It can be argued that there is an art to spending less money. Truly, spending less is a skill that requires practice in discipline and commitment.

What are your financial goals? If you don’t have those yet, take the time to set some. Your financial goals will drive your financial decisions, essentially helping you to prioritize your wants vs. needs and to therefore spend less.

Before you make your next purchase (no matter how big or small, routine or random), ask yourself these questions:

1. Should I spend money on this?

2. Will this purchase add value to my life?

3. How much time did I give up to be able to afford this?

4. Is that time spent to be able to afford this worth it?

5. Does this purchase support the lifestyle I want to have?

6. Does this purchase bring me genuine joy?

7. Can I hold off on this purchase?

Below is a visual insight on the thought process I use before (or in the middle of) any purchase.

To pay off $22K in debt in 7 months, I adjusted my spending habits. I was spending more money than I brought in every month. I would literally get a paycheck and spend it down to the last penny days before I’d receive the next paycheck.

REMINDER: Debt freedom is in your net income!

Analyze and justify every expense. Weigh them against your financial goals and the lifestyle you can realistically upkeep.

Use a budgeting tool to help easily identify what you spend the most and least amount of money on; make adjustments to reflect your financial goals and lifestyle.

TIP: To spend less, keep your financial goals front of mind with every financial decision and create a budget that includes the things that bring you genuine joy.

Can you justify your last purchase? Let me know in the comments.