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3 Steps to Buying More Stuff You Want Right Now

3 Steps to Buying More Stuff You Want Right Now

Most people think that the secret to solving their problems is more money—they think that if they increase their income then they’ll be able to buy more stuff and life will get easier. I’ve seen surveys where people estimate that if their income increased 10% it would make a huge difference to their standard of living, but the problem is that when they reach that amount, they still feel they need another 10% on top of that as well.

It’s a never-ending cycle of income (and spending) increase, so let’s break the cycle right now by learning 3 steps to buying more stuff you want right now.

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Step #1 – Awareness

Most of us have no idea where our money is actually going, and we have to ask ourselves whether we’re spending it on things that really matter to us. The little things we buy have an amazing way of adding up and we have to look at their long term cost to fully understand what we’re losing. For example, if you spend just $4 each weekday on snacks and coffee, you will have spent $1000 in a year. Are those snacks really giving you $1000 of value each year? Or would you rather be spending that on a vacation, your family, or a hobby you love?

Action Step #1: Take a little notebook or piece of paper with you for the next week and write down everything you spend money on. Then take these figures and use them to estimate your yearly spending. You’ll be amazed what this easy exercise will reveal.

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Step #2 – Prioritize

Now that you know where your money’s going, you need to ask yourself if you’re really happy with your spending habits. Maybe you really want your snack and coffee habit but you could do without some magazines. Maybe there are some food items you can do without, or you could cut back on your electric bill somehow. Everyone’s spending is their own personal choice and it’s completely up to you where you spend your money. That being said, I suggest that you prioritize your spending based on your own personal needs and wants—that way you’ve made a conscious choice to spend your money on the things that are most important to you.

Action Step #2: Make a list of all your current spending and put it in your own order of importance. Are there things that you’d like to buy that you feel you can’t purchase now? Add them to your list and work out how important they actually are to you in comparison with everything else.

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Step #3 – Management

Now that you’ve determined what’s really important to you it’s time to embed some habits to help you get them. The reason that it’s easy to spend $4 a day on snacks and not save for a vacation right now is simply because of our established routines. Change your habits and you’ll bring more of the things you want into your life.

Once you decide what you want to buy then you can put a strategy in place to get there. Let’s say that you want your $1000 vacation but never have that much in the bank. Well, now we set up a strategy where you put just $4 a day towards your trip. I like to withdraw my spending money in cash at the start of the week, so I know exactly how much I have to spend on food, fun, and my long-term savings goals (which goes into a clearly labeled jar or savings account). If I run out of fun money that week then I have to wait until Monday rolls around before I can spend more.

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You’ll be surprised how easy this discipline becomes with a little practice, and it’s easy to stay motivated when you have your vacation fund growing right before your eyes. If you find that you keep dipping into your savings, then put barriers in the way, such as moving them to an account that’s hard to access or giving them to a trusted friend for safe keeping.

Action Step #3: Create a money-management strategy that works for you. Make it simple and easy to follow, and use safeguards to stay honest. When temptation strikes remember the true cost of that $4 snack and decide if it’s really worth it.

When you implement the Awareness – Prioritize – Management steps in your life you’ll find yourself buying things that you could “never afford” before, and enjoying your money a whole lot more.

More by this author

Craig Dewe

Craig founded Lifestyle Outlaws, with the belief that everyone should have the time, money and health to do what they want with life.

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Last Updated on January 21, 2020

How to Develop a Millionaire Mindset in 6 Simple Steps

How to Develop a Millionaire Mindset in 6 Simple Steps

We all like to dream about being financially wealthy. For most people though, it remains a dream and nothing more. Why is that?

It’s because most people don’t set their mind to achieving that goal. They might not be happy in their current situation but they’re comfortable – and comfort is one of the biggest enemies of growth.

How do you go about developing that millionaire mindset? By following these simple steps:

1. Focus On What You Want – And Take It!

So many people are too timid to admit they want something and go for it. When there is something that you want to accomplish don’t think “I could never actually do that”, think “I could do that and I WILL do that”.

Millionaires play to win, not to avoid defeat.

This doesn’t mean to have to become a selfish jerk. What it means is becoming more assertive and honest with yourself. You don’t have to grab off other people. There is a big pot of unclaimed gold in the middle of the table — why shouldn’t you be the one to claim it? You deserve it!

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2. Become Goal-Orientated

It’s almost impossible to achieve anything if you don’t set firm goals. Only lottery winners become millionaires overnight. By setting yourself attainable goals, you will get there eventually. Don’t try to get rich quickly — get rich slowly.

Let’s take the idea of making your first million dollars and expand on what kind of goals you might set to get there. Let’s also say you’re starting at a break-even position – you’re making enough to get by with a few luxuries, but nothing more.

Your goal for the first year can be having $10,000 in the bank within a year. It won’t be easy but it is doable. Next, you need to figure out the steps you need to take to achieve that goal.

Always look at ways to make growth before cutbacks. With that in mind, you might want to see if you can negotiate a pay rise with your boss, or if there’s another job out there that will pay better. You might be comfortable in your old job but remember, comfort stunts growth.

You may also have other skills outside of your workplace that you can monetize to boost your bank balance. Maybe you can design websites for people, at a fee of course, or make alterations to clothes.

If this is still not enough to make the money you need to save $10,000 in a year, then it’s time to look at cutbacks. Do you have a bunch of old junk that someone else might love? Sell it! Do you really need to spend $10 on your lunch everyday when you could make your own for a fraction of the cost?

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If you are to become a millionaire, you need to start accumulating money.

Here’re some tips to help you: How to Become Goal Oriented and Achieve More in Life

3. Don’t Spend Your Money – Invest It

The reason you need to accumulate money is for step three. Millionaires tend to be frugal people, and that’s because they know the true value of money is in investing. Being your own boss goes hand-in-hand with becoming a millionaire. You’ll want to quit your regular job at some point.

Stop working for your money and make your money work for you.

Rather than buying yourself a new iPad, that $500 could be used to invest in the stock market. Find the right shares (more on that later), and that money could easily double within a year.

There’s not just the stock market — there’s also property, and your own education.

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4. Never Stop Learning

The best thing you can invest in is yourself.

Once most people leave the education system, they think their learning days are over. Well theirs might be, but yours shouldn’t be. Successful people continually learn and adapt.

Billionaire Warren Buffet estimates that he read at least 100 books on investing before he turned twenty. Most people never read another book after they’ve left school. Who would you rather be?

Learn everything you can about how economics works, how the stocks markets work, how they trend.

Learn new skills. If you have an interest in it, learn everything you can about it. You’d be surprised at how often, seemingly useless skills, can become extremely useful in the right situation.

Start developing the habit of learning continuously: How to Create a Habit of Continuous Learning for a Better You

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5. Think Big

While I advise to start off with small goals, you absolutely should have a big goal in mind. If you have a business idea, then that is your ultimate goal – to start that business and make a success of it. If you want to invest your way to millions of dollars and do little work other than research, then that is your big goal.

There is no shame in not achieving a big goal. If you run a business and aim to make $1 million profit in a year and “only” make $200,000, then you’re still significantly ahead of most people.

Aim for the stars, if you fail you’ll still be over the moon.

6. Enjoy the Attention

To be successful, you have to be willing to promote yourself and enjoy the attention to a certain extent. Now the attention doesn’t need to be on yourself, it could be on your brand, but attention definitely attracts money.

Never be embarrassed to get your name out there. That means finding a spotlight and being brave enough to step right up underneath it.

If you run a business, try contacting the local papers. You’d be surprised at how amenable they often are to running a story about you and your business, and it’s all free publicity.

Above all, remember: You control your own destiny. Push hard enough for anything and you’ll get it.

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Featured photo credit: Austin Distel via unsplash.com

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