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How to Stop Spending + Money Habits to Make You Rich
How to Stop SpendingOften spending is used as a dopamine hit, a way to make us feel better or distract us from what is going on in life. Overspending is easy to do and it's not uncommon for people to deal with emotional issues by spending money. Even grocery shopping can be an area people overspend without realising it. Using Afterpay. ZipPay, BeforePay and similar can get you in a lot of trouble financially quite fast. I have been in that situation before and it was crushing. While I was brought up with good financial knowledge, there was a time when life was a mess, my emotions resulted in spending and a lot of debt. I dug my way out and fortunately, I was young so it didn't effect me as much as it would if I still had those habits now (age 39). So how can you break the habit of spending? In 10 tips to stop spending I share what helped me. One thing I will add, if it is an emotional spending habit, getting to the root cause of that and healing will make a huge difference! Don't hate yourself or feel ashamed if you are currently in debt due to spending or you are struggling to get control of your habits. That will only make it worse! You are not alone and if you take steps today to improve, it will help. Take it one day at a time and recognise that these things don't resolve themselves overnight, it's not easy to break this habit but it is worth it! Planned Spending to get Money Back and Always get DiscountsYou don't need to stop spending completely. We all have to spend money. So how can you spend wisely? Have a List: Not just for groceries, have a list for presents you need, house items etc. Use this list instead of buying whatever you want when you see it. So whenever you are tempted to spend or think of something you want to buy, add it to the list. You might want to use a Google Spreadsheet so you can have columns for different categories e.g groceries, clothing, home decor, whatever it is you want to buy or normally buy. Set a timeframe such as 30 days and at the end of the 30 days if you still want those things on your list, you can work them into your budget. But don't go into debt if you can avoid it and don't need those items right now. Compare Prices: The difference can be huge between stores and even between online or in store. Shop around, compare and look for the best price. Cashback Programs: Be registered for them all and make sure they are active for when you shop. Look out for the bonus deals and shop then. My favourites are here. Shop in Sales: Know when the sales are on and shop then. We often plan big purchases around the end of financial year sales and Black Friday but there are sales happening all the time so there's rarely a need to buy immediately. Just wait for the next sale. ReceiptJar: Upload your receipt or email in the online ones to collect points for gift cards. Check out ReceiptJar and my review. Check out how to get a discount on everything as well as these tips to get coupons and discounts in Australia. 9 Frugal Habits to Save you Thousands will also help you spend your money more wisely. Rich Money HabitsWhatever your definition of rich is, there are habits you can develop to improve your finances and help you achieve your wealth goals. Here are 12 habits for a healthier, wealthier life with more free time. Some of those habits include: Check out how to get rich being lazy with money as well as how the top 1% manage their money for more information on wealthy habits and these 5 habits for financial freedom. If this feels like a lot, you can start smaller. Try a money challenge or aim for $10,000 in a year with these tips. Our Meal PlanWe rotate meal kits by utilising discounts and free boxes which you can find here including a free box of HelloFresh and up to $200 off QuiteLike, Marley Spoon, Every Plate and Dinnerly. I've also found this to be a great way to find new recipes we like without spending a lot on random ingredients. This week we have HelloFresh (get a free box here) which includes: For lunches, my teens mainly like chicken salad wraps at the moment. Lunch for me this week is a mix of a vegetarian soup (tomato, corn, beans, garlic, chilli, ginger, zucchini, carrot and pesto) or egg and salad. Our breakfasts are usually eggs, toast, cereal or smoothies. Lunches are leftovers, sandwiches, rice dishes etc and snacks are mainly fruit and veg, sometimes crackers. Here are the discounts we use (note they are for new customers only): 1 Free box from HelloFresh: Up to 6 main meals for the family you cook yourself plus they have readymade options you can add on What I Am ReadingSince this one is focused on improving finances, I read Good With Money: Reprogram Your Spending Habits and Take Control of Your Money by Emma Edwards, founder of The Broke Generation. It's a game-changing, practical guide to the psychology behind your spending habits, revealing how to manage your money without missing out on the things you love. For 2024, I have a list of books I am reading, some of which I have read before but know I can learn more from as I read them during times of stress. The list is split into finance and business, health, self-help, new age/spiritual, parenting and relationships since these are the areas of my life I am always striving to improve. I share what I am reading on my Instagram account and would love to hear what you are reading, what you recommend and why. Discounts For You!You can find all the freebies and discounts The Thrifty Issue has secured for you here. Including cash, free boxes of HelloFresh, EveryPlate, discounts on wine and other food, plus a mega-money makeover bundle with 3 ebooks at a discount. Money Bonuses $125 from ING with a few steps, it is paid the following month (full details here) $14 instantly from Up Bank who are backed by Bendigo and fee-free $30 from Ubank when you use the code S7VL6WF and complete 3 transactions in the first month $5 from WeMoney, an Australian budgeting app The highest paying online survey site in Australia is Octopus Group. Get cash back and a bonus offer with Cash Rewards and Shopback. Earn cash with your receipts and get a 200 point bonus with ReceiptJar if you use the code KYLIT3Q2H. Food Discounts $15 off Celebrity Slim weight loss shakes Free HelloFresh box one of Australia’s most well-known meal kit options and the one I have used the most Up to $180 off EveryPlate for new and returning customers Discounted fresh produce with Funky Food Up to $144 off with Dinnerly one of Australia’s cheapest meal kit options Up to $180 off with Marley Spoon a meal kit option great for those who are more health conscious 1,500 bonus points + 10% off every month with Everyday Extra (Woolworths) Other Discounts $25 gift card with Red Energy The Body Shop: regular discounts on all their products. This is our preferred skincare. ModiBodi: Get high quality period underwear, swimwear and other items at a discount. EyeBuyDirect: Discounted glasses that are the same as you buy in store. Tangerine: Discounted phone and internet options LoveHoney and Wild Secrets: Up to 70% off their clearance sections (adult items and lingerie) Ryderwear: 10% off for new customers (activewear). Sign up for their newsletter for the discount. The Thrifty Issue CommunityFor more and to connect with others check out The Thrifty Issue Facebook group, Facebook page, Instagram, Pinterest and Twitter. |
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Tips to make and save money, especially for Aussies. As featured on ABC, Nine and Channel 7. Sign up for weekly tips plus freebies and discounts.
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