Does your paycheck always run out before the next payday? Is it possible you could be wasting a few dollars each month? Take a few minutes to read the information below and complete the exercises.
Where to start?
Learn what causes or triggers you to spend money. It may be yard sales, bargains, or perhaps when you feel sad. What are your spending triggers? Circle those that describe you.
|Dollar stores||Feeling bored||Gifts|
|Catalogs||Feeling happy||New season|
|Cash in your pocket / purse||Feeling sad / angry||______________________|
|Credit card||"I deserve this"||______________________|
|Money in the bank||ATM, check cards||______________________|
- Remove your triggers. If yard sales make you spend money, reduce the number you visit. If cash in your pocket makes you spend, carry little or no cash. Circle or write your ideas to stop your triggers.
Write lists Assign children as the "money police" Carry "Spending Emergency Card" Check out in the "no candy" line Write money goals Ask friends for support and encouragement Draw and hang pictures of goals List things that cheer you up List some free family activities ____________________________________ Carry less cash ____________________________________ Leave credit cards at home ____________________________________ Leave checkbook at home ____________________________________
- Use the Spending Emergency Card each time you are tempted to spend money. Cut it out and place it in your wallet or purse. (See below.)
- As a family, make spending rules. Common rules are listed below; add some of your own:
A. Always shop with a list D. ______________________________ B. Set spending limits for all spending areas. E. ______________________________ C. Don't spend more than you can afford. F. ______________________________
Weekly Spending Log
Keep a record of your spending this week. It can help you learn about where your money goes.
|Day||Time||Purchase||$ Amount||My Feelings|
For more information, contact your local Virginia Cooperative Extension Office.
|Spending Emergency Card|
When a spending trigger hits you, take this out and answer
the questions honestly.
of Illinois Extension
Reviewed by Mabel Dianna Edlow, Extension Specialist, Virginia State University
Virginia Cooperative Extension materials are available for public use, reprint, or citation without further permission, provided the use includes credit to the author and to Virginia Cooperative Extension, Virginia Tech, and Virginia State University.
Issued in furtherance of Cooperative Extension work, Virginia Polytechnic Institute and State University, Virginia State University, and the U.S. Department of Agriculture cooperating. Edwin J. Jones, Director, Virginia Cooperative Extension, Virginia Tech, Blacksburg; M. Ray McKinnie, Administrator, 1890 Extension Program, Virginia State University, Petersburg.
May 1, 2009