Do I Need To Spend Money On Things I Don't Need?


Nine Best Practices To Stop You From Spending Money On Things You Don't Need.


Believe me, you're not alone.


We all do it all the time. And to some of us, it has become a persistent habit that is even hard to get rid of.


But I'm here to share with you the most bulletproof ways to quit spending money on things you don't need.


What's your biggest financial worry?


We all have to work for a living at some point in our lives. As we begin to generate income, we encounter all sorts of inconveniences when it comes to managing our finances. 


An American businessman and author, Robert Kiyosaki once said; 


" We were not taught financial literacy in school. It takes a lot of work and time to change your  thinking and become financial literate "


The root cause of the habit of spending your money on things you don't need lies beneath the genesis of this ignorance of improper ways of managing your finances. 


" The easiest way to manage your money is to take it one step at a time and not worry about being perfect " as an American entrepreneur,  Ramit Seth says.


I have always tried to identify the root causes of some of my spendings on money, and the easiest way has always been taking it one step at a time.


Identifying what is the cause of that particular mismanagement, then later taking appropriate measures to tackle the problem and preventing its happening in the future. 


Being frugal doesn't imply being hard on your spending habits, rather being flexible with every decision you impose on your budget. 


What are the key causes of inappropriate spending of money on things you don't need?


  1. The lack of a pre-existing solid budget.


Before you think budgets are only meant for governments and big institutions, just comprehend that any place with money a budget should exist.


Choosing to eliminate a budget in personal finances, is an act of suicide by your economy in the long run.


A budget helps keep a record and provides clear guidance of what needs to be done with the available money.


  1. Not abiding by your personal budget.


Having a budget is one thing, the other is abiding by it. I have seen governments in Africa and Asia run bankrupt for simple reasons of not abiding by the passed budget. 

The same can occur in your personal life.


I once allocated money to buy a brand new Ps3 when I was in high school, just to spend the money on a hiking tour with my friends. Terrible right? It's because my skills in personal finances were disappointing.


  1. 'Spend to impress'


It's a habit that has grown tentacles in this era of social media. You simply get stuff, it can be clothes, shoes, food, etc. Then create social media posts with the intent to impress your followers. It's more of a photo op. Only that most photo ops are sponsored. 


  1. Being dependent.


Want to know what sets quick negative feedback on how you spend your money wisely? Ask an independent person, mostly at least. Practicing this very mentality does not need fieldwork. Ask less from your guardians and sponsors. 


That way, practice low-key stinginess. Ask for only what you need.




Living in a big city, I rented a small apartment. With money from the students' loans back in college. I had to only ask for the few extra things that I needed to top the deficit. 



That way, I never wondered why I wasn't an alcoholic, sleeping with paid hookers. It shaped your spending habit.


What am I supposed to do in order not to spend money on things I only need?


It's easy. But it is a tough decision you need to make. After all, that ends with extra money in our budget, right? Maybe. 



  1. Make good use of the window shopping strategy 




There is a good reason it exists. It's not for broke people to have a glimpse of what they admire. Use it properly to identify the prices, quality, and the essence of stuff you want to purchase and come back when you're done pondering.


I have never bought something I window shopped that I don't need.  Second eyes always make a good catch. Probably what you need. Be bold about it, make it your purchasing strategy, especially for non-essential goods that seem to fetch a lot.


  1. Practice being independent. 




Doing stuff on your own is contagious with how you handle your spending habit. Money is like a little child, it likes being told what to do. Refraining from being a good parent, jeopardizes your finances in the long run.


Independent people will tell you a secret of how they have to take care of themselves. And this happens by spending their money on things they need. The risk of bankruptcy is an adversary they don't covet confront.


Borrow their method. Treat yourself as an orphan. How else are you supposed to learn about independence while dodging its TRUE practices? You might need to learn how to be productive at home to add a swole to your independence.


  1. Be thankful for what you have.




We are humans. I can't remember how many times my mother refused to buy me stuff I already had, hammering the need to be thankful in my skull. Gratitude is a must. 


Take a walk to the neighborhood, tour respectfully other people's lives. There you see what you have that they don't and wish they had. And you're here trying to get more!


It's appalling when you look at all these rich hip hop artists flaunting all their money, cribs with a 40 square meter room just for shoe closet.


The stuff they will never use. That's not you. You don't want to spend money on things you don't need. Period! Be thankful and make good use of what you already have.


