Does tying your money to a project prevent one from impulsive spending?

[King Belieal]

A friend of mine complained that he used to spend impulsively till he started tying his spare funds to particular projects. He said the pursuits of those projects has helped put his spending excesses in check. Does having financial projects to do per time make one more prudent?

 

[Suba]

That's right, if someone has committed their money to a project, it can prevent impulsive spending. This directly reduces their cash supply, thus reducing their purchasing power.

 

[eLdavis]

While this might work for some persons, it doesn't work for everyone. I have seen cases where people still spend recklessly sometimes even when they have a project to handle. I think the best is to simply develop self discipline.

 

[Trush Jodie]

Tying your money to projects is a very smart move to curtail your expenses. If those projects are vital to you, you would always focus on it.

 

[Min George]

You would definitely spend less if your funds is tied to a project that you actually believe so much in.

 

[Augusta]

Yes, tying your money to a specific project can be an effective strategy to curb impulsive spending. By allocating funds to a defined purpose, you create a sense of commitment and purpose

 

[Kross]

When a big part of your earnings is into a particular project, you would be able to plan your finances more stringently.

 

[Min George]

I have used this measure of allocating funds to a particular project to make big financial achievements easily.

 

[Augusta]

compulsive shopping often stem from the pleasurable feelings that people get when they make purchases, planned or unplanned.

 

[Stardom22]

I think tying money in business won't make anyone to avoid impulse buying. That is because money being tied into business projects at times is being released and still be spent on impulse spending.

 

[Augusta]

Allocating money to a specific project can help curb impulsive spending by creating a sense of purpose and accountability for your finances

 

[freelancermaria]

Linking your money to a financial project helps prevent unnecessary spending, as it strengthens the idea that your funds should go toward meeting your financial goals.

 

[Springtime]

Yes, that helps. If your money is tying to a project, you may not have enough spare money to buy unnecessary things.