Dr Oz: Stop Burning Through Your Paycheck
All month long, Dr Oz dedicated the final 30 seconds of his show to a segment he called “Mindful Mondays.” On this Monday, Dr Oz wanted to shine a light on endless, mindless spending. He teamed up with the founder of Money Zen, Manisha Thakor who had some tips to stop burning through your paycheck.
Manisha explained that most of us don’t think twice about opening our wallets for small purchases or using our credit cards to buy an item here and there. But then you get to the end of the month and suddenly you’re left wondering where all your money went. Fortunately, Manisha had three tips to help viewers stop mindless spending.
Dr Oz: Hourly Wage Test
Manisha Thakor from MoneyZen shared three tips to help you stop burning through your paycheck and start spending smart. (68751915@N05 / Flickr)
First, use the hourly wage test. The average American earns $30 an hour. The next time you’re shopping and you see something worth $30, ask yourself, “is this worth an hour of my time?” Would a $300 item be worth 10 hours of your time?
Dr Oz: Shop With A Basket + Gift Cards For Online Shopping Only
Secondly, try skipping the cart and using a basket instead. Think if you can’t carry it, you don’t need it. Third, keep all your gift cards in a basket right by your computer. Use them exclusively for online shopping. When the balance on those gift cards are up, so is your online shopping budget.
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