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How Do You Balance Spending When You Are Trying To Pay Debt?

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Do you sit at the end of the month and wonder where all your money went? It is unconscious spending. So, here is how you balance spending when trying to keep more in your pocket.

 

There is always a way out, even when you feel like you are in a deep hole. Let’s get into it:

 

 

Understanding your spending habits

 

Track your expenses and the emotion when you make the purchase. What you aim to do here is know exactly where your money is going. And you want to be aware of spending more on days you feel sad, frustrated, anxious, etc.


Understand your patterns. Once you recognize a pattern, you can take action and start your toolbox of ideas of what you can do instead of spending that brings equal happiness.


Prioritize needs vs wants. How many of those purchases were a need? Identifying the purchases between these can help you remove the guilt.

 

 

Practical strategies to spend less

 

Create a budget and get comfortable following it. Add all your expenses and bills due, but remember to add fun to the budget for a sustainable approach.

 

Practice mindful shopping. Mindfulness can help curb impulse purchases. Ask yourself if the purchase is a need or a want. Take a step back and see what your body is feeling. Perhaps you are overwhelmed with emotions that are leading you to spend.

 

Create a list of activities that bring you joy and can ground your nervous system. For instance, go for a walk, run, drive, phone a friend, color, or paint. Shopping often gives you temporary happiness but comes with a high price tag. This list can help you ground and provide you with joy.

 

 

Cultivating a spending-less mindset and adopting a long-term focus

 

Curving the need to want something new. When it comes to home decor, a simple hack to try is rearranging your home to give you that same feeling of newness and refreshed. When it comes to clothing, you can rotate your clothes so that they always spark joy because you have not seen that item in a while.

 

Revisit your list of low-cost or free activities. Thinking at the moment can feel overwhelming, but planning can help you spend less on activities and have equal fun.

 

 

The power of spending less

 

Financial freedom: You are saving money to invest it and let that money work hard for you while you focus on rest.

 

Reduced stress: Practice reviewing your budget to start building the habit of seeing your numbers.

 

Increase joy: Instead of seeking joy in materialistic items, you can now find enjoyment in little pockets of peace throughout your day. We often forget that we once hoped to be where we are.

 

 

The idea is not to be frugal or about deprivation. The idea is to create a habit of understanding what leads to overspending and get to the root of it. There is a lot of emotion around money, but I want to help you use money as a tool to get ahead financially. I want you to stop living paycheck to paycheck and ditch the survival mode you are experiencing.

 

Increasing your income can help you reach your financial goals faster! You should understand that you can find a limited amount of money in your budget to send to debt. However, the amount you can earn is limitless! You reduced spending and are ready for the next step, increase your income.

 

 

When we work together:

 

  • I help you create a budget that aligns with your lifestyle
  • I help you increase your income to reach your money goals faster
  • I help you stop overspending and increase confidence in your money
  • I help you address the root of your spending matters by addressing your money story

 

If this resonates with you, I invite you to work with me! I want to help you feel less stressed and anxious about your money. I want you to feel empowered to build your dream life and trust yourself. Book a sales call.

 

I cannot wait to be part of your journey!

 

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ABOUT AUTHOR
Orlenda Cortez

Welcome to my corner on the internet! I’m obsessed with using money as a tool because it led me to pay off $30K in consumer debt in a year and a half, helped me save $20K in nine months to have my dream wedding in Costa Rica and is helping me build the life I never saw my family experience. Now I want to help others do the same!

Orlenda Cortez
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