From Being a Spendthrift to a Smarter Spender: An Easy Strategy That Transformed My Habits

One day at work two years ago, an alert popped up on my phone: my salary had been deposited. It was a fair amount for a someone still at university, so I did my usual payday ritual: I launched every retail application on my phone. From Amazon to Zara, the list was endless. Within the space of an hour, I had spent £90 on clothes, decorative items and a totally useless weighted blanket that I never used.

A short while after, I went online again and bought a blow dryer. I already had one, but reasoned another couldn't hurt. Then I added LED strip lights and two shoes that weren’t even my size. This wasn’t new behaviour. In fact, I’d been infamous for it since I started earning.

Whenever I felt anxious, tired or uninterested, I would doomscroll until it always ended in an impulsive shopping spree. My excuse was constantly: “It's only £5.” But £5 became £10, then £20, and so on.

I was never completely certain why I did this. Maybe it was because my upbringing in a low-income family, where we’d go months without purchasing new clothes or anything to brighten up the home. So any moment I had some disposable income, there was always a subconscious desire for novel and thrilling things. Or maybe, and almost certainly, I was just financially irresponsible and succumbed easily to the lure of demands.

A Revolutionary Approach

Eventually, I decided to experiment with a novel idea. Prior to acquiring any item, I’d put it in my basket, wait 24 hours, then make a choice on whether to finalize the purchase. The greatest advantage of this technique was that it provided me space to reflect – something I’d never done before. For the first occasion since adulthood, I started asking myself: “Do I truly require this? Is it within my budget?” More often than not, the response was negative.

If I accessed my shopping apps and found items sitting in my basket, I’d remove them and begin anew. Using this system, I stopped buying things that I intuitively knew I would never utilize. I once considered buy three board games, but after a waiting period before visiting the store, I understood I never actually play tabletop games.

I also wanted to buying a single-use camera for my first holiday to Croatia. After pausing I recalled I had a phone, similar to everybody else, that has a perfectly good lens, and thus did not need to buy a separate camera.

The Lasting Impact

It additionally signifies I am more discerning about the things I do purchase, and I can at last look at my bank statements without experiencing guilt or embarrassment.

Of course, there have been times I’ve relapsed into previous patterns – it’s only natural. The difference now is that I can identify the signs early, particularly when I’m rushing into a purchase. I’ve realised ennui is a strong catalyst. It’s perhaps the biggest motivator of my impulsive spending.

Modern culture exploits this idleness and our desire for instant gratification. That’s why, in hindsight, forcing myself to halt before buying has felt strangely freeing. Gaining command over my urges and remind myself that I don’t need to spend my hard-earned money on non-essential goods feels as revolutionary as it is simple.

Daniel Oconnor
Daniel Oconnor

Financial analyst with over a decade of experience in Dutch banking sectors, specializing in market trends and regulatory changes.