Hey my friends, welcome back. It's
Vera here, and today I'm going to share 10 tips for how to stop spending
money on things you don't need. And these tips have greatly helped me in my
life to spend less money, save way more money, and own fewer things. And especially I feel like
with the holiday season coming up, we could all use some of these reminders.
There's also a bonus
tip at the end, so lots of great stuff coming up. I washed my hair yesterday so my braid I feel like
it's extra poofy. I am so excited to say that this video is made in collaboration with Patricia
from A Small Wardrobe. And she has an amazing youtube channel that is all about minimalism,
intentional living and building a small but satisfying wardrobe. She is also just so much
fun and her videos always crack me up so much. And she has an amazing sense of personal style.
Her videos are always very stunning to look at, so I just know you're gonna love her videos.
So in this video, I'm gonna share some really great minimalist money habits. Money mindsets.
And just different ways to look at spending. And patricia is gonna share advice specifically
about your wardrobe, and how to stop spending money on clothing items that you don't need. So be
sure to watch her video after you've watched mine, the link is going to be in the description and in
the top comment.
All right so the first step is to understand the cognitive process that happens
in our brain, when we are considering buying something. Because there's a lot happening, and
having a better understanding of it can help us to be more mindful of it, and also be more conscious
about our spending decisions. When we consider buying something, what happens in our brain is,
it is trying to weigh the balance between having the expected pleasure of getting something new,
versus the expected pain of having to pay for it, and then versus the expected reward of getting
a good deal. And that is why sales are also very tempting for us.
But we now know that this
feeling of happiness is limited. And it doesn't last. Even though it gives us this initial spark
of excitement, we do get used to our purchases. And we adjust, and we start to look for something
else that is new. And when we think about our next purchase, there's a new release of dopamine,
and it's a continuous cycle. And this feeling of happiness is not only limited in time, but
also in size. So it turns out we don't really feel happier after buying a 500 bag, then after
buying a 50 bag. And if that was actually true, then money could actually buy happiness. And
we now know that, above a certain threshold, it can't. So knowing that this process is taking
place, can really help us to know that we do not need to buy something new to be happy. And we
can actually focus on, if we do buy something, getting things that bring lasting value.
I am a huge fan of keeping a wish list, and even as a minimalist.
I have it actually in
my bullet journal, you can also use your phone. And I think one of the best things that we can do
if we want to avoid buying things we don't need is to make sure that we try not to make impulse buys.
And keeping a wish list can really help with that. So what I do, every time I find myself wanting or
needing something new, and there is a difference but I use it for both, I add it to my wish list
first. And I have a category for home, wardrobe, channel and other. And I think about it for a
while. Depending on how expensive something is. And also how big it will be and how much space
it will take up in my home. During this time, I do a little research and I see if I actually
think this will add value for me. Most of the time I find that I really don't need something
and my life is going perfectly fine without it. And otherwise I will get something really
good that meets all my specific needs, because I've taken the time to do research.
tips to avoid impulse spending is to make a budget for yourself, that really helps. And another thing
you can do is to always go shopping with a plan, so that you can go in and out quickly. I'm
actually curious if you guys are doing the budgeting thing, so let me know in the comments if
that is something that you do. The next tip that I find works really really well is to make it a
rule for yourself to avoid emotional shopping. So the habit of buying new things whenever we
feel sad or bored or depressed or frustrated. It's an easy thing but when we are emotional,
we aren't as good at making rational decisions. And it is kind of like going to the grocery
store if you're really hungry, it's kind of a recipe for disaster.
So if you recognize this,
then try to make it easier for yourself, have an alternative activity to do whenever you feel like
shopping or spending. For me, since the pandemic, I need to be very mindful of not trading
in emotional shopping for emotional eating. Because that is something that I kind of easily
do. And it's something that I'm trying to be very mindful of. But what I do now, is I try to go back
to my list of self-care activities. And I find that that actually works a lot better at making
me feel better when I need to, than shopping or eating. So, and it's just a lot more wholesome
in my opinion. Another thing that I find really helpful is to track my spending every once in a
while. It's kind of time consuming, so I don't do it always. But every once in a while, I will keep
a list on my phone, you can also use a journal, and just track everything that you are spending.
So you can really see where your money goes and what you're spending it on.
Doing this has brought
me many unexpected realizations in the past. And you can really see that all those little purchases
add up. And just seeing it there, clear as day, has been a huge motivation for me to spend less
and save more. You could also try doing a no spend challenge for a while. And this can really work
well if you're trying to break habits or patterns. And you could do it as kind of like a general
thing, or you could actually choose a few categories or one category that you want to
do a no buy for. Like for example clothing or beauty items. I'm actually considering doing a
challenge like that for myself in 2021, so I will definitely keep you updated. I don't think these
kinds of challenges are necessarily for everyone, but I do think that they can really help to break
unconscious habits, because it kind of brings them out into the open. My next tip is to make sure
that you are not buying things that make you want to buy other things. so we can kind of sometimes
group certain items together.
