Emotional Spending Tips for Single Parents

by admin on April 5, 2011

For most people it seems like no matter what you do there is no way to save any money.  When you are a single dad (father) or any single parents for that matter it may seem even harder than ever before.  You have a family to worry about and there are plenty of other obligations to go around.  Sometimes obligations can turn into a full on emergency that requires your time and your money.  No matter which way you turn there is always your money that needs to be handed out.

One of the biggest hidden factors into where your money goes is what’s called emotional spending.  What that is, is that when you are having a bad day you go and spend some of your finances on things that you may or may not need to help you feel better.  Almost all of us have done something like this during the course of our lives but, there are some that continue to do it not matter what the cost. 

Now if you are looking to try and provide yourself your own version of some financial help, please look at some of our tips listed in the paragraphs below.

One of the easiest ways to fall into the emotional spending hole is not avoiding temptations.  If you know that some of the stores in your area have really high pressure sales people or they have a marketing technique that always seems to get to you then try to avoid shopping at the store until you can get your spending under control.  If you can’t avoid these stores, try not to take your wallet or purse in with you and only take the money in for the things that you need.  If you seem to always be leaning on your savings account, you should try and set up a service with the bank to where you have to be in the bank and physically sign for the money in order to withdraw it.

Try to start to be familiar with your emotions and notice the times when you start to feel like you need to go buy something to feel better.  If you can recognize the signs, then you will be able to start to gain control of your habit.

Clearance racks are another way that little transactions can add up to a lot of money if it goes unchecked.  It might seem like a good idea to always be looking through what is on clearance and what is on sale but, if you are not careful those little numbers add up to one big one. 

You should treat your money saving adventure like a diet.  If you starve yourself then you are not going to be healthy and you will end up cheating on your diet.  The same goes with finances and how you should deal with them as well.  You don’t leave any money for fun then you will end up cheating on your budget or financial plan and then what would be the point of all of this. 

In conclusion, sometimes financial help or financial assistance can be something that you can give yourself.  Once you learn about your emotional spending habits you will be able to gain control of this and make the best choices for you and for your family.  Remember that even though you may be a single father (dad) or any single parent, you do not need to constantly be broke and have no control over your finances.

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