Overcoming Spendthrift Habits 3 - Creative Solutions

Image by The Ignatian Perspective

One good thing about getting over challenges is that you don't have to take the same approach every single time. There are creative ways to go about solving the problem, and for things like unlearning bad habits, creativity is one asset that helps you ensure success in retraining yourself.

We're on the series of Overcoming Spendthrift Habits. This is one major problem that affects a good number of yuppies today. There are thousands, even millions of young urban professionals who cannot seem to wait for the next payday simply because they've already run the last payday's money to the ground. Thus, we're here to help you create solutions for yourself.

In the previous article, we discussed the cornerstone solutions to this problem. In this article, we aim to give you offbeat and quirky solutions to the bad habit of overspending.

Uproot yourself from the metro and hole up in a rural area. Easier said than done, especially if your work is based in the metro. If you are not keen on doing a career veer, try opting for a reassignment to a rural area, or explore the possibilities of telecommuting with your company. You may also think about learning how to work from home or work online.

Live in a high-maintenance, high-cost area. This is not for the faint of heart. But I discovered something, having experienced living in Boracay for an extended period: I learned to regulate my spending because I'm keenly aware of how costly it is to live here. Being acutely aware of the value of your peso makes you more careful in spending it.

Create a rewards system for yourself. Make a list of cheap rewards you'd appreciate that does not involve spending anything, or has a price ceiling of around fifty pesos. Then, set a weekly financial goal or milestone. Say, "Save Php 100 by not eating three servings of street food." Or "Do not go into Kamiseta for a whole month." If you achieve something, whether it's related to your financial benchmarks, your work, or even personal development (Did not yell at any taxi driver this week!), dip into your Rewards list and give yourself a pat on the back for a job well done. The happier you are, the less likely you are to overspend.

I came up with this list because I've become so happy with the changes in the way that I spent my money, living in Boracay. I believe it was the combination of the high cost of living and the fact that my emotional needs are met by the gorgeous surroundings. It also helps that my object-of-shopaholism, mobile phones, are scarce here. Since I'm fond of the snazzy models and the only models available in the area of Boracay where I live are the basic Nokia models, I've already saved myself a fortune because I haven't been itching to buy a new phone.

Getting creative in learning to discipline yourself is crucial to sustaining your efforts to Overcome Spendthrift Habits. If learning is tough when the lessons are boring, unlearning is tough if the methods lack creativity. Make sure your unlearning plan covers the basics, add a few creative methods, and you're all set for financial health and wellness!