Being Tidy and Mighty Creates Better Spending Habits
According to the Journal of Consumer Research, people are less likely to splurge when their surroundings are organized. What is organized? We all have our different definitions. Whether organization is alphabetized canned goods in your pantry or just whatever you like to consider “organized chaos”, tidiness is all about control. If you feel in control, you will spend less.
The feeling of being in control makes you become wiser about splurging. Life is all about balance. When you leave some room to spend, you will be focused on prioritization. Here are some helpful tips to focus on your spending.
- Make lists. Making AND sticking to your list creates less deviation from your short-term goals.
- Know essential expenses. Knowing the difference between what you NEED and what you WANT is essential to reducing expenses that eat away at net income.
- Cut back on essentials if possible. It is important to know what priorities are more essential than others. Narrowing down the most essential needs will help improve your long-term savings.
- Know what you enjoy spending money on most. Do you have a favorite morning beverage? Or do you like to go to the movies on a weekly basis? Learn how to cut spending elsewhere so you can enjoy those simple pleasures that make you happiest.
- Create a splurge fund. That way when you splurge, you will dip into money you already saved.
Here is the bottom line. Financial Center wants to help you find ways to create a healthy balance between saving and spending. Our duty is to help you achieve financial wellness. If you would like more information, please check out our services. Give us a ring. Connect with us on social media (top of the main page). Or come into one of our many locations.