Have you experienced the thrill of a new purchase, the energy, the excitement, the feeling of being slightly naughty?

Sometimes that excitement can lead to overspending on things we don’t really need.

The Donegans are not anti-spending – we LOVE spending! We just make sure it’s conscious, aligns with our values, and brings us HUGE pleasure and joy. Here’s our ultimate guide to keeping your spending in check and staying safe from overspending. 🌟

Print or Write Out This List and Keep It Handy! 📝

1. Use the Rule of 192 and 840: Calculate the amount your weekly and monthly expenses would be if you invested the money instead. Multiply that weekly purchase by 840 or the monthly one by 192 and it shows you what you would have if you invested instead with a 10% return for 10 years! (YES a 10% return is possible and we show you how on Rebel Finance School) This helps you see the bigger picture and prioritize your spending.
2. Ask the Question: Do I Want This or Freedom?: Every purchase is a choice between immediate gratification and long-term financial freedom. Choose wisely! What would you prefer?
3. Ask: How Else Can I Get More Pleasure for Less?: Find alternative ways to enjoy life without breaking the bank. Sometimes, the best things in life are free or inexpensive. Who could you hang out with? Where could you go? how could you have 15 times more fun for half the money!?
4. Add to Amazon Basket, Leave for a Week: If you still want it after a week, then consider buying it. This helps curb impulse purchases. Set a reminder and go back to the basket a week later and see if the desire to buy is still as strong. Alan used this technique to put off buying a drone for 5 years!
5. Unsubscribe from Marketing Emails: Break the habit of temptation by reducing exposure to promotional content. Out of sight, out of mind. Side-effect: cleaner mail box and less junk!
6. Implement a No-Spend Challenge: Challenge yourself to avoid non-essential spending for a set period, a month, a week. It’s a great way to reset your spending habits. You have to break the habit if you are a spender and that takes time and energy. Use a challenge with friends or other people from the Rebel Finance School Facebook Group to do it!
7. Use Cash Instead of Cards: Withdraw a fixed amount of cash for your weekly expenses. When the cash is gone, it’s gone. This makes you more mindful of your spending. It is so easy to tap away on a credit card but we feel it far more physically when we have to part with actual cash!
8. Track Your Spending: Keep a detailed record of every purchase. Awareness is the first step to control. We have done this for over 10 years now and it keeps us safe. This is a habit for life!
9. Set Clear Financial Goals: Define what you’re saving for, whether it’s a vacation, a new gadget, or paying off debt. Having a goal makes it easier to say no to unnecessary purchases. The biggest goal of all? Financial Freedom! Don’t let money burn a hole in your pockets, give it a purpose and put it in a separate account out of site. Ultimate version invest it into a SIPP where you can’t get to it and it will be growing in the back ground buying your eventual freedom!
10. Batch Cooking and Preparing Food In: Plan your meals and cook in batches, the Donegans did this for a little over 5 years in Amazingstoke. My desire not to waste food was bigger than my desire to spend money. This not only saves money but also reduces food waste and keeps you healthy!
11. Limit Social Media Exposure: Reduce time spent on platforms that promote consumerism. Less scrolling means fewer temptations. Think Instagram, Facebook adverts or other platforms where you just stare at cool stuff you could spend your money on.
12. Shop with a List: Always shop with a list and stick to it. This helps avoid impulse buys and keeps you focused on what you actually need. My biggest point of weakness is going to the supermarket hungry and without a list, my eyes are FAR bigger than my stomach and it ends up costing me money and health by the end of the trip!
13. Create a Wishlist: Instead of buying items immediately, add them to a wishlist. Review it monthly to see if you still want them. Often, the desire fades over time.
14. Use the Envelope / Jar System: Allocate cash for different spending categories and keep them in separate envelopes. When the cash is gone, you can’t spend any more in that category. Katie and I did this for years having jars for fun, charity, education and more.
15. Avoid Shopping When Emotional: Recognize that shopping can be a way to cope with emotions. Find healthier ways to manage stress or boredom. There are so many ways to change your state other than spending. Think calling a friend, playing a game, going for a run, having a dance party in your home!
16. Borrow Instead of Buy: For items you only need occasionally, consider borrowing from friends or using rental services. Be a king for a day and rent rather than buy!
17. Buy an Index Fund: Buy Your Freedom First: Investing in an index fund is spending on your freedom. Take the money you would have spent on a take away or clothes and put it straight into your investment accounts buying an index fund and then celebrate like CRAZY because you just bought Freedom! put some blue face paint on, whip that kilt out of the cupboard and run around screaming “they can never take my FREEDOM!”

Conscious Spending 💖

Remember, it is all about spending on things that match your values and bring you immense joy.

Katie and I are not about deprivation – we’re about making smart, conscious choices that lead to a happier, more fulfilling life. So, next time you’re tempted to splurge, pull out this list and go through it. You’ll be amazed at how much more in control you feel!

Stay fabulous and financially free! 🌟💸

For more tips on living large for less, check out our YouTube video: How to Live Large for Less.

What do you think? Ready to take control of your spending while still enjoying the things you love? 😊

Let us know your thoughts, feelings and which of the ideas above was the most valuable for you in the comments below.

Peace and Pineapples

Alan and Katie