Saving

Curb impulse spending with this tip from Grammy Award-winner Kandi Burruss

Charles Sykes/Bravo

When Kandi Burruss signed her first record deal at 16, she had a clear plan for her earnings.

"I just really wanted to save," the Grammy award-winning songwriter, television personality, and restaurateur told Money last year.

For Burruss, who stars in "The Real Housewives of Atlanta" and rose to fame as a member of the girl group Xscape and as a cowriter on songs like TLC's "No Scrubs," aligning her spending habits with her savings goals helped her learn to budget early in her career.

"As soon as we had our first hit record and we started doing shows, all my other group members went and bought [Mercedes] Benzes and different things," she said. "But I wanted to see a certain amount of money in my bank account. I remember I was like, "I will not spend a dollar until I can see $100,000 in my account.""

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One move that helps you spend less

With the rise of online shopping, it's easier than ever to purchase items impulsively or on autopilot. Some 45% of Americans report regret as a result of impulse spending online, and 21% of 28-to-37-year-olds say they made a spontaneous online purchase in the previous week, according to a poll by CreditCards.com.

Burruss shared a simple savings tip that helps her stick to a budget and avoid impulse purchases: "Put a small amount of money in one bank" for spending, she told Money. "But keep all the money that you pay your bills out of [and money that you save] in a totally different bank."

I wanted to see a certain amount of money in my bank account. I remember I was like, 'I will not spend a dollar until I can see $100,000 in my account.'
Kandi Burruss
Grammy award-winning songwriter and television personality

Here's why tricks like this work: Anything that requires you to spend extra time thinking about a purchase will help you make a more informed decision, Dr. Mary Gresham, an Atlanta-based psychologist, told Grow earlier this month. In the time it takes to transfer funds from one bank to the other, you might decide it's better not to spend that money.

"How often are you [going] to go down to the bank if you don't necessarily have to?" says Burress. "You'll put that purchase off that you didn't need."

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