Here are some great strategies for preparing for a no-spend January and improving your overall money psychology.
1- Uninstall all Shopping apps for a Month- Whenever we get free time, we scroll over one of these apps. We may do not want to buy anything but if something excites us, we buy. So, if to control your unnecessary spends you need to uninstall these apps for a month and see how it works for you.
2- Control your Temptations- You have had your Christmas, and New Year’s Eve celebrations both within a span of weeks’ time. It’s time to uninstall those food ordering apps for a month and see how you have improved in terms of health within a month.
3- Start an Investment- All the money you were spending on the things you might not need, calculate at the end of month, and invest the same amount into a high interest investment option. Keep a habit to save exactly same amount every month. You will be amazed to see what all changed in a years’ time.
4- Try to adopt Minimalist Approach- Minimalism, often associated with the “less is more” philosophy, aims to enhance the quality of life by reducing the number of elements, as a response to modern society’s excesses and consumerism, and to promote a sustainable and mindful lifestyle. In simple terms buy what is needed, avoid which can be avoided while maintaining the quality of life.
5– Maintain a Journal- By maintaining everything in writing , you are actually tracking your performance. when you this exercise you are practically making your mind to be attentive of your decision on not spending much. its like tricking your mind.