How To Financially Detox Your Life After A Big Spending Spree

There are different times in our life where everything is financially draining. For some, this is Christmas time. In other cases, this time period can happen at different points throughout the year. Regardless, of these high-finance times, there is always going to be a lull right after. It is at this point you can take a breather.

Give Up The Luxurious Lifestyle

After these hard-hitting financial drains, it can be easy to want to go back to something familiar. Something as simple as going out to eat with friends or family multiple times a month. Others may tend to spend more on high-end products at the store to feel good. Regardless of what your “luxury” is, know you need to forego it for a bit. Yes, whatever extra money you would tend to spend on the non-essentials needs to be stopped for a bit to recoup some of the money you lost from your financial drain. You do not have to give it up permanently, just for about a month or two.

Working More Hours or Overtime

Some of us who have an hourly job may have the option to pick up more hours to work. Others may even have the option to put in overtime hours to make even more money. Having the ability to do this can certainly speed up the detoxification you felt through whatever financial stuff you went through. Unfortunately, for those of us who are salary, there is not much we can do to make more money in the meantime, as we cannot pick up more hours for more money. You may consider using your talents to work elsewhere part time on the weekend if you so desire to make some more money.

Reigning In The Budget

Having a budget for financial stresses like this is crucial. If you do not have a budget, then you will probably be in a bigger set of hurt than the rest of us. However, assuming you have budget, you can move through the numbers fairly quick to assess where you need to reign the numbers in. For example, when Jordan and I go through this we tend to cut down groceries, date nights, and personal expenses. We tend to not spend any money out of these categories at all and use it elsewhere.

Ultimately, being able to detox and recover from these life events hinges on your ability to understand and manage your money. If you are “winging it” in how these are taken care of, then you will most definitely have a tougher time with this.

Hope this is helpful, best of luck!