The “Money Trap”
Friday, February 1st, 2008This is not going to be an overly extended post, but it is just a thought on how to control impulse spending and also how to spend less while attracting abundance. I recently bought these Moneybands from this great website, linked previously. They are very nice and keep both my money and my cards secure, so secure it is quite a challenge to get them out. This is the main reason I bought them. If you trap your money in a place where it is hard to get to, then you will be more reluctant to spend it. It even encloses all your credit and debit cards in the dead center of this pile of money so that there is no way that you could just put it on your card real quick. Now, when I carry it around, I am rather hesitant to make a purchase that would make my life so inconvenient as to take the rubber band off, sift through the bills for the right one, and then clumsily hand the bills to the cashier, while digging in my pocket for change. If I know I am going to be spending money for sure, I take the amount out of the trap and use that in another pocket so that if I overspend at all, I’ll need to go into the trap again.
Don’t get me wrong, spending money is a form of giving, but when you are spending on things you do not need and will probably not use, it helps to have a way to stop this impulse, or as Fight Club would call it, the Ikea nesting instinct. I had bought two Jimi wallets and a couple leather ones before I settled on these extremely inexpensive rubber bands. And if you want to go super low-tech, I recommend a celery rubber band. You know, the one that holds the celery together in the supermarket. It works almost as well as these longer-lasting rubber bands. But if you buy enough celery, you are probably better off just sticking with those.
And I have to say that this has helped me monitor my spending significantly. But if I really want something, and I mean really want it, I will go through the painstaking process of removing my money from this trap and fumbling around for the exact change. Sure, using a debit or credit card is so much easier, and that is the problem. I hope someday we go back to gold, so that way, in order to purchase something of great value, we would need a pickup truck. Anyway, just a thought I was having while not buying a tempting item. I hope you got something out of this. If not, I’ll have another article soon.