It’s a typical day in the neighbourhood. Everything is going fine until you pass by a window with a giant sale tag. Or you pass by your favourite store and convince yourself you need something. Next thing you know, you’re lugging home several bags’ worth of items you can’t exactly squeeze into your budget. How do you prevent this typical scenario from happening in the future?

It’s tempting to grab new things for a little retail therapy session, but there are some crucial warnings to keep in mind.

Extra Money Helps The Future You

Think of all the things you could do with more money in your pocket. A little extra spending money can be used toward a trip, put into a rainy day fund, or even towards schooling. Plus, think of emergency scenarios like car expenses and medical care. You’ll feel much better knowing you have some spare change saved for when you really need it.

Things Don’t Make You Happy

In the long run, when you grab that new item, you won’t be happy for very long. You know you shouldn’t have spent the money, so that sinking feeling in your stomach accompanies you home from the store. And it’ll accompany you at home when you unload your bags.

Not only that but there are only so many trips to the mall you can take before filling your home with senseless items. Keep your mind and wallet happy by walking away from stores when you don’t need anything.

Those tips sound well and good, but how do you keep from actually splurging in stores? A few things to keep in mind are:

• Sit down with your money; speak to a professional at the bank or go through your statements yourself to see where your money is going and how you can trim spending.
• Go on a cash diet; once you have your budget all worked out, withdraw a suitable amount of money and use that until your next paycheque. Even if you need to make changes to your lifestyle, you’re doing future you a favour.
• Make a list of your inventory; seeing toiletries or small items on sale usually draws us in, but bringing home the sixth deodorant or tenth pair of socks isn’t doing you any good. Take stock of what you have at home and whether you really need to buy any more of it. You might surprise yourself with how much you currently own.
• Think purchases through; don’t grab something impulsively! This method works wonders for online spenders, as you can return to your cart at a later date. Better yet, if you’re shopping for non-essentials, close the tab without saving your cart. When you return, you may have forgotten what it is you even wanted to buy, thereby proving how unnecessary it was.

Saving money is hard enough when you’re a student. Think your actions over and work to understand your money and how to better manage it. You’ll thank yourself later.