How To Manage Your Spending Effectively in Tennessee

How To Manage Your Spending Effectively in Tennessee

Saving up money is hard enough but changing your spending habits can be even more challenging. Most people do not like to hear they need to not spend money on something they want, especially people who place a higher value on what forms of entertainment they spend their money on. Many people argue they earned it and deserve a break, but sometimes this habit can lead to a loss of control over your finances. If you ever find yourself coming closer to bankruptcy, feel free to talk to a Tennessee bankruptcy attorney for guidance.


One way you can take more control over your spending is by becoming aware of the difference between your spending needs and wants. Tennessee spending needs are life necessities that you cannot go without like food and water. House bills and gas also count as spending needs because if you do not put your money there, you could face real-world consequences.

Spending wants are desires for entertainment and nonessential things like movie tickets, collectibles, subscription services, the latest phone, and junk food. These are not things you need to live, but rather, things that make living more enjoyable. Some of these things are used by some people as forms of distraction from life stressors while others are bought to impress loved ones. The real personal challenge you have to face is asking yourself why you really want to buy something that involves spending wants.

What many people find when they ask themselves this is a realization that they may not need to have this thing right away. This often leads to smarter Tennessee financial decisions.


Changing your Tennessee spending habits can be one of the most difficult tasks to take on. Habits are like second nature and require a lot of effort to mold into different habits. One of the most practical ways you can give yourself a wake-up call before making that next nonessential purchase is by performing a simple calculation.

Add up the number of hours you would need to work to buy that item and write that number of hours down. For some people, this number might be two hours and for others, seven hours. This method tends to make people second-guess whether buying that item is worth it and can lead some people to delay the purchase for another time.

If you still receive catalogs in the mail or through your email, find a way to unsubscribe. All this does is serve as a trigger for old spending habits. Whenever you are really tempted to buy something, give it three days. By that time, your mind will be clearer and you will be able to make the most rational decision.


Developing healthy spending habits is not easy for anyone. Consider seeking answers from our lawyers in Chattanooga, Tennessee and North Georgia if your financial situation is dire and you have questions about bankruptcy. Call Tom Bible Law at (423) 690-7712 to talk to a Bankruptcy lawyer in Tennessee for a free consultation today. Our Tennessee bankruptcy lawyers are located in Chattanooga and Tullahoma. 

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