These techniques have served to not only save me money, but save the headache for friends and family when they want to find me a gift for my birthday or the holidays.
Anytime throughout the year that you get the urge to buy something new for yourself, immediately put it on your wishlist and walk away(Amazon is great if it can be found on there, but if not, just write it down any old place).
Maybe you have a favorite fast food, fast casual restaurant or coffee shop that you constantly find yourself wasting money on? Put a gift card for that establishment on your list.
Do you utilize Uber, Lyft, or anything similar on occasion? Gift card. Wishlist.
Same goes for any regular service you use. Haircuts? Oil changes? If there’s a gift card for it, it goes on your wishlist.
Now here is the important part. If it’s an item you can live without until someone gets it for you for your birthday etc, and you were just about to buy it, put the money you would’ve just spent into savings. Do this every single time you walk away from an impulse buy and put it on your wishlist instead.
Now maybe you can’t skip your haircuts and oil changes or that Uber ride from the bar right now, but once you DO get a gift card for those things and need to use it? Put the money you would’ve spent on it into that same savings pot.
I promise that over the course of the year, you will grow a very long wishlist for family members to pick from. Next Christmas you’ll get gifts you actually want, and you’ll have a bunch of new savings in your bank account!
Extra pro-tips for your wishlist:
If you’re making your wishlist on Amazon, use the priority feature to label your items from lowest to highest priority so that people know which gifts you want the most. (You can obviously do this on your own written list as well)
Don’t do this for only “big” impulse buys. Every little bit adds up in savings, and keep in mind, not everyone can afford the same gifts. Someone will be really happy to buy you those cute printed socks.
If someone gifts you money for your Bday or a holiday, use it to buy something on your wishlist! It’s a gift after all. Then if you write them a thank-you card you can say you used the money to buy that thing you’ve been wanting all year!
TL;DR When you get the urge to impulse buy, put the item on a wishlist and the money you would’ve spent into savings. Ask for gift cards for services you regularly use and when you use the gift card, put the money you would’ve spent into savings.
January 05, 2018 at 10:11AM
