Rachel Cruze Shares 10 ChatGPT-Approved Tips To Stop Overspending
Delay Gratification
Especially now that you can buy things directly from your phone, it’s easy to make impulse purchases that bring initial joy, but throw your long-term finances off track. People who don’t overspend understand delayed gratification, so they put careful thought into their purchases.
Cruze explained, “Delayed gratification shows a level of maturity where you can walk away from a purchase, sleep on it, see if you still want it a day or two later, and then you can go back and buy it.”
Reduce Decision Fatigue
Since you already have many decisions to make each day, having routines is important for avoiding impulsive financial decisions that make you overspend. For example, you might schedule regular times to review daily transactions, go to stores and pay certain bills. However, Cruze said some spontaneity is still OK.
Actively Practice Gratitude
Cruze discussed the common assumption that buying more things will make you happy and the importance of gratitude, which brings you contentment. You’ll likely make fewer unnecessary purchases once you realize that chasing items won’t bring you the fulfillment you’d like, and focus on the good things you have. In a blog post, Cruze wrote that avoiding comparison is a key step for being content with your life.
Stay Off Autopilot
While sometimes helpful, automating your finances comes with risks that could harm your wealth. For example, you might forget to cancel that recurring subscription you don’t use or raise your automatic investment contribution percentage as your finances change.
While ChatGPT advised against being on autopilot, Cruze discussed a more balanced approach, such as ensuring you’re always paying bills on time, but making some purchase and savings decisions yourself.
Regularly Unfollow and Unplug
Whether you see ads for products or posts from influencers promoting exciting lifestyles, your social media use can negatively affect your purchase decisions. Smart spenders recognize this.
“So, they use social media, but they actively unfollow people who tempt them into comparison or jealousy,” explained Cruze. “They also pay it forward and gut check their motivation with their own posts.”
Recognize Patterns
Certain feelings or situations can lead you to unnecessarily spend money, so recognizing such patterns can help you be more intentional. Cruze mentioned boredom, busyness, insecurity and stress as some examples of what could trigger overspending. She encouraged replacing spending money with healthier moves like visiting a friend, reading a book or writing in a journal.
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