Black Friday is the biggest shopping day of the year, with 155 million shoppers.
But 42% end up regretting what they purchase.
Here are 19 ways to avoid overspending and ditch the consumer mindset:
But 42% end up regretting what they purchase.
Here are 19 ways to avoid overspending and ditch the consumer mindset:
First, what are the signs you have a consumer mindset? You:
• constantly return things
• buy more than you planned
• regularly buy things you have
• hide purchases from your family
• have no storage in your home OR
• have a storage unit
Here is how to ditch it ↓
• constantly return things
• buy more than you planned
• regularly buy things you have
• hide purchases from your family
• have no storage in your home OR
• have a storage unit
Here is how to ditch it ↓
1. Acknowledge you can do it
54% of Americans have credit card debt, but that means 46% don't.
Don't let your past mistakes determine your future decisions.
You have the power to change it, but the first step is to believe.
54% of Americans have credit card debt, but that means 46% don't.
Don't let your past mistakes determine your future decisions.
You have the power to change it, but the first step is to believe.
2. Become aware of the advertisements around you
Too often we buy things because of unconscious cues. Marketers know you, so quit falling prey to their games.
Pause before you buy and be intentionally aware of being sold to.
Too often we buy things because of unconscious cues. Marketers know you, so quit falling prey to their games.
Pause before you buy and be intentionally aware of being sold to.
3. Think like an investor
Everything has a cost today and in the future.
Think about the return on investment instead of the current cost.
Everything has a cost today and in the future.
Think about the return on investment instead of the current cost.
4. Find new role models
You become like:
• what you consume (movies, books, etc)
• who you are around
• who you admire
Ditch the Kardashians and instead choose @joshua_becker (a well known minimalist).
You become like:
• what you consume (movies, books, etc)
• who you are around
• who you admire
Ditch the Kardashians and instead choose @joshua_becker (a well known minimalist).
@joshua_becker 5. Put space between the impulse and the purchase
I have the 24-hour rule. I have to wait 24 hours between wanting and buying.
It has saved me THOUSANDS and that is not an exaggeration.
I have the 24-hour rule. I have to wait 24 hours between wanting and buying.
It has saved me THOUSANDS and that is not an exaggeration.
@joshua_becker 6. Ask different questions
Instead of asking "what does it cost?"
Ask "what value is it bringing to my life?"
This framing changes your relationship with the purchase and raises the bar.
Instead of asking "what does it cost?"
Ask "what value is it bringing to my life?"
This framing changes your relationship with the purchase and raises the bar.
@joshua_becker 7. Consider the cost of ownership
Everything has a maintenance cost and a replacement cost.
• What costs will you have because you own it?
• What will you replace it with when it wears out?
Replacement cost is often ignored but consistently derails our spending.
Everything has a maintenance cost and a replacement cost.
• What costs will you have because you own it?
• What will you replace it with when it wears out?
Replacement cost is often ignored but consistently derails our spending.
@joshua_becker 8. Track your spending
By tracking your spending you illuminate it.
Too often this practice reveals where perception of our spending didn't meet reality.
Sometimes this is enough to create change.
By tracking your spending you illuminate it.
Too often this practice reveals where perception of our spending didn't meet reality.
Sometimes this is enough to create change.
@joshua_becker 9. Focus on your goals
Our spending often doesn't align with our goals.
Always view purchases through the lens of your goals.
Is this purchase getting you closer or further away from achieving your goals?
Our spending often doesn't align with our goals.
Always view purchases through the lens of your goals.
Is this purchase getting you closer or further away from achieving your goals?
@joshua_becker 10. Hide your credit cards
If you're tempted to spend, make your credit cards inconvenient.
If you have a spouse, make them give you the card for every purchase.
That road block is often enough to stop you from spending.
If you're tempted to spend, make your credit cards inconvenient.
If you have a spouse, make them give you the card for every purchase.
That road block is often enough to stop you from spending.
@joshua_becker 11. Go on a cleaning spree
You have a lot of junk. It's true.
Cleaning your house can reveal how much junk you truly have and make you not want to purchase more.
You have a lot of junk. It's true.
Cleaning your house can reveal how much junk you truly have and make you not want to purchase more.
@joshua_becker 12. Take pride in worn things
Take pride in taking care of things and owning them for a long time.
Take pride in having the oldest car in your family.
Take pride in the jacket you've had since high school.
Take pride in taking care of things and owning them for a long time.
Take pride in having the oldest car in your family.
Take pride in the jacket you've had since high school.
@joshua_becker 13. Avoid free items
The price of free is the clutter they create and the consumer mindset they perpetuate.
Don't fall for this trap.
Side note: this is even true for digital clutter.
The price of free is the clutter they create and the consumer mindset they perpetuate.
Don't fall for this trap.
Side note: this is even true for digital clutter.
@joshua_becker 14. Live like you travel
When you travel, you have limited storage capacity.
Think of your home in the same way.
When you travel, you have limited storage capacity.
Think of your home in the same way.
@joshua_becker 15. Get rid of furniture
Furniture means more surfaces to put your junk on.
If you remove furniture, you have less places to lay your paper, clothes, etc. and you'll be more likely to put them away.
This also helps you purchase less, because you can't imagine where it'd go.
Furniture means more surfaces to put your junk on.
If you remove furniture, you have less places to lay your paper, clothes, etc. and you'll be more likely to put them away.
This also helps you purchase less, because you can't imagine where it'd go.
@joshua_becker 16. Turn off the TV
You're constantly being sold to when watching TV. Turn it off and go outside or play a game.
Anything besides wasting your 4 hours per day (this is the AVERAGE).
You're constantly being sold to when watching TV. Turn it off and go outside or play a game.
Anything besides wasting your 4 hours per day (this is the AVERAGE).
@joshua_becker 17. Put down the magazine
Magazines are chocked full of advertisements.
And many of the articles are indirect advertisements as well.
Magazines are chocked full of advertisements.
And many of the articles are indirect advertisements as well.
@joshua_becker 18. Be more generous
A spirit of generosity spills over to your spending.
Look for ways to volunteer your time and money to help a cause you care about.
A spirit of generosity spills over to your spending.
Look for ways to volunteer your time and money to help a cause you care about.
@joshua_becker 19. Have a mindset of gratitude
If you're reading this, you're privileged.
A great way to have a mindset of gratitude is to journal each morning what you have to be thankful for.
If you're reading this, you're privileged.
A great way to have a mindset of gratitude is to journal each morning what you have to be thankful for.
@joshua_becker With all people, things, and deals around you, it can seem hard to ditch a consumer mindset.
But there is a better way.
There is peace, happiness, and contentment in ditching the consumer mindset.
But there is a better way.
There is peace, happiness, and contentment in ditching the consumer mindset.
@joshua_becker Hopefully, this helps reframe your consumerism mindset just a little bit!
If you enjoyed this, follow me (@KurtisHanni) as I reflect on this journey of life.
RT the first tweet to share it with others:
If you enjoyed this, follow me (@KurtisHanni) as I reflect on this journey of life.
RT the first tweet to share it with others:
@joshua_becker Financial literacy is one of the most important skills you can learn.
Each Thursday I help 7k+ rethink their relationship with money.
Join them here:
newsletter.kurtishanni.com
Each Thursday I help 7k+ rethink their relationship with money.
Join them here:
newsletter.kurtishanni.com
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