The PayPal Freedom Account
Whenever I want something a little above and beyond a usual expense, I allow myself only to buy it if I can pay for it with my PayPal account. The catch is, I don’t allow myself to transfer money from my bank account to PayPal. The only way money gets in, is if I sell something on eBay.
This does a couple of things:
- Keeps Material Items Low – I don’t have to worry about piling up tons of stuff, since I have to get rid of one thing to buy something else.
- Makes me Wait & Work - There is usually a waiting period, when I have to sell excess stuff to make room for something else. This gives me a few days to rethink if I really need something. Plus, I’m a lazy guy and it’s a lot of work selling items on eBay. Knowing that it takes a little effort before I buy something, I only end up with stuff I really want.
- Less Regret - Even though I can, I haven’t linked my PayPal account to my Mint account. I like that I can spend money on whatever I want and feel no remorse at the end of the month.
If you’re like me and hate to spend money, try opening a PayPal Freedom Account (Your PayPal account comes with a free debit card). Allow yourself only to spend money, when you sell something.
In the comments, let me know if you have any other methods for spending without regret.
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Photo by: Ivan Walsh