How To Avoid Holiday Overspending | NBC News Now

Channel: NBC News
Published: 12/06/2019

Description
NBC News’ Stephanie Ruhle has some helpful tips on how you can practice healthy spending during the holiday season. » Subscribe to NBC News: http://nbcnews.to/SubscribeToNBC » Watch more NBC video: http://bit.ly/MoreNBCNews NBC News Digital is a collection of innovative and powerful news brands...



Transcript
I'M stephanie ruhle, and this is better business. Talking about money, make you anxious, i get it. It happens to all of us, but do not worry we're here to break down all of it right now and help you out when you are stressed or busy, or you see a really great sale and you want to splurge. I know you're looking for an excuse to treat yourself. Don'T get me wrong. We all deserve a reward every now a ...
d again, but caving into that splurge mentality. Time and again can put you in hot financial waters. You do not want to be. Oh i'm a splurge spender, that's how i live. That is not a good wayto live. So here are some tips for staying in the clear first thing know where your money is going. If you don't get that straightened out first, you will not be able to make a meaningful change.

So first thing to do: look back at your old credit card statements and keep an eye on what you're, buying and figure out where exactly you're spending your hard-earned money. If you look back at last month's credit card statement - and you realize the majority of your money is going to online flash sales that you look out during your lunch hour or coffees or uber rides, i'm pretty sure when you took that job. You didn't say: i'm working soi can spend the lion's share of what i'm making on hot, pink leather pants that are 80 % off. I know that's not what you wanted to do so, the next time you go to buy yourself, something ask yourself: why do i really need this and ask yourself? Is this a really good deal? Are you shopping because you're upset you're, angry you're bored hole? Do you really need whatever it is you're about to buy the thing about money? It'S emotion. Do not go to the grocery store hungry. You should be aware of how you're feeling before you swipe that credit card, so next take a few minutes to just think about your values and whether ornot those splurges on line with those values. Ask yourself: do your splurges make better long-term decisions, or do they just feel good in the moment? Take those shopping, urges and start to say. Is this a band-aid for something else, because if it's a band-aid, it ain't a cure? Finally, put yourself in a place where you're set up for success if your weak spot is learning too much at the grocery store, they make a list before you go to the store and stick to it. Let'S say you're about to buy a really big ticket item before you actually buy it see if you can put a 48-hour hold on that purchase and think it over firstor try my personal favorite. The cash diet only spend the amount of money you have in your pocket, you're about to go out for a big night with your girlfriends put money in your pocket and when you're done for the night, when you've gotten on left it's time to go home, you Do not want to wake up the next day with a hangover and a big credit card bill and do not forget to set up small rewards for yourself. When you actually stick to the plan. Cuz, you earned it, you should have wins.

A diet doesn't mean that you're suffering it just means putting yourself in better financial shape. That is my better business thoughtfor the week for more money tips, go to nbcnews. com, slash, better [ music, ], hey nbc news viewers, thanks for checking out our youtube channel subscribe by clicking on that button down here and click on any of the videos over here to Watch the latest interviews show highlights and digital exclusives thanks for watching.


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