How Not to Break The Bank Before 2016

The holiday season is finally picking up some steam. With the Thanksgiving and Black Friday craze behind us, shopaholics can now justify spending a ridiculous amount of money at every outlet mall and restaurant within the tri-state area.

 

kanye

When someone tells me to stop spending so much money on food.

 

Here are a few phrases that will help you identify shopaholics (or admit to being one):

 

“It’s an investment.”

Is it really ever an investment? One purse, yes. Three? Maybe you should invest in something else.

 

“Shopping is my cardio.”

The only running you’ll end up doing is that from your bill collectors.

 

“Shop now. Budget later.”

Literally the worst advice of 2015.

 

But because I too use these phrases on occasion (only on occasion I swear…), I have decided to take my financial future into my own hands and try a few new tactics to get myself back on track:

 

1)      Cleaning up the credit report

credit report

 

If you know there are loans you’ve already paid off, chances are they might still be on your credit report. A couple of calls to the credit bureau and the creditor your borrowed money from go a long way. Also, a bump up on your credit score can only help right? Sign up for a site like Credit Karma to view your report for free! I’ve actually been using Credit Karma for a while now and it’s helped me a ton.

2)      Budgeting

 

expense app

 

Again, don’t listen to the “Shop now, budget later” people. Recently I’ve downloaded an app called Spending to better manage my funds. It’s simple: add your income and then your expenses. Every time you add an expense, it subtracts the amount from your income right away. Perhaps seeing Ruby Tuesday’s in your bank transactions four times in five days will be all the motivation you need to get it down to three.

3)      Thrift Shop

 

thrift

Oh the possibilities.

Hip-Hop artist Macklemore might have had a point with his 2012 hit. Contrary to popular belief, there are plenty of thrift shops that have never-before-worn items in stock. If wearing clothes someone else bought isn’t for you, then try selling your gently-worn items! It’s a great way to gain a few extra dollars to spend on those New Year’s Eve parti- I mean, to put in the bank.

 

Well hopefully I’ll stick to the aforementioned plan. Maybe I’ll even save enough to buy- ah I’m thinking of spending money already…

 

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