How To Stop Spending Money Fast and Take Control of Your Budget

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Overspending happens to the best of us. Maybe it’s a few too many impulse buys, shopping to relieve stress or getting caught up in “can’t-miss” deals. Whatever the reason, it adds up fast and can throw your whole budget off track. If you’re trying to figure out how to stop spending money and stay focused on your savings goals, these 10 simple strategies can help.

How To Stop Spending Money: 10 Real Strategies Actually Work

To achieve financial balance, it’s vital to control spending. Whether saving, cutting debt or building better money habits, these 10 strategies can help:

Strategy #1: Build Awareness and Track Spending

To gain awareness of your financial habits, you’ll have to monitor how you’re spending money. Here are a few suggestions: 

• Log every expense. Use an app or spreadsheet to track your expenses. 
• Categorize your spending. Determine how you spend your money — what allotment goes to needs and wants. 
• Review your statements. Monitor your credit card statements, checking and savings accounts to find out where your money is going. 

Strategy #2: Create Boundaries and Replace Habits

Creating boundaries is key when trying to cultivate healthy financial habits. Here are a few techniques to practice good habits with your financial decisions:

• Choose free activities. Replace spending with free activities like walks, photography and the pursuit of hobbies. 
• Define spending limits. Before you enter a store or go online to a shopping site, decide how much you want to spend. 
• Designate cash-only activities. Allot a cash-only category for entertainment purchases so it doesn’t spill over to borrowing from your savings. 

Strategy #3: Use Tools and Systems That Reinforce Control

Sometimes you need help to reinforce your mission to stop spending and save money. Here are a few ways that can pave the way: 

• Use a budgeting app. Make sure you use budgeting apps like YNAB or Mint to help you keep track of your budget. 
• Try the 33-33-33 rule. Allocate 33% each to needs, savings and wants to stay on track with your goals. 
• Use the 50-30-20 rule. The 50-30-20 rule allows you to allocate 50% for essential spending, 30% to wants and 20% for savings. 
• Turn on low-balance alerts on your accounts. To avoid NSF and overdraft fees, set up low-balance alerts on your phone in case your balance dips too low.

Strategy #4: Avoid Common Spending Triggers

Have you identified your spending triggers? Knowing what your triggers are can be empowering because it will help you resist some purchases. Keep these recommendations in mind: 

• Unsubscribe from promotional emails. Prevent unnecessary buying by eliminating sales or promotional emails.
• Identify feelings that push you to shop. Sometimes boredom, sadness or anger may cause you to buy unnecessary items. 
• Remove saved payment methods. It is convenient to buy items when your credit card information is already saved on a shopping website or app. Remove this saved payment information so making purchases is not so automatic. 

Strategy #5: Reinforce Financial Discipline and Mindset

Consistency is the key when trying not to spend money. How do you set yourself up for success? Try these recommendations: 

• Set clear financial goals. Create a financial goal chart for yourself. Here are some goal examples:
  • Earning a certain income.
  • Stowing away a specific dollar amount for retirement.
  • Having a set amount in your emergency fund. 
• Educate yourself. Read books on financial literacy or listen to podcasts like The Ramsey Show, Afford Anything or Optimal Finance Daily. 
• Track your progress visually. Use pie charts or bar graphs to track your progress. 

Strategy #6: Make a Realistic Budget 

In order to handle spending effectively, it may be a good idea to come up with a realistic budget. Here are a few ways to match your spending habits with a budget that works for you: 

1. Calculate your after-tax income:
   • Don’t come up with your budget based on your gross income. Instead, use your after-tax income. 
2. List all monthly essential and nonessential expenses:
   • Your monthly expenses may include essential items like rent, food, utilities, cell phone bills, entertainment, etc.
   • Make sure you include any nonessential expenses as well.
3. Track your spending:
   • Use two to three months as a measure of your spending. It will allow you to realistically see what you’re spending.
   • Don’t forget to account for irregular expenses like car emergencies and medical bills. 
4. Find a budgeting method that works for you:
   • After you have a clear sense of your budget, experiment with different ways to keep track of your income and expenses. 
5. Revisit regularly:
   • As your life circumstances change, like getting a new job or having children, revisit your budget. 

