Empty-Purse Syndrome

If you pay a daily visit to the ATM but your purse is always empty, you’re spending money without even realising it. Tick all the statements below that make you think, ‘That’s me!’ then read on for expert advice on sorting those spending habits for good.

FRITTER FACTOR #1: Convenience Spender	• I like everything to be perfect • I never wait before buying an item • I find that I frequently ‘need’ stuff my friends don’t have • I own at least three pairs of shoes I’ve hardly ever worn If you agree with two or more... ‘Thinking that you need something, rather than understanding that you just want it, justifies the purchase in your mind, especially if it’s something more practical.’ Sort it: ‘Try physically separating your money into different coloured envelopes at the beginning of each month,’ Birtles suggests. ‘Then give them labels, such as clothes, household, socialising, etc. When one envelope is empty, you’ll be forced to prioritise your needs, buying some items now and waiting to buy others.’
FRITTER FACTOR #2: Emotional Spender
FRITTER FACTOR #3: ‘It Doesn’t Count’ Spender

Author: Katy Massey