How To Spend Less Money

As tight...



...as a coin bank lid screwed close like there's no tomorrow.

So how does one spend less money?

I am currently in this phase in my life wherein my idea of "success" and "power" is having the ability to buy anything and everything in sight. Coupled with hang ups in past life, this becomes a killer combination, which in turn pushes one person to equate the two quoted words with money and extravagant spending. This idea is not exactly very kind to my bank account. And all the while I still feel like something's amiss. And hereon I must admit: money doesn't buy everything.

And then I came across an article in Yahoo and I thought: geez I might not be that weird at all. It never crossed my mind that there's actually a link between "feeling powerful" and "spending less". And this, my friends, will probably save your emergency funds.

Read on!

UNUSUAL TIPS FOR SPENDING LESS MONEY

Research shows that people spend money because they feel powerless. If you're struggling with debt and spending outside your budget, check out these seven ways to feel more powerful in your life...because they're also tips for spending less money!

"Consider two individuals, one a successful millionaire and the other a recently demoted banker," say researchers Derek D. Rucker and Adam D. Galinsky of Northwestern University. "Both might view a Rolex watch as a clear status symbol. However, for the millionaire, wearing the watch might not make him/her feel any more powerful than he/she normally feels. In contrast, for our demoted banker, wearing the same watch might make the banker feel significantly more powerful."

The following ways to feel more powerful in your life will help you stick to your budget. And, for more practical tips on spending less money, click on The Spend Less Handbook: 365 Tips for a Better Quality of Life While Actually Spending Less by Rebecca Ash.

7 Unusual Tips for Spending Less Money

1. Acknowledge the different types of power. You can feel physically powerful, spiritually powerful, intellectually powerful, professionally powerful, economically powerful, and on it goes. You'll probably feel different types of power in different parts of your life - and at different times of your life.

2. Recognize unhealthy versus healthy power. Being manipulative, deceitful, vengeful, or passive-aggressive are unhealthy ways of expressing power. To feel more powerful in your life, ask yourself if you're using your power for good...or to control others. Being healthy this way does affect your spending habits - because it's difficult to be healthy emotionally, and spend every penny you have (and those you don't)!

3. Rise to a work challenge. It doesn't matter if you're a store clerk, department head, or secretary of state - rising to a professional challenge increases your feelings of power. Pennsylvania-based freelance writer Lori Baer, says "Conquering a freelancing task I was nervous about fosters empowerment and greater confidence for next big thing." Look at work challenges as ways to increase your personal sense of power...and let those confident feelings increase your resolve to spend less money.

(to read the rest of the article, click here.)