Here are some tips for controlling in/out:
- For clothes and toys: Buy one, get rid of one.
- Cost versus space: We usually take more time with expensive purchases. But remember, the more space something takes up, the more it costs you. Spend more time deciding to buy bigger items.
- Time delay: Impose a time delay on every expenditure to curtail spontaneous purchases. Find it, love it—wait 48 hours to purchase it.
- Experience fund: Every time you stop yourself from making a spontaneous purchase, put the money that you would have spent in a special account. Then, pick an experience the whole household can look forward to—a trip to Paris, the beach, Disneyland, etc. If your child asks for a toy at the store, you can do the same thing. Say, "This toy costs $9.99. Let's put that in the Disneyland fund instead." At the end of 12 months, you might have enough money to have an experience that the whole household will remember forever.