Where The Hell Is All My Money Going?
Sometimes the culprit of overwhelming clutter in your home is not the problem of letting things go… it’s the constant shopping that prevents you from getting ahead of mess and stress. This month is often called #nospendseptember where people attempt to stop spending money cold turkey on things that aren’t considered a “need”. And though, this challenge may be the thing that shocks your system, it probably won’t help with any long term solutions or get to the root of why your spending money on crap you don’t need. If you are looking to give it a try or simply want to get a better handle on your spending, here are a few key things to consider that have helped me curb some of my bad spending habits.
Where the hell is my money going? I see you. Those that make a decent living, but at the end of the month, you wonder what the hell just happened to my pay check? If you get anything out of the #nospendseptember “diet”, I hope you can backtrack and figure out some key spending patterns that you never even realized were problems before. Are you a big ticket splurger, a quick Starbucks drive-through girl, a passive revenge spender, or an unconscious internet shopper? One trick is to go back through your credit card/account statements for the past three months, and literally track what you spent on items. You can categorize them into groceries, mortgage/rent, clothing, restaurants, car, beauty, etc. When I did this, I realized that we were spending an astronomical amount of money on groceries, and to top it all off… a lot of it was going into the garbage (🤢 it made me so sick to see how wasteful we were). This happened because we weren’t planning our meals, not communicating on purchases (doubling up), and not utilizing what we already had in the fridge and pantry.
Figure out why you are shopping. Shopping can be used as a strong mood booster. One stop to Winners and that shot of dopamine is exactly what the doctor ordered. Consumerism is solely based on this and they play on our emotions. They tell us that we are not smart enough, pretty enough, and won’t be anyone of importance until we buy their product. They basically thrive on telling us that we are not good enough and shouldn’t be happy with what we currently have. Shopping while we are feeling insecure, depressed, bored, trying to fulfill some sort of void is a dangerous slope. It might have some instant gratification for a bit, but it’s never going to get to the root of your unhappiness. So try and catch yourself while you are browsing an online website or about to head into your favourite store, STOP, and ask yourself why are you really here for? Do you really need that pair of boots or are you feeling shitty and need a pick-me-up?
It’s ok to shop for things you like, but if you are an impulse buyer, these are a few questions to ask your before throwing it on your credit card: Do I really need this? Is this something I could borrow or rent? Do I have something similar at home that could suffice?
This next tip takes great discipline, but I have been getting better at it. Instead of purchasing something on the spot that I absolutely love, I wait it out. Write it down. Revisit the purchase in two weeks, and decide if it’s still worth it. Usually by the time I re-visit it, I have completely forgotten about it, or found something even better, usually at a better price. This is method tackles your FOMO (Fear Of Missing Out). This is real. Often, we are scared to miss out on an item, as advertisers have become exceptionally clever of creating this sense of urgency for you to pull the trigger. This one is tough, but has saved me a tonne of cash.
Explore your home and get a sense of what you truly own. This is why de-cluttering your home can be so therapeutic and cost effective. Often when I complete a Closet Cleanse with my clients, they tend to fall back in love with their wardrobe, realize they have more then enough items to make amazing outfits, and complete an inventory of what they are lacking, so they know exactly what to buy the next time they are out. This curbs the excuses of, “I have nothing to wear” (translation = I’m bored or overwhelmed). It also tackles the overwhelming part by omitting the stuff you actually don’t wear and putting the pieces that you love front and centre so you can be creative and fun with the clothes you already own. It also is a clear visual shock to realize that you may only need to grab one shirt to round out your wardrobe, or realize that you’ve been buying the same stuff over and over again… like that 7th pair of black jeans that you didn’t need! Once you realize what you have is amazing and is organized in a way that gets you excited about you clothes, you can significantly drop your clothes shopping simply because you are fulfilled in this area of your life.
Connect to why you want to curb your spending. Do you have a big financial goal you want to reach? A down payment for your dream house? Paying off your student debt? Saving up for retirement? Or simply want to become more intential with your spending so you have a decent rainy day fund? Always come back to your “why” and what awaits you if you become more disciplined in your shopping. Sometimes, all it takes, is to stop and take a pause, and truly be honest with yourself as to why your shopping in the first place. My “why” is a little more deeper than a financial goal, it was to demonstrate healthy spending and saving choices for my two young daughters. Not being wasteful and appreciating what we already have is the goal that I’m striving for.
So best of luck to anyone giving this a whirl this month, but remember, this whole challenge’s purpose is to help put a spotlight on your spending habits and how easy it is rack up debt if you are not careful. Becoming more self-aware is the mission this month. If anyone has any amazing tips on how they have become a more intentional shopper, please drop a line in the comments. And if you are sick and tired of wondering where your money goes, and you want a hand with this… just send me a message and we can chat on how my de-cluttering journey has significantly impacted my spending habits. I’m not perfect, but I’m getting pretty damn good!
