Tuesday, June 5, 2012

40-Days without Shopping: Morning Show Highlights

It's pretty safe to say that we all would like a little more cash in our wallets.  This morning we talked about a particular 40-day Money Challenge that a gentleman took where he did not shop for anything other than necessities for 40 days.  I think it would be difficult, but do-able with a little discipline.  

J. Money, a writer of a personal finance blog, did this for Lent one year and ultimately saved between $300 and $400.  He didn't cut out essentials such as groceries, but he did stop buying anything he considered, "a 'want' over a 'need.'"  J.Money says, "The No. 1 thing that helped me throughout the process was simply not walking into any stores at all. It seems pretty obvious, but it took me at least a week or two to realize that every time I walked through those doors I was immediately putting myself into tempt-land. As soon as I avoided them altogether, it got much easier."  He also suggests avoiding online shopping sites. 

When you do shop you can spend less money by taking a few extra minutes to make a list.  It will help you keep track of the items you really need and keep you on budget.  Speaking of budgets, make sure you have an idea of what you can spend before you go to the store.  It will keep you from making impulse buys. 

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