Being Money-Savvy: 3 Easy Steps to Zap the Urge to Splurge

By Robyn Moreno for Las Fabulosas

Yesi Morillo-Gual, founder of ProudToBeLatina.com, a professional network that helps Latinas banish self-doubt and break self-imposed barriers, knows how to help women control their spending. Here, the financial services executive shares profound tips on halting dehabilitating spending habits once and for all.Sometimes all it takes is having a bad day to trigger a major shopping spree that we later regret. True, purchased items can often be returned. But it’s in our best interest to learn how to protect ourselves and our bottom line at vulnerable moments.

Stop and Think

Are you triste, emotional or stressed? The most common pitfall women make when it comes to unnecessary spending (or splurging) is thinking that somehow buying “this thing will make you feel better,” says Morillo-Gual. Check in with yourself before you hit the mall. Or ask yourself, even if it’s on the check-out line, ‘Do I need this, do I love this, can I afford this?’ If any of those answers is no, put it down.

Keep El Control

We also tend to overspend when we see others with “flashy” pricey or designer items. We think we need to keep up, says Morillo-Gual. To avoid losing control (which is what overspending is) check in with a good friend who will tell you, “Hey cute shoes, but don’t have a pair at home just like those?” A good amiga can help keep you accountable.

Overcome 

Lastly, when you feel yourself on the verge of going on a spending spree, or feel like you just have to buy something, take a deep breath. Instead, try to find another outlet for that energy, like exercising or taking a walk. That impulse is usually just energy that needs to be expended. Take a stroll and clear your head, and nine times out of 10, you will be able to overcome the urge to splurge.

Robyn Moreno  is a proud Latina of Mexican-American heritage, and has co-written, and co-edited two Latino-centric books: Suave: The Latin Male, a fashion book about Latino style icons, and Border-Line Personalities: A New Generation of Latinas Dish on Sex, Sass, and Cultural Shifting, an honest and irreverent anthology about life as a modern Latina.