About Donell Edwards: Donell Edwards is President of CWR Media and is also founder and publisher of The College World Reporter (CWR) magazine and CWR World News & Information Service. He is also a professional speaker, freelance writer, and entrepreneur.
Know Your Money
Friday – March 21, 2014
Spending Control: Getting Ready for the Weekend
By Donell Edwards
As another weekend approaches prepare now to take another step in your financial transformation. Many people live for the weekend. They can’t wait to celebrate the end of another week in whatever way they choose, which usually involves some type of recreation or entertainment, shopping, eating out, or some other endeavor that involves spending. They feel that they have earned the right to celebrate their victory over a challenging work week, that they are entitled or that they owe it to themselves to engage in this ritual on the weekend. That kind of thinking is detrimental and leads to making bad choices that result in wasteful spending.
Instead, why not pause to consider all of the spending challenges and temptations that you will be exposed to over the weekend, and be ready for them. Consider how you have made spending choices in the past, especially on the weekend, and learn from any unwise choices you have made, and do not make them again. Work on becoming mentally tough in regard to exercising strict discipline on spending over the weekend. If you want to make some real progress, declare a moratorium on spending and make this a no-spending weekend.
Nobody said this was going to be easy, and making changes will require great effort and great sacrifice, but in the end you will liberate yourself from much of the frustration, stress, and anxiety you experience if you are one who cannot control your spending and who is burdened down with debt.
I recently discovered a great website which resulted in the addition of a new page to our blog, our Favorites Page. The website is Changing Your Life Through Better Money Management at http://www.managingmymoney.com/ . I highly recommend this website as a source of valuable information to add to your knowledge about personal money management and as another vital resource and support tool in working to improve personal money management skills.
I have provided a link at the end of this blog to a list found on this website to help readers through the weekend and at all times to improve spending habits. Be sure to check out this list to help you prepare for a spending wise weekend.
Also, instead of engaging in a lot of costly activities, why not choose something from the list below, or use the list for ideas of your own:
- Instead of going out to eat or to party, invite several friends over and have each of them to bring a dish.
- Go walking, it’s a healthy exercise.
- Go biking if you have a bike, also healthy exercise.
- Spend time with family, learn what is going on in their lives.
- Do chores that have been put off for too long, you will feel a great sense of accomplishment.
- Read a book, or several books; great exercise for the mind.
- If you enjoy music or movies, have your own oldies party and listen to your favorite new and old music (that you already own), or have a movie marathon.
These are just a few ideas of fun things to do that cost very little, or nothing.
Have a tremendous weekend, and I hope to connect with you again on Monday.
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If you would like to share with our readers how “bad” spending habits have affected you, anonymously or otherwise, for our upcoming special, “Confessions Of Spendaholics,” please send your experience to email@example.com.
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