How to control your spending

It's been some challenging times that we are now living in. The economy doesn't look good but on a bright side (looking at the glass half full), the opportunity to be a good steward is here. My aim is to acknowledge Him in all my ways, gather little by little and be a good steward.

Here is something that I read from Christpf.com
http://www.christianpf.com/how-to-control-spending/

Have a blessed day!

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How to control spending

Control your Spending
The day Janet came to see me she appeared to have it made: years into retirement, she had a few hundred thousand in various savings accounts, a house that was paid off, and financial freedom. However, what appeared to be built on solid ground in reality had a foundation made of sand, and possessed the ability to become quicksand if immediate financial remedies were not administered.

Janet lived a secret life as a closet shopaholic. Her late husband had kept her on a very short leash. She had no freedom to spend any money on herself while her husband was alive, and after he passed away, she became addicted to spending. It started out harmless enough with a few trips to the department stores, and then she upped the ante by watching the home shopping networks. Before she knew it, she was hooked. She spent hours by the TV, scouring for good deals and spending thousands of dollars a day on purchases she was not even opening when the items were delivered.

She often bought things she already owned from previous episodes. She became a collector, collecting the day’s latest sales. She wanted to stop, but she couldn’t. She was like a heroin addict who kept saying, “Just one more fix, one more. This is it, I promise.” This went on for years. Her daughters were even deceived by their mom’s habits. It wasn’t until Janet and I met that we began to look at the symptoms of her problems and how close she actually was to financial disaster. After “financial” therapy, Janet is back on track. We need to explore what money meant to her and develop new healthier behaviors. She has learned how to get her spending under control, give money to causes she cares deeply about, and still have financial freedom.

Put your spending under God’s control
Once you recognize that you are a steward of God’s resources, you often will begin to look at spending from the vantage point of whether He will be pleased with the purchase. Also, discover the factors that drive you to spend money. This could be anything from self-esteem to feeling like you just need a pick-me-up. When you go to shop, justify the reason why you are going, set a spending limit, and have a written list of what you need. This will help you avoid the many spending pitfalls.

A great way to control spending is to find a partner to hold you accountable for everything you spend for a specified period of time.

Ecclesiastes 4:9-10 “Two are better than one because they have a good return for their labor. For if either of them falls, the one will lift up his companion. But woe to the one who falls when there is not another to lift him up”

When accountability is in place, your partner is aware of your weak spots and you both can focus on ways to become more cautious with your spending habits. If looking keeps you tempted, don’t look. Window-shopping often leads to purchasing. One great way to maintain accountability is to develop a spending record.
Keep a list of spending and purchases and share these with your accountability partner. This list will include everyday items as well as monthly items. Review this at least twice a month with your partner. Pray for and encourage each other.

Financial Freedom Can Become Your Reality!
Wealth comes to those who spend carefully, use debt wisely, and develop a regular savings program. There are some common threads that run throughout many areas of one’s financial life. When I look at where the typical family in America is financially, I am saddened. I believe that if each family lived with these rules, the world would be a much better place:

1. Live below your means.
2. Allocate time, energy, and money efficiently to build wealth.
3. Turn to God in times of need.
4. Question needs versus wants.
5. Financial freedom is more important than high social status.
   

Are you working for your money or is your money working for you? Until you learn how to control spending, it doesn’t matter how much you make, it will be difficult to achieve true financial freedom!