How to Spend Money With Confidence
We’ve all felt it.
You walk out of the store with your neatly wrapped purchase, all bundled up in a crisp, white shopping bag. You don’t even get all the way to the car before you feel it: that sinking feeling in your stomach that makes you stop and think, Did I really have the money for that?
It’s a combination of regret and guilt—otherwise known as buyer’s remorse.
Nobody likes that feeling.
But good news! There are some easy practices you can put in place to avoid it. That’s right: You never have to feel buyer’s remorse again. Just follow these three simple steps.
1. Make a budget. It’s tough to spend money guilt-free if you don’t know how much money you actually have. Sure, a larger paycheck or fewer expenses may help, but you’re still taking a shot in the dark unless you know exactly how much you have to work with. Making a budget puts you in control. You get to decide where every single dollar should go, which means you can spend without any remorse, guilt or second-guessing.
2. Allocate some fun money. The budgeting wizards of the world know how important it is to designate some “fun money” in your budget. This is money that has zero obligations. You can spend it on a new swimsuit, movie tickets or an impromptu ice cream date with your better half. Give yourself some fun money and have a blast.
3. Track your spending. Tracking expenses is just as important as creating a budget. Think about it. If you don’t know what you’ve spent, you won’t know how much you have left. That can quickly lead to overspending on accident and not even realizing it until it’s too late to return what you bought. No thank you! Avoid that by keeping track of your purchases. It just takes a few seconds. And if you use EveryDollar Plus, your transactions are streamed straight from your bank. All you have to do is drag and drop them to the appropriate budget item. Yep—it’s that easy!
Make a habit of these three things and you can say hasta la vista to buyer’s remorse!