Like for example if you buy a new lipstick, very simple example, that
also makes you want to buy the lip liner and the blush that goes with it. Or for example buying
a new dress, but you cannot really wear it yet because you don't have the shoes that you need
to match the outfit together. Or for example also buying an appliance that actually needs
a lot of expensive maintenance and upkeep or items to be able to use it.
I'm faced with a decision like this, I try to just factor in all the different
things and really look at the entire picture. And the true cost of an item. So I know if I
buy this, I also need to buy that, or want to buy that. And together it would be this amount of
money. Usually I only buy things that I can use straight away on their own. And an exception could
be if you want to buy a whole outfit together, I think that's okay. Because then, if you
wanna you know buy it in one go, then you know what it's gonna cost you like in total. And
you can also actually immediately start using it. And you won't end up with a piece of clothing that
you cannot wear, because you don't own anything that matches with it. And this is something that
happened to me a bunch of times, so this has been a good lesson for me. This next one is so simple
but truly has been life-changing for me. And that is to save first and spend later. So instead
of what I used to do, I would just wait until the end of the month and then save whatever money
was left, which usually in my case was not a lot. And now I get paid and I immediately decide the
amount of money that I want to save.
I put it away immediately. And then I spend whatever is left.
And that little switch around has really helped me to save a lot more money. Another benefit of this,
aside from me saving more, is that I now feel less or don't feel guilty about spending whatever is
left. Because I know I've already saved a bunch, so it's an amount that I'm happy with. And then
I feel okay about spending the rest. And I feel like that is important because it is completely
unnecessary to feel guilty about spending a part of our money. I feel like it is also about
enjoying the here and now, and you know, splurging a little bit. Whenever you really want
to, whenever you feel that it adds value for you. And this little switch around has made me feel
not guilty anymore about spending that, because I already know I saved. Another great tip to stop
spending money on things you don't need is to have an amount of rule for yourself.
So if an item is
more expensive than a certain amount of money, you need to wait a certain amount
of days before purchasing it. So you can decide what works for you.Ffor example you
could say if an item is more than thirty dollars, you need to think about it for at least three
days. This is so helpful to avoid impulse purchases. Because a few days later, we have gone
out of that initial bubble of wanting something, and we can make more rational decisions.
And if you still really want the item, then you can always go and get it then. Tip number
nine is to avoid sales if they are a trigger for you. So if you've ever bought something just
because it was on sale, then I think this tip can work really well. Especially this time of
year. Because we are not really saving anything, if we are buying something that we didn't really
need in the first place.
Because I have been a minimalist for so long now, I feel like sales
have kind of lost their tempting appeal to me. So I actually do feel comfortable using sales.
But mostly it's for items that I was going to buy anyway. So if I want to buy something, and it's
a purchase that can wait, I will usually wait until I can find it on sale somewhere.
it just doesn't make a lot of sense to me to buy something full price, if I don't have to. The
next tip is kind of a mindset shift that happened gradually for me over the years, and that is that
I now don't really feel the need to buy or own something, when I can just appreciate looking
at them in the store. So I kind of see stores and shops right now as like museums, displaying
And just browsing is already kind of satisfying in its own way. And I don't
really feel the need to buy it anymore, I can just look at it appreciate it and move
on. This works for me especially well with souvenirs and buying things on trips. And
I used to buy a lot of things when I was on vacation. Because first, I kind of wanted an item
to remember my trip, and second I was experiencing some fomo. Because I thought, you know, I'm only
going to be here once, so it's kind of like a once in a lifetime chance to buy this. And so I
did. And I remember that added a lot of stress to a vacation that was completely unnecessary. So now
on vacation, I just look at all the pretty things, maybe I'll take a photo, but I don't feel the need
to buy them anymore. And sure, sometimes I will buy something that is really special.
of the time, it is just looking and moving on. My bonus tip for today is to make sure that you
always have a way back. Especially if you struggle with impulse buys, then this can work really well.
Because it's kind of like adding a safety net for yourself. So for example, if you buy something,
then make it a rule to leave the tags on for a few days, and keep the receipt. So that you can
just kind of get used to the idea of owning this item. And then if you feel after a couple days
you made a mistake, then you can always return it. And if not, then you can just take off your tags
and enjoy the new item. And if you order something online, be sure to check out their return policies
And especially if you're buying something with a relatively high chance that it's
not going to be the perfect fit for you, then especially. For me, I feel like it is with jeans,
I never buy jeans online. But if you do, then you can at least return it to the store if it doesn't
fit. And really set an intention before you buy, that you are going to return it if it doesn't
fit. And I used to be really lazy with this, and just I didn't want to bother returning it.
And it was such a huge waste. So if you are gonna order something online, be sure to return it if
it's not what you thought it would be. I love to hear your tips and experiences in the comments, as
usual. And if you are new here, and you just came over from A Small Wardrobe, then hi, welcome.
feel free to take a look around and say hi in the comments if you like. Check out Patricia's
video as well. And as always: questions, comments, conversations down below. Have a
wonderful day. And I'll see you soon. Bye bye!.