Personal Finance

3819 readers

1 users here now

Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!

Note: This community is not region centric, so if you are posting anything specific to a certain region, kindly specify that in the title (something like [USA], [EU], [AUS] etc.)

founded 1 year ago

MODERATORS

WandererLagomorph799@lemmy.ml

nieceandtows@programming.dev

nieceandtows@lemmy.ml

How to curb unnecessary consumer impulses? (lemmy.sdf.org)

submitted 1 year ago by wesker@lemmy.sdf.org to c/personalfinance@lemmy.ml

12 comments fedilink hide all child comments

I am very lucky to have a chunk of disposable income every month. However, I want to invest and save most of it, because I recognize that disposable income can quickly disappear given the right circumstances.

My problem is a time old one, that I struggle with material desires, and how easy it is to treat it as play money.

Does anyone have any advice how to offset those impulses or otherwise make it easier in the moment to check myself?

you are viewing a single comment's thread
view the rest of the comments

[–] ATQ@lemm.ee 11 points 1 year ago (1 children)

Invest a portion of your disposable income automatically, and make “paying yourself” the first bill you pay. But make sure a portion of your disposable income is also fun money. That is what you can impulse spend, no questions asked. But when it’s gone, it’s gone. This whole process is just budgeting. You’re an adult and make reasonable money. You can be an adult with this too. You don’t have to trick yourself.

[–] wesker@lemmy.sdf.org 4 points 1 year ago* (last edited 1 year ago) (1 children)

You're right. I think my biggest hangup is I spent most of my life, adult or otherwise, scraping by. So up until now my concept of budgeting would only include paying bills by nature. I guess I do need to just advance my approach to budgeting.

[–] ATQ@lemm.ee 4 points 1 year ago

I hate to link back to Reddit, but the /r/personalfinance sidebar had great information. Especially the flow chart. Start there. Best of luck!