A financial expert has revealed her top tip to help you avoid impulse purchases and save money in the long run.
The crucial advice was shared in a new video on TikTok by Paige Pritchard, who is the founder of the online community How to overcome overspendingwhere he helps others reach their “full financial potential.”
Pritchard, who lives in Texas, has been candid about how she once squandered a $60,000-a-year salary while living at her parents’ home after college.
But since then, he has managed to control his spending, paying off $98,000 in student loans and building a six-figure investment portfolio by the time he was 29.
Since then, she has been sharing financial wisdom with her followers on social media, advising them on how they can spend less, and this time was no different.
Financial expert Paige Pritchard has taken control of her own spending, paying off $98,000 in student loans and building a six-figure investment portfolio by the time she was 29.
Pritchard began the clip by explaining a concept that is commonly used with young children when they want to get something and start throwing tantrums when they are told no.
She said parents typically take a photo of their child with the item they’re asking for and then promise to take another photo another time.
However, it turns out this method isn’t just for kids, as Pritchard recommends adults try it out too.
“I know you’re an adult, I know you’re a grown woman, but the truth is, and I’m also talking to myself, we’re not that different from our little kids,” Pritchard explained.
“We still don’t want to be told no, we still get angry when there’s something we want and we tell ourselves we can’t have it,” she continued.
She then instructed viewers to start taking pictures of the things they want to buy, just like parents do with their toddlers, and add them to their own personal list.
Pritchard does this herself, adding screenshots or photos she’s taken of things she’d like to buy to a special album on her phone.
“I would say that half of the things I add to my list I never buy,” the expert admitted.
She recently instructed her followers to start taking photos of the things they want to buy, similar to how parents do with their toddlers, and add them to their own personal list.
Pritchard herself does this, adding screenshots or photos she’s taken of things she’d like to buy to a special album on her phone.
And there is a reason why this method is also “so effective.”
“When you tell yourself flat out ‘no,’ when you see something you want to buy… you have to rely on a lot of willpower, because actually the way your brain interprets that is restriction and deprivation, which obviously your brain hates,” Pritchard said.
She explained that when you simply take a photograph of an object, you are simply telling your brain “maybe” instead of “no,” which is something your brain “can live with.”
Of course, the list can also help you save money, since you may realize that you don’t need every single thing you put on the list.
In the comments section of her video, Pritchard received praise for the method, with some people even admitting they had tried it themselves.
“I literally do that and never remember what I want enough to go look at the pictures,” one person wrote.
Another agreed: “I make it for myself and my friends when we go shopping. I’m like, ‘Let’s take a picture with it,’ and if I ever need gift ideas, I have a whole photo album.”
“It has to sit in my cart for at least a week before I’m allowed to purchase it. I end up deleting most things,” another person wrote.
So, next time you feel the urge to buy something during your trip to Target or Sephora, take a picture – your wallet will thank you later.
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