How Does Quick Access To Money Affect your Spending?

access your money to spendHaving rolls of cash in your pocket when you are out on the town is not a good idea. If you had that money safely tucked away at home or even in your bank account, it might just save you from spending it.  I persoanlly like to go out with a minimum amount of cash, even without any cards that could even give me access to the money. I know I am an impulsive buyer and could happily spend any amounts of money on absolutely nothing. So the answer for me is to simply not take the money with me in the first place.

Having easy access to your money is a recipe for disaster. Being cashed up will give you a choice to actually spend your money,  whereas having no access to your money would leave you with no choice to spend anything.  It’s not just about carrying money in your wallet or purse, it’s about being able to get to it at all. You shouldn’t even be carrying a credit card or easy access eftpos card unless you are a long way from home.

Tips to avoid having access to your money?

1.  The main tip is to not to carry too much money in your purse or wallet. Just don’t take it out! It’s that easy.

2.  Do not keep money in bank accounts that are easy to get to.  Lock your money away in non-accessable accounts. Make it hard to get to.

3.  Pay extra bills if you have extra money. Do this before you can spend it.

4.  Freeze your credit into a block of ice. Just be careful with that as my husband took my credit card on a fishing trip to keep the bait cold and fresh. I did not appreciate the smell when I finally got it back.

5.  Talk to yourself! Ha Ha Ha…. No I am not joking. Talk to yourself in your head, silently, and stop yourself from accessing your money. At least it will make you think twice.

Simply having money in the house can drain your savings, especially if you have children. Any loose change hanging around my house is swallowed up into never never land. Never to be seen again. However I find that if I do not have it there, the children seem to survive quite nicely. They really do not need to money, but use it because it’s there.

If you can try and cut down access to your money, I guarantee you will save money and spend less. Give it a try!

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