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Mindful Spending

By 14/01/2018 No Comments

We often here about mindless spending though it often goes over our heads because we would never be subject to that, right?

WRONG.

All those coffees on the go, the rainy day, “can we just Uber”’s, the, “I can’t wait 30 mins until I get home I need food now!”’s – Yes we all think these things and unfortunately, these are prime examples of mindless spending.

Those mid-day coffees at your fav indie café—4$ a pop, those 8$ Uber’s, those 10$ quick snacks… that’s 22$  * 4 weeks * 12 months…. $1056 later at a .65% interest rate could have gotten you $1125 at the end of the year.

Yeah, it scared me too. A trip to Cuba would have been nice come stormy January.

No point crying over spilled mone- err, I mean milk.

OK maybe a bit but good news is, the sooner you realize this, the better.

You can curb these heat-of-the-moment decisions by taking a step back and applying the 10 second rule. Do you still need it? Will you regret this tomorrow? Can this money multiplied daily by 4 and again by 12 be saved up and put toward something more useful? Most probably if you need to ask yourself these questions

On bigger purchases, ask yourself if you can afford two. The term ‘afford’ is used loosely hear but generally, if purchasing two will not make you late for this month’s rent then you’re in the clear.

It’s nice to treat yourself here and there, I can admit just be mindful about. Be aware of where your hard-earned money is going. Find some alternatives: a workout, walk in the park, research something you’ve been meaning to find the answers to — the list goes on. Also, catching up with friends doesn’t have to be expensive, neither does a date night. Live within your means and your future self will thank you for it!