The Best Money Saving Tips for Stopping the Spend Spiral

Welcome back! If you caught part 1 of my series, then you already know the basics of tracking your spending and identifying where your money's actually going. If you haven’t yet, feel free to have a look!

We're now going to focus on controlling impulse spending while still living a life you fully enjoy. This is where most money advice I’ve come across tends to get really preachy and unrealistic. Or the recommendation is to constantly clip coupons.

But I’m not doing that here!

Here's where things get tricky. Because saving money shouldn't mean never enjoying yourself. The goal is finding balance…not becoming a hermit who never buys anything fun ever again.

The guilt you feel after an impulse purchase is usually worse than just not buying the thing in the first place.

But in the moment, something in your brain convinces you that you need it. That you deserve it. That your life will somehow be better with it…

…And then two weeks later, you're staring at that impulse buy wondering what possessed you to get it.

So how do we break this cycle without turning into someone who never treats themselves? Read on to find out.

What I love about the wish list strategy is that it creates a buffer between wanting and buying. It's kind of brilliant considering how simple it is.

Here's how it works:

You keep a running note on your phone of things you want. Whenever you get the urge to purchase something non-essential, simply add it to the list instead of buying it immediately. Then revisit the list after 30 days.

You'll be shocked (genuinely shocked!!) at how many items you completely forgot about. The stuff you still want after a month? Well, now it’s worth considering. Everything else was just a passing impulse disguised as a need.

I started doing this a few years and it still shocks me. There's something weirdly satisfying about adding things to the list. It tricks your brain into feeling like you're doing something about the want without actually spending money.

And when I go back through the list a month later, I'd say 70% of the items make me think, "Why did I even want this?"

The best part comes when you DO buy something off the list after waiting, because you enjoy it more. There's no buyer's remorse because you know you really wanted it.

Unlimited spending freedom sounds amazing until you check your account at the end of the month and wonder what on earth happened to all your money!

Setting flexible limits helps you enjoy spending without feeling guilty by wondering where it all went.

Some swear by the envelope method. You put physical cash in labeled envelopes for different categories. When the envelope is empty, that’s it. You're done for the month.

It's old school, but there's something about handing over physical cash that makes spending more real than swiping a card.

Others prefer budgeting apps that track spending in categories like shopping, dining out, or coffee runs. There are tons of apps like Mint or YNAB (You Need a Budget) that can send you notifications when you're getting close to your limit in a category.

No judgment, just information.

The key word I want to stress here is flexible. Not restriction or deprivation. You can absolutely buy that Starbucks tall non-fat caramel macchiato (yes please!) or treat yourself to a new outfit. You're just doing it with awareness rather than being on spending autopilot.

Think of it like this. If you decide you want to spend $300 a month on eating out, you get to decide how to spend it. A few fancy dinners? Lots of coffee dates? Your call.

But when you hit that limit (and it needs to be a hard limit), you know it's time to raid your own fridge instead of ordering out again.

The beauty of this approach is that you're not saying "no" to yourself constantly. You're saying "yes, and here's how much we're working with." Huge difference.

Before you roll your eyes, hear me out. No-spend challenges can be fun if you approach do it right.

Pick a day (or a whole weekend) where you don't spend any money. You use what you have, get creative, and more often than not, you’ll find that you don't need to buy entertainment to have a good time.

If it’s a new concept, then I get that it sounds kind of extreme. But think about it. How many times have you spent money just because you were bored? Or because spending felt like the only way to have fun?

No-spend days are like a mini reset button. They force you to get creative and remember that some of the best experiences don't cost anything.

Here’s some ideas to get you going:

Movie marathon

The twist: use popcorn (or snacks) that you already have. Pull out all the blankets and hunker down to watch that series everyone's been talking about.

DIY spa night

The twist: use ingredients from your kitchen ingredients. Face masks from honey and oatmeal, a long bath, painting your nails. No nail polish? Give your feet a nice long soak and scrub them down.

Cook a fancy dinner

The twist: use only pantry staples. Turn it into a cooking competition if you're on the ambitious side. Get creative with what's already in your kitchen and you might find you have a new favorite meal.

Tackle an organizing project

The twist: make it something you've been avoiding for several months. It’s not glamorous, but there's something wildly satisfying about finally dealing with that junk drawer or overflowing closet.

Plus, you'll probably find stuff you forgot you had and then you can sell it!

Try a new hobby

The twist: use supplies you already own or find free tutorials on YouTube or TikTok, like hand lettering or sketching. You might realize you're really good at something you've never tried.

Have a game night

The twist: invite some of your closet friends over and have them each bring a game they haven’t played in a while. Draw straws to see who’s game you’ll play. Make it a monthly, or even a weekly event.

Bonus points if you combine your no-cost fancy dinner with game night!

Go outside

The twist: there isn’t one! Just get outside. Go for a hike or long walk somewhere new. Nature is free, and getting outside does wonders for your mental health.

The first time I tried a no-spend weekend, I was nervous. What will I miss out on? What if I get bored?

But I ended up having one of the best weekends I'd had in months! I cleaned out my closet, tried a new recipe, and finished a book I'd been halfway through for six months. ("The Hobbit", I highly recommend.)

And I didn't miss the spending at all.

When you save money, you start to break down that automatic connection between spending and enjoyment. You prove to yourself that you can have fun without opening your wallet.

It becomes way easier to make conscious choices about spending when it truly adds value to your life.

So what tip are you going to go with? One? Two? All of them? There isn’t a right answer. You simply need to create little systems that help you pause before you spend, so you're making choices instead of just reacting to every ad or impulse that crosses your path.

But wait…there's still more! In part 3 of my series on money saving tips, we're going to take a look at making your money work FOR you instead of you always working for it.

Stay tuned!