  1. Do you have a savings account?




Open one. All your extra money, the income you don't urgently need, has its safe place. A savings account. It will be nice if it is fixed.


The save the rest of the money that you earn. Keeping in your account and credit cards, will be spent much faster.
Get a savings account

Spending more gets more crap, is for the losers who want to stimulate the economy by doing it in the wrong way. 

Do you want to keep your money?  Let the real estate guys, big businesses, and schools borrow it for productive work.


Saving your money explicitly aids your initiatives to a frugal lifestyle, spending your money on things you only need.


  1. Take a checklist




It's not that hard. Have only what you need. Give it to the charity to begin.  That stuff shouldn't end in your limited space.


Before buying new shoes, check for the shoe rack space. Kitchen cutlery, check the flatware set, needs any replacement? Act right. Don't flood your living space with stuff you don't need or already have. 


An easy way can be having a checklist with categories on your phone. Get it synchronized with your google calendar, add reminders of when you might need new replacements. 


Update it and stick to it. It helps look after your spending habits.


  1. Who are your friends?




A famous Russian politician Vladimir Lenin once said ;


"Show me your friends and I will tell you what you're ".


Have friends who spend all their money on vacation, most likely, so is yours.


The right choice of your friends helps shape your spending habits into more relevant stuffs that you only need.
Choose your friends wisely


Hit booze all week, I'm catching you on their list. I had to start hanging out with some friends in college to pass math. So it is in real life. Your friends dictate most of your behaviors.


Choose them wisely when it comes to spending your money, you need people with checks and balances on what they do for a living. 


  1. Go for online premium services.




"Are you kidding? That amounts to overspending"  You're partly right. Have you ever been to places where rich people stay? There is a lot to talk about those places, but one stands.


Those places are usually cool and largely undisturbed. It's as if there is one living there.


The same appears in the online world. Every free service is subject to a ton of advertisement. It's almost the whole internet thing that has turned into an ad campaign. Guess who sits back undisturbed? The premium guys.


When you subscribe to a premium of any service,  it's almost a guarantee to be left alone and enjoy the service. Kinda makes sense right? I paid for the services so I should be left alone and enjoy. 



It happens that, people make money from people with no money. When you roam around the internet using free services, you'll be constantly distracted with ads popping from all over the web page, trying to sell you something. 


Using premium services could predispose you to lesser ads.
.

They eventually manage to sell you stuff you didn't intend to purchase.


This goes along with an endless email subscription to newsletters that aren't worth it. Someone is always trying to get your money. It has become a game.


Go premium and maintain a limited life on the internet not to be preyed on by the hungry-money chasing ads.


  1. Be careful with salespeople.




There are everywhere. Like the ads, except they lack the premium option to control them. Let's be honest here. With YouTube and Pinterest, I don't see why you need to fall into salespeople’s tricks.


You need a new phone, there are bloggers who can give you a detailed review of your queries. YouTube has tutorials dedicated to helping you have a better understanding of what you need. Use that.


Salespeople are likely not to give you a general review,  rather they're biased to get you to buy their product. You're a second away from buying what you don't need.


Normalize doing your product review so that you don't have to run into the hands of people who will make you spend your money on what you don't need.



  1. Keep a sustainable future.




Spending your money on things you need is healthy and rewards your efforts for a prosperous future. 


We all need to keep an extra for tomorrow just in case we don't make much as yesterday.


Life must have been hard during the covid19 lockdown, for most people who had not enough money saved for several reasons.


Even harder, when you think the depleted money was caused by your habit of spending more on what you don't need.


We did an online poll and collected data from 150 responses. The questions were simple. We selected four categories; Food & drinks, clothes/outfits, electronics, and online services.


Individuals had to respond whether they have ever spent their money on any of those four items while there was no need to.


The data collected were as following;



Age Group (years) Foods & drinks Clothes (outfits) Electronics online services

17-21 67 58 12 12 22-26 64 63 15 43 27-31 24 52 22 38 32-36 12 46 8 22 37-41 9 32 5 12 42-46 6 18 12 11




Chart presentation of the above data;




Seeing the future in a wider picture needs a clear strategy and constant revisits to ensure you're doing the right things with your money.



Things you don't need inflames your economy. Be respectful to your budget and you'll later honor the benefits it comes with.






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