Learning to Curb My Spending | Wantlist

Those who know me well know I like to shop. Those who know me best know I like to buy.

It's an issue I've struggled with as far back as I can remember. Something about the instant satisfaction always overpowers whatever form of better judgement I thought I was capable of possessing.

Since transitioning to the real-world, though, I've had to take some serious measures to curb my spending. It's been hard, but I am slowly learning that just because I want it now doesn't mean I need it now. And this is all in part to creating what I call a "wantlist."

What's a wantlist

A wantlist is a list where I track all of the things I want. Pretty simple. But life changing.

How does it work

Anytime I think about purchasing something I don't really need at the moment, I add it to my wantlist. I store this list on my Evernote ( great app, by the way, in-depth post to come), which syncs to my iPhone and my laptop, so I can easily reference it on the go.

What's the point

The point of the wantlist is to prevent me from impulse buying. After an item is added to the list, I'll often do a little research – especially if it's a specific product – to learn more about whether or not it's something that I need and if it's something that will work for me.

Has it worked

Absolutely. For instance, I was dead-set on purchasing a new pair of running shoes in January. ( I mean who wasn't, New Year's bandwagon much? ) Pre-wantlist I would have just bought the shoes then and there. But adding it to my wantlist made me really think about the purchase...it's January and I've ran outside a total of one time...I probably won't be doing much more outdoor running until April...and I have two other pairs of sneakers that will work just fine until then. Adding the item to my wantlist made me consciously consider if the purchase was necessary at the time – which it wasn't – so I didn't buy it. Simple, but effective.

What's on my wantlist currently

1. running shoes
2. kettlebell
3. nude wedges
4. Bare Minerals Eyeshadow / The 15 Minutes
5. vivofit
6. workout gear
7. Paul Mitchell Lemon Sage shampoo

When to splurge

Once I've thoroughly thought through an item on the list, done some research, and have deemed that this is an item worthy of my money, I make the plunge. Taking some time to think through a purchase has also proved to be cost-effective, too. For example, the above eyeshadow was my February splurge, and I almost got it for half the price because I was able to combine two coupons toward my purchase. If I had impulsed, I would have paid full-price for sure.

It truly does pay to wait.
( That's not to say I don't ever impulse...I'm still human! )