Recently, I’ve been feeling like I spend a little too much on clothes and accessories each month. After hearing a podcast with Caroline from Un-Fancy, I wondered if her approach might work for me.
But when I thought about it, I realised that only buying clothes at four times a year and then restricting myself to wearing only a set number of items each season just would not work for me. I love choosing different things to wear each day from a wide range in my wardrobe. Plus I love the likes of Zara as many of their clothes (especially trousers and skirts) seem to suit me.
I do want to keep more of an eye on my spending though. I have been using an app called Tink that you can associate with banks accounts and credit cards (expanding beyond Sweden soon, it seems). That gives me a good idea of how much I am spending each month.
How to curb your spending
My method to really make myself accountable is about as basic as you can get, but it works. I like to call it the power of the percentages. It’s just a good old-fashioned Excel spreadsheet – really simple but the percentages are what makes the difference.
The formulae are quite simple:
- To see the change each month, use this formula for cell C2 =(B2-B1)/B1 and this one for cell C3 =(B3-B2)/B2, and so on for each of the cells in column C.
- To see the change from the first month, use this formula for cell D2 =(B2-B1)/B1 and this one for cell D3 =(B3-B1)/B1, and so on for each of the cells in column D.
My aim is to try and get at least a small year-to-date decrease in column D each month, but I know that some months will be heavier on the spending front than others. But every time that I am out shopping, I just think of my Excel spreadsheet and the percentages and it makes me rethink whether I really need to buy what I am eyeing up.
And then, when something unexpectedly pops up in the sale, like this jacket (reduced to Skr 299 from nearly Skr 800), I can snap it up.
What tricks do you use to curb your spending? Do you use spreadsheets and apps too? Or do you have another world-beating method?