Dear Livi,
I feel like I have a serious problem when it comes to spending money. Ever since I got my job I’ve been buying all kinds of unnecessary clothes and shoes that I’ve always wanted but never had the money to pay for. I often find myself online shopping instead of doing homework and I end up spending all the money I made from my last paycheck. How can I limit myself to resist the urge to spend money that I should be saving for college?
Sincerely,
Shopping addicted
Dear Shopping addicted,
It’s natural to feel like you have a huge influx of money at the start of a new job and want to treat yourself to nice things. Now that you’re working for your money you deserve to splurge every once in a while, but don’t make a habit out of it. Make the habit of taking your paycheck and depositing between 60-70 percent into a savings account and using the rest to pay for little expenses such as going out with friends. Save your remaining money for one big thing you really want, such as a pair of nice shoes, and think about that item when you’re working and spending money. When you have finally earned enough to buy it you’ll feel accomplished and it’ll be something you’ve earned. Plus, by waiting a long time to make a purchase you’ll be able to think about whether it’s really something you want and if it’s worth the price.
Love,
Livi
Have a problem? E-mail Livi at:
