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Life, Love, & Money
With Kimlee
Long Island Advice
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 Welcome~
Life,
Love and Money are all such essentials in the regular day-to-day…
When
was the last time that you did or didn’t think about your life, love or your
money? What is life without love?
How about life without money? What is going on in your life? What
would you like to share? Do you need some advice?
Let me hear what is going on in your day-to-day…
~Kimlee |
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EDITORIAL OF THE WEEK
Saturday, October 28, 2006
Author: Kimlee, Financial & Advice Specialist
Overspending Habit
If you overspend; Here are some of the ways to kicked the
overspending habit:
Track your spending. Write down every dime that you spend and
what you buy. When I started doing this, I even wrote down the days
of the week that I spent the money to help me identify when I tended
to spend more. Tracking will tell you where ALL of your money is
going. It will identify your spending "black hole" so you will know
what areas you need to work on the most. Being aware of your
weaknesses is the best way to cut back.
Don't use shopping as a hobby. If you aren't shopping for
something specific, go to the park instead. My friends and I used to
go to the mall for fun, and this was a big mistake. I think there
must be a law that says, "you can only find things you want to buy
when you have no money to spend", thus encouraging you to charge.
If you are easily tempted, stay out of the store where you spend
the most. Go to a specialty store or discount store instead. If
you must go to that store, don't look around. Even if you find
things on sale, they aren't saving you money unless you had planned
to buy them anyway.
Pay with cash. Decide how much you are going to allow
yourself to spend before you go to the store. Take that amount with
you in cash. Do not take your checkbook or a credit card. This will
keep you from buying impulse items. I don't know anyone who wouldn't
be embarrassed at the checkout by having to put things back because
you don't have enough money.
Make a list. Write down everything that you need and stick to
the list. I believe that a realistic budget is one that does not
make you feel like you are suffering, but keeps you within your
means. Since I felt that I could not stop shopping "cold turkey" I
used to allow myself one small item not on my list. This allowed me
the freedom I craved but still kept me within my budget.
Give yourself a three-day waiting period. If you see
something that you want that you had not planned to buy, wait three
days to buy it. This will give you time to really think about the
purchase and if you really need it.
Figure up how many hours you had to work to buy that item. Is
it really worth it?
Change the way you think. Instead of getting pleasure out of
wearing a new outfit, get happy when you have money in savings.
There is nothing more empowering than resisting your urges and being
able to feel good about yourself!
 have
the courage to question & challenge the status quo... refuse to
accept "traditional" thinking and answers as fact....
~Kimlee
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