Did you know 54% of Americans have no emergency savings? According to bankrate.com. I read this recently and vowed to help even more women build up their savings. Part of the reason we find ourselves in a money rut is that our current habits are enabling us to spend more – not spend smarter. Most of us are not even conscious about it. I got a few of these tips from REAL SIMPLE and have put a few into my own practice as well.
1) Delete shopping websites that are bookmarked on your computer. I did this right away and thought it was one of the best new tips I had seen in a long time. At the same time, add www.msnmoney.com, www.money.com and www.bankrate.com.
2) Stop using shopping as an activity. When I was a teenager, we would go to the mall all day and called it “retail therapy”. I still see clients do this and spend money they don’t have. Only go to a store if you NEED something rather than if you are filling in time.
3) Remove your name and mailing list from catalogs. As soon as one comes in the mail, call them and ask them to remove your name. The less you see to buy, the less you will actually buy! Go to www.dmaconsumers.org Direct Marketing Association’s anti-junk mail and anti-spam registry.
4) Prepare snacks ahead of time. Those convenience store snack purchases really add up. Pack carrots, raisins or nuts, or buy the 100 calorie bag of snacks and throw it in your bag in the morning before you leave for work or your day’s activities.
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