GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
it’s possible for you to read more about oureditorial guidelinesand our products and servicesreview methodology.
Not only that, but it also can wreak havoc onfinances.
A spending habit thats fueled by seemingly must-have products and the urging of influencers can be difficult to curtail.
Here are four strategies that may help.
Also seefour ways to avoid bad financial advice on social media.
Money values come from your personal experiences, including family values and cultural influences.
Create a Personalized Budget
Tracking your expenses shows you where your money is going.
It helps you catch patterns, spot unnecessary spending and make better decisions.
Tracking even small purchases matters because it can shed light on habits you might not notice otherwise.
It alsomakes you pause before you spend.
When you record every purchase, youre more likely to think about whether you really need it.
Guntrip said that this process may lead to mindset shifts that encourage intentional spending and increased saving.
Keep in mind, however, that budgeting doesnt have to be all work and no play.
In turn, brands use that information to place targeted ads right in your feed.
For example, if youve looked something up online, youll probably start seeing ads for it.
This steady exposure can influence you to buy something you were already thinking about orpush you to spend impulsively.
Do what you’re free to to curate your feed with intention.
Its so easy to tap or click to purchase something online.
it’s possible for you to also implement Guntrips strategy of waiting 24 hours.
If you see something online you want to buy, give it a day, she recommended.
Most impulse purchases lose their appeal once youve had a little space to think.
Ask yourself: Would I still want this if no one else saw it?'
More From GOBankingRates
Source
Share This Article:
