A couple of readers requested advice on how to stay on track with mid-long term goals without frittering away money on impulse buys.
In regards to goals - especially if they are big ones - I would set mini-goals. It is so easy to get discouraged when a big goal seems so far away, but by setting mini-goals you feel like you are making progress and it will help keep you motivated on the bigger goal.
For example - say your goal is to save $10,000 and you are starting out at zero. Make your first goal to save $100, then $250, then $500, then $1,000 and so on. Celebrate your progress along the way.
As for impulse purchases, ask yourself if you really need or love this item. You could figure how many hours you have to work in order to pay for an item and decide if it is worth the price. Avoid the places that tempt you to spend unconsciously.
Track what you are spending your money on and figure out how much it is costing you every week/month/year. Can you get the item you desire another way - through bartering or buying second-hand? Can you make it yourself?
Make saving money a game by using charts. I always like to check things off as I go. It's a tiny victory!
If you make an impulsive purchase, can you return for a refund? If not, try not to beat yourself up. Slip ups will happen occasionally. If you're in the habit of buying drinks or snacks while out and about, bring your own from home instead.
And lastly, how bad do you want to reach your goal? Spend your money on the things that are truly important to you and skimp (or skip) on the things that aren't!
Wishing you financial success and abundance,
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