When you make a conscious effort to save money, generally we focus on what we have to miss out on to achieve our goals. However, there can be a balance between saving while also living your life to its full potential. You shouldn’t feel guilty about spending money, after all, you earned it, and it is possible to enjoy it. If you are making conscious decisions with your money, you can avoid buyer’s remorse while saving money. Here are five changes you can make to help you save money mindfully.
Consider the Food That You Buy
Food is a basic essential that is a crucial part of your budget. You can make cuts to save money; however, you still need to enjoy the food that you consume. Consider where you are buying your food from and how your buying power has an impact. If you eat meat regularly, try and replace a couple of meals per week with vegetarian options. Reducing your meat consumption is better for the environment as it is simply not sustainable long term.
You should also only buy what you need. If there is a special offer to buy more of a perishable item, it’s not saving if you’re not going to eat it. Buying food and letting it go to waste is bad for your bank balance and the environment. Write a list and stick to it. By being mindful of your food purchases, you can save extra money without depriving yourself.
Choose Experiences over Material Items
Buying clothes, shoes or the latest gadget will only provide gratification for a short time. Aim to be more happy and content with life and not use material possessions to measure this. An experience can leave you with long lasting happy memories. If you are more prone to buying material items, it can be helpful to question why that is. For example, it could be to avoid dealing with certain emotions. This should be addressed to change your spending habits. Think about the way you feel when you make a purchase and identify how long this feeling lasts. Sometimes you will regret what you have bought as they are material and don’t serve a particular purpose. An awareness of these feelings surrounding your purchases will lead to more mindful spending.
Reduce Mindless Behaviour
It’s easy to sit on your computer, laptop, phone or tablet late at night and browse online clothes shops. Before you know it you’ve checked out your cart and bought something you might not have purchased in a traditional bricks and mortar store. The item arrives in the post, and you feel a sense of regret. Perhaps you didn’t need it. You try it on, and it’s the wrong size/colour/fit. You feel the fabric, and it wasn’t what you were expecting. There are plenty of factors that can give you buyer’s remorse when shopping online. We have become accustomed to having everything at our fingertips that our transactions have become mindless. Instead, make a conscious effort to go into a physical store. If you are buying clothes, try it on and make sure it is what you want before purchasing. This saves you from lots of mindless purchases and saves you money in the long run.
Pay Cash Instead of Using Your Card
It is getting easier to buy things in store and online. A simple tap of your card and the transaction is over. This action allows you to feel removed from the process and you are more likely to spend without questioning your purchase. However, when you hand over cash, it forces you to be more mindful. It is harder to part with your hard earned money than it is to tap a card. Spending keeps the economy going, and some purchases are necessary. Permit yourself to buy things by setting a budget. Withdraw cash so that you become more careful with your spending habits.
Plan Holidays Mindfully
If you are trying to save money, you can still get away. Breaks are good for us and allow us to reconnect with loved ones. Expensive hotels aren’t essential, and there should be more of an emphasis on the experience or quality time with family or friends. Camping is an inexpensive way to explore places around you while getting away from it all. It also provides a different experience, and you can get off the beaten track. Due to the cost, you can afford to get away more often if you prefer.
Being mindful ultimately leads to you spending less. This allows you to save while still living a fulfilling life. If you require a loan for a larger purchase, get in touch with Rapid. They are the money experts that will take a holistic approach to your finances and find a solution to suit you.
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