The Embrace ABCD (and E) of Resilient Spending

 

Embrace Resilient Spending ABCDCompulsive spending, eases distress, momentarily.

Then increases anxiety, chronically and exponentially.

People who feel in full emotional control find it easier to spend money responsibly. They’re far more likely than others to research purchases, identify the best value products and negotiate payment terms.

Meanwhile, impulse buying is predominantly a characteristic of stress and low self-esteem.

It can be expensive, emotionally damaging and financially ruinous.

The evidence is out there, retail therapy is anything but therapeutic.

Take better care of your Resilience and Wellbeing with the Embrace ABCD (and E) of  Safer Spending

 

ABCD and E of Resilient Spending

Advertise that Planned Purchase.

Tell everyone what you’re thinking of buying.

Just saying it out loud might make you change your mind, but importantly, if it sounds like a dumb thing to do someone who loves you is likely to tell you.

 

This also works as a delaying tactic – make it a rule.

 

 

Embrace Resilient SpendingBad Mood Bad Idea – never try to shop your way out of a funk.

Shopping can generate some fabulous emotions. There’s a good chance that popping your pin will make you feel fantastic for a full five minutes. On the other hand opening your credit card statement may well make you morbidly unhappy for a full day – or longer.

If you’re inclined to ease your anxiety by shopping, try pinning the £100 item you’d like to buy and spending £10 on a creatively experimental treat.

https://www.pinterest.co.uk/

 

 

 

Embrace Resilient Spending ABCDCount up the Tiny Ticket Items

Little things mean a lot – a quick coffee on the way to work, a chocolate bar at the checkout …

These almost invisible expenses add up, so it helps to at least understand how much of a financial drain they might be for you.

Try using only cash for tiny treats and setting a monthly limit of more or less what you think will satisfy this need.  Let me know how much you have left by week two.

If you think you need to manage this better, try adopting a Frivolous Friday or Alternate Days Only rule.

 

 

Embrace Resilient Spending ABCDDelay the Deal.

Think through the big-ticket items and some of the little ticket treats too.

Research a range of different options and never underestimate the power of delayed gratification.

Pin before you Purchase. Not only will this satisfy your desire to shop, it will also help you make smarter decisions, give you loads of options, let you make your own comparisons and every now and then the cookies will reveal a discounted deal.

 

 

Embrace Resilient Spending ABCDEven out the Exceptional Spend

Christmas, holidays, birthdays, Bar Mitzvahs, Gigs  … gifts and celebration sundries, eat income.

The good thing about giving to others is that it genuinely does seem to promote happiness in the giver but a spot of forward planning will make the giving even more joyful.

Open a ‘gift’ account and transfer an agreed amount each month.

If you only use this account for extraordinary purchases, you’ll always know exactly how much you splashed out, you’ll also have a ready-made budget to dip into and there will be no excuse for top up borrows.

Happy Birthday, Everyone.

https://embraceresilience.com/well-agenda-workplace/

 

 

 

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