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3 Simple Ways to Reduce Financial Temptation

Do you often feel it’s hard to resist spending money as soon as you get a paycheck? If so, you’re not alone. Unfortunately, though, a consistent pattern of expenses that occur as soon as new income arrives could make it difficult or impossible to cover unplanned expenses or save for big-ticket items. Once you get serious about conquering financial temptation, it’ll be easier to reduce it.

Use a Money-Tracking App

 Many people spend money so quickly that they can hardly remember which items they buy. One way you can stay on top of where your money goes is to use a dedicated app that helps you track spending. Most apps connect to your bank account and let you set budgets for different spending categories. Then, you can see exactly how much you spend and what you’re buying.

Unsubscribe From Catalogs and E-Newsletters

Once you buy a product from a company, it’s common for that merchant to send you a physical catalog, an e-newsletter that arrives in your inbox, or both. After all, the goal is to get you to keep spending. Like many people, you may tell yourself you’re just browsing through the new products shown in catalogs or electronic newsletters and ultimately end up buying something.

That’s why it’s a good idea to consider unsubscribing from e-newsletters and catalogs. If it feels too dramatic to make that move — especially if you signed up to receive materials to participate in a loyalty program — set up a dedicated email just for promotional materials. Also, contact the provider by phone and ask to only receive catalogs by mail a few times a year at most.

Have a Future-Oriented Mindset

Many people forget that getting into a repetitive pattern of saving not only results in higher bank account balances but also helps them plan for their futures. For example, when you save on insurance by talking to a local agency and finding out about the costs associated with each plan and determining whether you could save money by bundling your coverage, you might only save a few dollars a month, but the amount adds up over time.

It’s also helpful to think about major events that’ll happen before you know it. Maybe your teenager wants to go to college or your spouse is retiring from the workforce in less than a decade. Both of those milestones are easier to get excited about when you plan for them.

These are just a few ways to stop feeling so tempted to spend money. When they become habits, you’ll find it’s possible to stress less about your finances.