Save Money By Establishing Passive Spending Barriers

Save Money By Establishing Passive Spending Barriers

If you’re looking to save money — and who isn’t? — good money habits go a long way towards keeping cash in your account. Establish passive spending barriers to keep spending in check.

Adam Baker, over at the financial blog Get Rich Slowly, decided the best way to keep money in his pocket was to set up passive barriers that worked for him instead of against him which made it easy to keep with them until they became a habit. For those of you behind The Great Corporate Firewall, you can check out the contents of the video via the list below:

  1. The 30-day list for Wants – [1:20]
  2. Two items out for every on item in – [2:40]
  3. Experiences over possessions – [3:55]

I have a strong appreciation for the last two. I’m at the age now where the majority of my friends have purchased homes and have accumulated a bunch of stuff. I’m actively decluttering my home and office every day to par down the stuff I already have and I feel almost hypocritical piling more stuff on somebody else as a gift. Lately I’ve been much more likely to give something to a friend that they can experience — theatre tickets, a bottle of wine, taking their kids to the park so they can have dinner with adult conversation, etc — than I am to give them something they have to dust and put a roof over. You can read more about the idea of giving experiences here.

Have a tip or trick that you’d add to the list above? Let’s hear about it in the comments.

Three Passive Barriers I Use to Counter Consumerism [Get Rich Slowly]


  • Just don’t spend money.

    I use a Google budget list to see where my money goes. When you get to see where your money goes tends to sober some people up.

  • I’ve taken to drawing all but a few hundred from my day to day account and sticking the rest into a High Interest account that pays bonus interest if you make no withdrawals…
    I try to keep my spending below that threshold over the fortnight. Money is available to me immediately if I need extra, but the task of having to jump onto online banking and the penalty of losing the bonus Interest (even though it’s only 1% extra) has stopped me from impulse buying and has swung me from going out for dinner to eating in.

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