The author of a book on parenting, Dr. Beth Grosshans has spent many years in clinical psychological practice in New Jersey. Dr. Beth Grosshans is a member of the American Psychological Association (APA), which offers advice to the public on managing their financial affairs. From buying groceries to making mortgage payments, financial decisions can lead to stress. According to the APA, these choices require willpower. Research has shown that the stress of making these decisions can reduce your ability to exert your willpower over extra or unnecessary purchases. The APA offers several suggestions for making the most of willpower. First, spread out your financial decisions - too many back-to-back transactions can overwhelm you. Visiting malls or shopping centers can also be stressful, so stay away from scenarios that tempt you to spend. You can also try leaving your plastic at home and carrying only enough cash for immediate needs. Another way to bring order to your finances is to have money withdrawn automatically for savings or investments. This can be particularly effective if you have to accumulate a certain balance in order to make a withdrawal. Finally, keep daily records of your spending and get the support of your family and friends. With these measures in place, you can better rein in your spending.
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AuthorExperienced Psychologist Beth Grosshans Lectures on Child Development Archives
January 2020
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