How To Stick To Your Money Diet

Practical tips and tricks on how to make good on your new spending habits

- Andy Webb

RISING COSTS MEAN many of us are having to cut back on our spending. Going without here or there, or shifting down a brand or two is going to be relatively painless.

But, like any food diet, it's easy to relapse. Maybe you need a little a pick-me-up, or you're just missing something you used to have.

When this happens, the best of intentions go out the window and you end up impulse buying or spend more than you normally would on non-essentials and luxuries.

All that work and sacrifice goes down the drain. So how do you avoid messing up all your good work? I've got a few tricks to help.

Plan for some treats

The less you have of something, the more you're likely to crave it, and then give in and splash out. And often these treats can be costly. But choosing some alternative rewards that cost less can still give you the same spending buzz. So it could be a piece of cake rather than a coat, or an off-peak cinema trip rather than a big meal out.

And if you know when you're going to be able to spend this cash, you've something to look forward to and a reminder not to impulse spend in the meantime.

Compare your priorities