It’s not enough to just write down what you spend — if you’re the kind of person who spends to alter your mood. If that’s the case, you need to write down how you’re feeling about the money you spend, right when you spend it.

You should also write down how you’re feeling when you save money. The idea is to get your emotions in balance when it comes to spending and saving. Your wallet shouldn’t be ruled by your emotions — that’s just a fast way to bankruptcy, especially when times are tough.

So, write down how much you’re spending and saving — and how you’re feeling when you take both of those actions. Then, work to see if you can’t do a better job of controling the SPEND button in your head.

Are you an extreme saver? Let’s help everyone figure out how to save more and spend less. Please contribute your best extreme savings tip here and we’ll share it on air. Or, call us at 404-872-0750 1p to 4p EST Monday or Tuesday and tell us live on the Clark Howard Show

July 21, 2008