Here’s another tip that I’ve put into practice with the tenacity of a hungry raccoon.
Choose a value that’s comfortable to you to add to every purchase.
For us, it’s $5.00.
Now, go shopping, and save your receipts.
At the end of each week (if you feel okay with that frequency) add the number of receipts you’ve collected, multiply that by your value and then invest that value in whatever form of savings account or investment vehicle you use.
For us, it’s Betterment.
You spent money at stores 7 times this week, so…
7 x $5.00 = $35.00
So we would make a deposit of $35.00 to our Betterment account.
It’s a simple way to save more money and add pressure to your impulse purchases. Do I really want that Coke from the gas station knowing it’s going to cost me $7.50ish?
Be careful that your fervor for investing doesn’t have you buying more just as an excuse to invest. You can always just invest the money without the purchases.
Give it a try.