Tips To NOT Overspend in 2013 + a $100 Cash Giveaway

I am proud to be a part of a fun personal finance blog project and giveaway organized by Jeffrey over at Savings Advice.com. The theme of this giveaway is the “No Spending Challenge”. It can definitely be a challenge to not overspend. As I have already documented, I have a huge Weakness For Bright and Shiny Gadgets which makes it especially tough for me. I swear they just call out my name and slowly reach in my pocket for my credit card. With that in mind here are a couple tips to avoid overspending on stuff you really don’t need, followed by the easy entry form to win $100 cash via PayPal. Make sure to get yourself entered…

Freeze the Dam Things

The tip of freezing your credit cards in a huge block of ice was first introduced to me back in 2007 by Lynnae at Being Frugal.net. This may seem silly and childish, but if you are in a position where you can’t afford to add any more expenses to your credit card balances, freezing your cards is not so silly. For many, it is a necessity. The key here is to make sure you freeze them in enough water that you can’t read the numbers. By going without your credit cards you force your brain to re-think how you spend money. The Take-Away: By the time you defrost the dam things the impulse to buy will have worn off.

Enforce A Cool-Down Period

The next time you’re brain is telling you “I need this, I need this NOW” try this technique. Make your brain think about something else for a 10-minute cool down period. Read a magazine, do jumping jacks, mow the lawn, stare at sun, whatever, just do something other than think about the product you want to buy. The Take-Away: If you can get through the 10 minute period the impulse to buy will have hopefully subsided.

Have you tried either of these techniques? If so, were they successful? I look forward to your comments. Now go win yourself $100 bucks!

6 Responses to “Tips To NOT Overspend in 2013 + a $100 Cash Giveaway”

1. DC @ Young Adult Money on January 17th, 2013 5:17 am

   I definitely know some people who have frozen their credit cards. It definitely would force you to think about your purchases if you have to wait for the ice to melt!

   Happy to be co-hosting a giveaway with you.
   DC @ Young Adult Money recently posted…$100 Giveaway – No Spending Edition

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2. Kyle on January 17th, 2013 8:08 am

   Hey David, I agree, I would have done it back when I was in major CC debt if I had thought of it. I just cut my cards up and didn’t use them at all.

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3. The Happy Homeowner on January 17th, 2013 11:25 am

   I’ve definitely employed distraction techniques to avoid mindless purchases–it usually does the trick!

   Happy to co-host as well!
   The Happy Homeowner recently posted…Do No Spend Days Really Work? (and a CASH GIVEAWAY!)

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4. Kyle on January 17th, 2013 11:35 am

   Hi THH – It really does work for me. If I didn’t use it I would own an iPhone 2, 3, 4, & 5. Not to mention 2 iPads and a couple iPods for good measure.
   Kyle recently posted…Tips To NOT Overspend in 2013 + a $100 Cash Giveaway

   [Reply]

5. Patti on January 18th, 2013 1:47 pm

   I have actually decided to do a no spend challenge for clothes and accessories. My husband thinks I’m crazy. I think I’ll start off just trying for 100 days first. If that goes well, who knows maybe a full year.

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6. Clara on March 13th, 2013 10:21 am

   For me most of my money is spent on my children, but the one thing I did so that I would have extra change to have when in need is to quit smoking, on average I as 01-13 I was spending over 200 a month on cigarettes, I know that is outrageous but it’s true! I was surprised my self, so when I was done figuring that out I instantly quit! I take it day by day but with those numbers I think about it everyday and that’s how I am able to do it!

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