Conscious spending is knowing what you are spending or going to spend your money on. Many Americas these days have the spend-first and react later mindset. This phenomenon is because we have lost the ability to wait, wait until it is reasonable to buy what we want, wait, put money in a savings account, and budget out expenses. All of these are examples of money management.
Have you ever signed up for a subscription and then forgotten it was there? I know I have, and I am always amazed at how much they add up after a couple of months. To have a Netflix account, you pay $9.99 monthly, which roughly adds up to $120 a year. That is for one streaming service, many people have multiple.
Paperless payments; Venmo, subscriptions, credit cards, and apple pay, were made to make spending money easier, but they have also made it increasingly difficult to spend consciously. Its hard to grasp how much money you are spending when you never physically see it leave your wallet. Here are some tips to help you spend money consciously.
Limit your subscriptions (they add up quickly)
Limit the amount of Door Dash and Ubering expenses
Fast fashion is growing in popularity (you don’t need a brand name)
Budget for your necessities (food, rent)
Comentários