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  1. #1

    8 Easy Hacks to Stop Your Spending Today

    Have you ever heard of, “life hacks” or “hacking?” If you haven’t, hacking refers to shortcuts or tricks to improve productivity and/or solve a problem. Basically hacking is a way to increase your productivity in a unique or clever way.

    Because overspending is common and easily gets out of control, it’s important to know financial hacks that you can easily implement in your daily life. Without a clear plan of attack, overspending can lead to debt and an unstable financial future.

    Here Are 8 Easy Hacks to Help You Stop Spending:



    1. Stop watching TV. Or at least mute the commercials. Advertisers are experts at getting you to buy things you don’t need (and didn’t even know you “wanted.”) Avoid the temptation of spending money you don’t want to spend by taking media out of your life.

    2. Freeze your bankcards. Literally. Fill a large bowl with water and put all of your bankcards in the bowl. The next time you're tempted to overspend you'll have to wait for the ice to melt. Giving yourself extra time to think about purchases may make you realize you don't actually need the item you were planning to buy.

    3. Carry cash only. Stop carrying credit cards and start carrying cash. Keep only the amount of money you budgeted to spend in your wallet. If you only have the cash you can afford to spend in your wallet, you won’t be able to spend money you didn't plan to spend.

    4. Cut up your credit cards. If credit cards lead you to overspending, get out a pair of sharp scissors and cut them up. If you need to keep one for emergencies, take it out of your wallet and put it in a place where it’s out of sight and difficult to access.

    5. Delete all of your payment profiles. Are you a frequent online shopper? Do you have payment profiles set up at all of your favorite retail stores? Delete them! If you have to physically go get your credit card or bank account information and re-enter it every time you make a purchase, you’re much less likely to spend on impulse purchases.

      Ditto for “one-click” capabilities. If you’re trying to stop spending, you’ll want to make spending as difficult as possible.

    6. Cancel all auto-renewals. Turn off all of auto-renewals on products that aren’t necessities and/or you don’t use any longer. Do you really need all of those magazine subscriptions? Do you own websites you no longer update? If you don’t cancel the subscription before the auto-renew date, you’ll be charged for another year automatically.

    7. Turn off auto-deliveries. Do you subscribe to auto-deliveries for your toiletries, dog food and diapers? Stop them and only order those items when you actually need them. Some months you might need more or less of an item. If you need less, you’re wasting money to have items you don’t need delivered.

    8. Carry a snack in your bag. Nobody likes to be hungry and it’s hard to say “no” to yourself when your stomach is growling. Buy a box of granola bars and keep a few in your purse, desk, car etc. Also consider buying a water bottle and bringing it with you to work. Soda and coffee costs add up throughout the day.
    Last edited by CreditDave; 06-14-2013 at 03:38 PM.

  2. 8 Easy Hacks to Stop Your Spending Today
  3. #2
    Registered User Enthusiast
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    I froze my credit cards in a big block of ice when I was at college. My roommates thought I was crazy but it does actually work well.

    I like your other suggestions, too. Auto renewals are bad for me, I always forget until I get an email saying I've been charged for another year of something, and its a huge waste of money.

  4. #3
    Quote Originally Posted by byedebt View Post
    Auto renewals are bad for me, I always forget until I get an email saying I've been charged for another year of something, and its a huge waste of money.
    Same thing has happened to me, very frustrating! That's why I've canceled my auto renewals.

  5. #4
    Registered User Junior Member
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    I'm a big fan of carrying cash. I have one credit card which is nice to have for online purchases and then rewards as well, but with cash you can't spend more than you have.

  6. #5
    I actually lost two of my cards and needed to pay for everything with cash / debit card for a week - I was somewhat amazed with how much my spending decreased. New cards arrived and spending has sadly my normal spending has resumed but I can see how that would definitely be useful if you were in a crunch.

  7. #6
    Registered User Enthusiast
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    I cut up my credit cards today! If only that made the balances go away (haha)! I'm glad I can't use them anymore but also a little worried.

  8. #7
    Registered User Enthusiast
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    Quote Originally Posted by AnnaR View Post
    I cut up my credit cards today! If only that made the balances go away (haha)! I'm glad I can't use them anymore but also a little worried.
    Good for you! Hope it helps.

  9. #8
    Registered User Junior Member
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    43
    Quote Originally Posted by AnnaR View Post
    I cut up my credit cards today! If only that made the balances go away (haha)! I'm glad I can't use them anymore but also a little worried.
    You'll do just fine.

  10. #9
    Quote Originally Posted by AnnaR View Post
    I cut up my credit cards today! If only that made the balances go away (haha)! I'm glad I can't use them anymore but also a little worried.
    Congrats, "plastic surgery" is a good way to keep spending in control. You're going to do just fine!

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