What might a money cleanse be about? Well, it’s analogous to a detox of any sort. It’s where you take a long, hard look at – in this case - your financial landscape and figure out what you need to do to make it better. Extra vitamins won’t help in this case, sadly. Changing spending habits will.
Here’s some examples of what you might do:
Two options here: closing one’s eyes and pretending it isn’t happening or confronting it. One of these will get you on a hamster wheel of angst where debt increases and you get steadily more anxious or….. face the demon and see how you can manage it. Consider the concept of not doing minimum monthly payments.
Hide your credit card(s)
Crafty souls have memorised those 16 numbers, expiry date and digits on the back. Don’t. Pretend you don’t have one/any. Try and remember Amazon is the name of a river and nothing else.
Stop impulse spending
That means the coffees with fancy names; overdoing the Deliveroos and Just Eat; do you really need to front row for everything?
Budget to budget
Try living comfortably within your budget as opposed to straining it. Then you can – deep breath – start to save money.
See if this is a thing for you. Many people spend and spend extravagantly when they’re feeling less than their jolliest. That dress/jacket/shoes etc can sometimes seem like the perfect balm. We’re only human. But if you see the link the maybe you can address it?
Talk To You Partner
Your partner – especially if you live together - needs to buy in if you want to make changes in your financial life. This is a process you could potentially share together. And if they are a little hooked on shopping and la vida loca then perhaps you can be the instigator here?
Finally, research suggest your financial mindset – values, habits etc – is formed when growing up. If those values and habits aren’t working for you then maybe consider ways you can override them?
Financial cleansing is not an easy option. But you should start to feel the benefits soon enough.