Strategy #7: Avoid Impulsive Buying

Have you reflected on what fuels your impulsive buying? Understanding your triggers can help you decide areas where you need to improve. Take a look at this list to find out if any of these triggers are a problem for you: 

• Retail therapy: If shopping helps you cope, try finding other activities that bring you comfort or boost your mood.
• Chasing deals: Just because something’s on sale doesn’t mean you need it.
• FOMO spending: Limited-time offers can be tempting, but resist the pressure to buy just because a deal might disappear.
• Overstocking: It’s easy to buy “just in case,” but try to avoid overloading your cart with things you might never need.

Strategy #8: Automate Your Savings

Automating your savings can be your secret ace to financial success. It will help you stay on track with saving more and spending less.

Here are a few ways to automate your budget:

• Start with your paycheck. You can opt to have a portion of your paycheck deposited into a high-yield savings account. You don’t even have to think month-to-month whether you’ve saved. 
• Automate retirement contributions. Use a brokerage firm or your employer to contribute automatically to your 401(k) account. 
• Have different savings accounts. Use a variety of savings accounts to focus on different goals. You can have a travel savings account, a home purchase savings account or an emergency fund. 
• Set up auto transfers for extra money. If you receive a tax refund or bonus, set up an auto transfer into your savings account.

Strategy #9: Set Mini-Challenges of No-Spend Days

Make it a goal to limit or not spend money during certain days. Challenge yourself to mini sprints of no-spend days. Don’t know how to start? Take a look at these tips: 

• Designate a window of no-spending. Start small by choosing five to seven days where you don’t plan to spend money. 
• Set clear limits. Define what is off limits, whether it is clothes, entertainment or dining out. 
• Define exceptions. Allow exceptions like gas, groceries and rent during this time period. 
• Choose free activities. For entertainment, consider walking, going to the library or relaxing with a DIY spa night. 
• Reflect on your no-spend days. After the time period of no-spending is over, evaluate what was the hardest, what you learned and what habits you want to keep. 

Strategy #10: Use the 24-Hour Rule 

Sometimes when you’re walking around a store, you may feel the sudden urge or temptation to buy something that you likely don’t need. Here are a few suggestions to refrain from buying that item:

• Employ the 24-hour rule. Wait 24 hours and gauge whether you still want the item. Oftentimes, the answer will likely be no. 
• Ask yourself key questions. Ask yourself the following:
  • Do I need this or want this?
  • Will I still care about this in 24 hours?
  • Do I already own something similar?
• If you’re online, screenshot the item. It is super easy to swipe on an item online and then pay for it quickly with a few clicks. Instead of swiping, screenshot the item and revisit it the next day to see if you still want to make the purchase.

How To Stop Spending Money Based on Your Financial Goals

Be crystal clear on the “why” of your financial goals and create a plan that supports these goals.

Are you trying to pay off debt? Consider using the snowball or avalanche method to avoid taking on new credit.

• With the snowball method, list your debts from smallest to largest. Pay the minimum on all but the smallest and put any extra money toward knocking that one out first. Once it’s paid off, move to the next smallest.
• The avalanche method works similarly, but you prioritize debts with the highest interest rates first, which can save more money over time.

Saving for a big goal? Set up a separate savings account and transfer small amounts each week — like money saved from skipping takeout or returning something you didn’t need. Over time, those small wins can add up to something meaningful.

Final Take 

Start with just one small change this week — whether it’s planning a no-spend day, unsubscribing from promo emails or setting a simple savings goal. Breaking bad habits doesn’t happen overnight, but small steps add up quickly. Your future self will be glad you started.

Caitlyn Moorhead and Elizabeth Constantineau contributed to the reporting for this article.

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