How to Avoid Spending Money:
What is the number one reason you can’t save money? You spend it!
It’s hard not to! Everyone wants a piece of it.
“We’re just going out to eat!”
“It only costs $15!”
“You don’t want to miss out!”
You want to say: “NO YOU DUMMY, I’M SAVING MY MONEY!” But you don’t. Because you’re nice. But don’t worry. I’ve got you covered. Today, I’m creating a handy-dandy list you can print off and keep in your wallet. Reference this the next time you get a proposal to spend that hard-earned cash!
There are three ways to successfully extricate yourself from a money-spending predicament: excuses, possibilities, and alternatives.
In this scenario, you always start out with the phrase: “I’d LOVE to, but…”
- My credit card was stolen and I’m still waiting for the new one to arrive.
- I’m in an investing club and they’ll kick me out if I spend any more money this month!
- My teeth hurt (any non sequitur would work here. Throw them off completely.)
- I have to wash my hair (“my dog ate my wallet” and other obvious excuses could also work)
- My credit card bill hit an even $1000.00 and I can’t stand to see the perfect amount change before I pay it off in full at the end of the month.
- My horoscope said I should avoid spending money until the next full moon.
- All I have are gold bars.
In this scenario, you use the amount in question to propose alternatives. We’ll assume the amount is $55 (change your answers accordingly). This section can begin with the phrase: “That sounds awesome, but with that money I could…”
- Buy 55 Matchbox Cars!
- Buy 4 cans of Unicorn Meat!
- Max out 1% of my Roth IRA for the year.
- Swim in 5500 pennies!
- Turn it into $1800 in 50 years (using Warren Buffet’s 7% return preference)
- Buy 55 lottery tickets. If I win, let’s plan on it!
- Hike on a glacier with a friend!
If you still want to hang out with these money-bags spender friends, you can offer free alternative activities. Just say: “That sounds awesome, but what if we _____ instead.” Fill in the blank with one of these:
- Went back to my place for a pancake dinner
- Had a picnic on a traffic island or in a roundabout
- Went bike riding
- Went yarn-bombing
- Had a selfie scavenger hunt
- (Make up your own!)
Now go and save, friends! You are armed with RESOURCES!