Did you know that women control or influence 85% of global consumer spending? That’s a pretty powerful statistic! But here’s the thing: spending isn’t just about what you buy—it’s also about how it fits into your overall financial plan. The best part? Spending is one area of your finances that you can control, often more than you might think.
So, if you want to become more intentional with your money and take full control over your financial future, here are five practical tips to help you become a more intentional spender.
1. Create a Rule to Slow Down Impulse Spending
We’ve all experienced walking through a store or scrolling through an online shop, and something catches our eye. Before you know it, you’re swiping your card without giving it much thought. But what if you could slow down that impulse?
One simple rule that can make a huge difference is the 24-hour rule. If you’re thinking about buying something that isn’t already part of your budget or planned list of purchases, take a step back and give yourself a full 24 hours to think it over. This pause gives you time to evaluate whether it aligns with your long-term goals and values.
2. Unsubscribe from Marketing Emails
Marketing emails are designed to tempt you into spending. Whether it’s the latest sale, a limited-time offer, or a special promotion. All of these notifications can trigger impulse purchases, even when you don’t need anything.
Take back control and make it a habit to unsubscribe from marketing emails that nudge you to buy things you don’t really need. The fewer notifications you have cluttering your inbox or your lock screen, the less likely you’ll be to make spur-of-the-moment purchases. Instead of being bombarded with “deals,” you can focus on buying what you actually want, when you’re truly ready for it.
3. Love It or Leave It!
Sometimes, purchases aren’t just about functionality; they’re about the emotions or experiences they create. So ask yourself: Does this purchase create a lasting memory or meaningful experience? Does it support a cause I care about?
And when it comes to tangible items, think about this: Will this thing bring me joy every time I use it? If the answer is yes, then maybe it’s worth the splurge. But if it’s just something that will sit in the closet or collect dust, it might be better to walk away.
4. Buy Quality Over Quantity
In a world of fast fashion, one-click shopping, and speedy deliveries, it’s easy to accumulate a lot of stuff. But how much of that stuff is worth keeping in the long term?
Instead of constantly buying cheap items that wear out or go out of style quickly, consider investing in higher-quality pieces. These might cost a little more upfront, but they can save you money in the long run because they’ll last longer, require fewer replacements, and may even hold their value.
5. Say “No” to Some Things So You Can Say “Yes” to Others
When I got my first job and had some spending money saved up, my dad often advised me to say “no” to some things so I could say “yes” to others when it came to my purchases. At the time, I didn’t fully appreciate it, but now I see the wisdom in his advice.
One of the most effective ways to manage your finances is by mastering the art of saying “no.” It’s not about missing out, but rather about prioritizing your spending. Saying “no” to unnecessary expenses creates room for the things that truly align with your financial goals.
Intentional spending allows us to set clear financial boundaries. The more you say “no” to what doesn’t serve your financial plan, the easier it becomes to secure your future wealth and focus on what matters most.
The result? Better financial clarity, less stress, and a more focused approach to your money.
Looking to create a financial plan?
A financial planner can help you develop a strategy to stay on track with your goals, whether it’s saving for a big purchase, building wealth, or living more intentionally. Contact us to schedule a meeting with one of our advisors to learn about the benefits of creating a personalized financial plan tailored to your needs.
