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The Money Edit is for women who are passionate about personal finance and financial independence.

This is a place to change your mind about spending, saving and living your best life.

5 fast ways to stop spending money

5 fast ways to stop spending money

The world is all hyped up. Temptations and distractions and marketing messaging is everywhere. Thankfully, we have choices. For example, chasing beautiful sunsets is free!

Here are my top 5 ways to reduce the urge to want/buy things:

1. Take 30 minutes and go through your instagram and email: unfollow / unsubscribe from retailers and shops on social media. This will help you avoid being over run by marketing and clicking away all your dolla billz. Free yourself and avoid the temptation to 'swipe up' on your insta feed all together.

2. Evaluate what you're spending money on by tracking your cashflow for 1 month. Brainstorm a list of alternatives - save in your phone or wallet to have at your finger tips.

For example: When you track your spending, maybe you'll learn that you buy lunch 3 x a week. For the next month, create a new habit by packing your lunch every day. I often bring one tetrapack of Pacific Organic tomato soup and a stack of rice cakes which costs about $10 and lasts at least 3 days. I have a strategy to save the extra $30+ a week. It's the little costs that all add up.

3. Delay purchases for as long as possible. What do you have that’s good enough? How long can you use that before buying something else? I’d bet longer than you think! This applies to clothes, household items and even a well stocked pantry :)

4. Recognize your habits and reset (to avoid your triggers).

For example, if you always walk by Shoppers on your way home and you're in the habit of "just popping in to pick up X" change your route.

Notice what you buy a lot of - coffee, makeup, jeans, a shirt at Joe Fresh every time you go to Superstore - swear off the habit for the next week and see what a difference it makes to your budget (one more lip gloss can't hurt right? Wrong.)

Coffee lovers, don't fear. You have so many options: drink the free coffee at work, make coffee at home, make coffee at work. More on breaking habits later....

5. Get a buddy who's on your wavelength. Keep each other accountable.

My close friend at work was trying to lose weight, and I was trying to save money. Every day at lunch we went for a walk without our wallets. We took a break from our desks, got some fresh air and didn't eat or spend money. Our friendship deepened and we both had someone to hold us accountable. Win - win!

What do you do to avoid temptation? How do you manage your weekly, monthly cashflow? I'd love to hear more tips! Leave them in the comments below.

The Financially Empowered Woman

The Financially Empowered Woman

What is cash flow?

What is cash flow?