Get Rid of Impulsive Spending With the 3D Method
It’s easy to buy things mindlessly, and impulsive spending can ruin your budget and undermine your financial goals. For a more informed spending experience, try what DailyFinance calls a “3D strategy.”
The strategy comes from Ellie Kay, author of Lean Body Fat Wallet . The three D’s simply mean: define, distract, and defer. According to Ellie Kay, this is how it works in practice :
If you go to the mall and just buy the shoes your son needs, you start out with a determination not to buy anything you don’t need. Then you see the stunning discounted Jimmy Choo shoes in the window, but you know they are not in your budget.
So you get distracted by going to another store and buying shoes for your son. Then you put off your journey by promising yourself that you will be back in a week or two if you have the money in your budget to buy these shoes. Chances are you won’t come back.
This is a simple enough process to memorize, and these steps can go a long way in ensuring that your spending is mindful. For more details, check out the full publication at the link below.
How To Stop Emotional Overeating And Waste | DailyFinance