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5 Ways How to Stage a Revolt Against Overspending

5 Ways How to Stage a Revolt Against Overspending

It’s not easy.

I was asking myself lately why I was not able to save money.

I blame single payroll policy.

I blame the long ride home to work.

I blame 7-11.

I blame milk tea.

I blame the food cart siomai (meat dumplings).

Oh, I can’t blame coconut shake. I just love it.

Isn’t it funny how we blame ourselves last?

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That means ALTHOUGH I don’t carry multiple bags in my hands. ALTHOUGH I don’t charge a lot these days to my credit card. ALTHOUGH I remind myself not to spend unplanned. I realized that lately, I follow my urges (I mean, my simple delights, huh).

You’d probably say that’s not unusual. That’s OK. That’s just simple pleasures – good for you and me.

Above mentioned items could probably be cheaper than what most people spend for. And for me, I give in to simple delights – you would understand why after a stressful work day.
For me, Gongcha makes me happy. Serenitea makes me happy. Happy Lemon makes me happy. You just don’t know how happy I am it puts the stress away!
I believe that everyone must save and invest and get what it means.
You save and invest for a purpose, not to control the world and conquer it.
We just can’t have all the lands in this old turf. We just can’t have all the printed money in this world.
Money isn’t the end; money is how you get into your dream vacation, dream gadget, dream educational plan for kids, dream retirement.
In short, define spending in such a way that you do not deprive yourself of material wealth and joy. If you can go to Boracay for free – great, but for most people, going to Boracay means being with the real treasure is – family. And for people to spend time at the world’s best island according to recent survey, people need to spend for it.
You’ve got to get it. Why you save and invest. It’s for a purpose.
I believe that buying yourself is not a bad idea. Being too stingy limits you from enjoying the material world we live in. This one, beautiful world.
But how about for shopaholics, impulse buyers and credit card charge slips collectors?
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Here’s the thing:

You’ve got to fight overspending.
  • Like taking a loan for an LV bag.
  • Like applying for a new credit card, max it out on shopping, and apply for another credit card again to pay off the first, then repeat process to pay off the second, then repeat process…
  • Like being a one-day-millionaire every paycheck.
  • And so on.
Here’s the challenge:
Sock away a certain amount for the next 6 months say Php1,000 on top of your regular savings plan. Or if you don’t have a savings plan yet, how about Php2,000 as a start? Are you game for it?
So how do we stage the revolt against overspending? 
  • Change the mindset! Food is definitely a necessity, but buying from pricey stores regularly and indulging in impractical treats are just not going to work if you haven’t built up your emergency fund. Only for rare occasion perhaps. Only for once-in-a-lifetime cases. But if it becomes a habit, that is the problem. How about the latest gadget? Are you quite tempted everytime you pass by the mall? Check out its features and match the specs with your needs.
  • Track random spends. A little buy here and a little buy there get piled up and become a huge component of your spending.
  • The Law of the Why: Why am I buying this product? Is’t a need, or a want? Importance, not urgency is the key. That is why the weekend sale will encourage you to buy more knowing the sale might end soon. Save-then-buy strategy is one thing we can practice: save first for a big item, and when you have enough cash, buy it.
  • Turn the tables around. How about selling your homemade goods. Or second hand items. Take advantage of online buy and sell sites. Why not grow your money, instead of throwing them all away. You might just find your next addiction!
  • Repeat the process. 

The above does not mean you shouldn’t splurge on life’s great pleasures.

Just be a happy spender. Spend within means. Save beyond expectations.

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