Little experiment absolutely changed how I live and spend. These are the tips that help me save more each month:

1. Beware of Impact Bias. This is a behavioral science term, but it’s simple. We imagine things we buy will have a great impact on our lives, when in fact they won’t. My new strategy is to eye those items that call my name a little more suspiciously. (Please, you will not affect my life as awesomely as you’re trying to make me think you will). The truth is, there’s a slim chance it will enhance your life (except if it passes the test of #2).

2. Ask yourself two questions: 1) Do I really, absolutely need this? Like, I can’t get by without it and still be a fashionable, respectable human? 2) Does it make my heart and soul sing so loudly people can hear it the next town over? Basically, that means you’d enjoy it so much, your life is just not as fulfilled without it (yes, there are items of clothing that can bring that much joy, as we all know). In fact, I’ve come to see anything—outside of necessities—that doesn’t fill that bill as a waste of money. Put another way, every dollar you spend should have a fantastic ROI (return on investment).

3. Stop winging it. The greatest life lesson I’ve learned is that strategy is king. When you have a strategy—that is, you make a plan and implement it—you’re driving the car with directions and a GPS. A recent study by Wells Fargo showed that regardless of income, those with a concrete plan saved three times more toward their goal than those who didn’t. This is key even when it comes to clothes (or tech gadgets, or whatever your pleasure) because it means less money wasted and increasing net worth. Institute a spending budget. Make it an absolute. If you want financial abundance, you can no longer just wing it and spend on whatever cool thing enters your path. You either won’t get where you want to be or it will take much, much longer.

4. Know that you’re always spending more than you think you are. (To combat this, see #5)

5. Get on track. As in, track your spending. It’s easier than it sounds, and it works. People who are good at saving are “trackers.” It’s almost like a game, where you want to beat the budget while not denying yourself what’s genuinely important to you. I keep a notebook in my kitchen where I track just discretionary spending (that is, not the necessary monthly bills). I list the weekly budget amount at the top and record my spending weekly. If I spend more one week on dinners out or a new coat, I lower the spending budget for next week. If I spend less one week, I raise the spending budget for the next. I start anew each month to keep it simple.

6. Use a cash-only system for non-necessities. This made a huge difference for me. Cash provides an automatic reality check, it keeps you in the present—you spend what you have and that’s it.  With credit cards, we tend to spend more. Not only can credit cards make us feel like we have unlimited funds, but we’re spending “future” money, so at that moment, we don’t feel as connected to the loss. We can get caught in what psychologists call “present bias”—choosing pleasure now at the expense of pain later. Cash equals better decisions.

7. Don’t buy on sale. The strategy of only buying what’s on sale is bad. It can backfire and actually make you spend more (hence, the old adage, “penny wise and pound foolish” ). When you buy something because it’s on sale, and not because it makes your heart sing, you’re just adding to your junk pile. Remember: It’s not a great deal if it’s lowering your net worth.

8. Make what I call a “Mighty Few” list. This has worked well for me, and can actually be fun. Over the course of a year, I would buy 10-12 items that—mixed and matched—could cover any social event and be timeless. The idea was higher quality, less stuff. I gave myself two rules: (1) You have to love it, love it, love it (times 3) and feel good in it, and (2) it has to be high-quality. Cost doesn’t matter as much as long as it’s not outrageous. This made me get super-picky about anything I bought and spending far less. Not to mention another benefit: Less clutter. Too much stuff is not good for you—emotionally or physically.

Bottom line: Whether it’s fashion or electronics or anything else, have a plan. Don’t wing it. Decide what matters most to you, and spend strategically in line with those goals. This way, you’ll have more of what you want in your life, and less of what you don’t, which not only strengthens your finances but also your well-being.