You know, it’s okay to admit you’re addicted to spending money. Many people will not admit this, but it’s a part of life. If you’re not financially sound, you’re addicted to reaching that limit to make yourself feel like you’ve accomplished something while shopping.

On the other hand, some of us reach our spending limit because we’re trying to impress our friends. It’s not worth it. Now, take a stand and raise your right hand. Repeat the following sentences then take a seat , so we can get to the basics of your overspending and walk away from the spending addiction pleasantly.

Three Tips to Stop Overspending

Did you know you could trick yourself into spending less money? All you have to do is make a plan or a way to keep your credit cards, extra cash and bank accounts inaccessible somehow. You may find yourself in a bind the first 30 days doing it, but it will you help you see how much money you’re really spending.

1. Give your credit cards and debit cards to a trusted friend.

Yes, give your credit cards to someone who does not live with you. Ask them to hide your cards in their home or in their safety deposit box until you finish your overspenders’ detox. You may think this is nonsense, but you cannot spend money you do not have. You cannot reach an over-the-limit fee if you do not have a credit card on hand. Seems pretty fair for your financial future, huh? Well, give up the credit cards and let’s move to the next step.

2. Track each penny you spend for the first 30 days.

OK, you can buy two things here. Buy a small memo notebook and a pen to keep track of every penny you spend for 30 days. You may get tired of writing everything down and make less purchases. Actually, writing everything down helps you figure out where your money goes. You can notice a few trends like spending on food, clothing, gas, or maintenance.

In most cases, you will learn how to minimize certain expenses when you see the final costs of it each month. Little habits in your day are actually costing you more money than you think. Tracking your expenses can help you identify extra money you can use to build an emergency fund, pay for your kids’ college education and buy a new car.

3. Spend cash only.

Well, we keep bringing this one up because it’s the biggie. Spending cash limits your options of accessing credit cards or extra cash in your bank account. You will not have the ability to think about buying something if you only have enough cash to get back home. You’re limiting yourself to what’s available instead of creating opportunities to overspend on frivolous items.

Everyone faces habits a different way. Overspending can be controlled; you can take the initiative to control yourself and move forward in your life. Until now, you may thought overspending was an OK way of life. The truth is, you have to face your problems head-on, work it out and keep improving. With a little help from your friends and family, you will be on the verge of becoming a budgeting genius.

The first thing is to choose how to lay it out. You can either make a monthly budget or a bi-weekly budget. The best way to determine this is according to your pay scale. If you are paid monthly or on the 15th and 30th, a monthly budget is a good tool since you have the same income every month. If you are paid bi-weekly, you should consider budgeting according to your pay date. List all the pay dates in the first line for as far out as you wish.

After you list the pay dates, add several lines for income. The first line should be the amount of your regular income. This is usually going to be the same for every paycheck. The next couple of lines you can use for miscellaneous income, such as income from investments, gifts, part time work, or any other source. You would also add your spouse’s income in this section as well. The last line should total this income up so you know how much is coming in on each line of your budget.

After this, start a new section and list your fixed expenses. Fixed expenses include mortgage, car payment, cable bill, phone bill, loan payments, or any other expense that is fixed each month. Again, these will be the same each time. If you are using the bi-weekly model, divide the bills according to the time of month they are due to be paid. For example if mortgage is due the first and the car payment on the 20th, put them underneath the corresponding pay period.

After you list fixed expenses, list your variable expenses. These include food, clothing, and entertainment. It is a good idea to set a target number you feel comfortable spending and place it in that slot. If at the end of each pay period you saved a few dollars in one category, apply that amount to savings. You can adjust these expenses from period to period. For example, if you have a weekend trip coming up, you would want to budget more for entertainment. You also want to list your credit cards here, but do your best to factor those bills in ahead of time by knowing how much you spend on them.

Your last section should be savings. This is where you should list a fixed amount you want to put away with each month or paycheck. Consider general savings as well as savings for potential issues in the future, such as car repairs.

After you have laid out your budget template, add formulas to each section. Excel has easy to use instructions to add the formulas. This takes all of the math work out of tracking your budget. It also means that if you adjust your budget, you do not need to worry about recalculating after you make the changes. When you have a new expense, it is easy to add in as well.

Lastly, double check everything on your budget. Make sure all the dates are accurate so that you will not be caught off guard in the future. Check your budget regularly and don’t be afraid to make adjustments.

Some individuals argue that shopping more than one store will eat up your grocery savings because you’ll spend more for gas. However, if there are a few grocery stores in your immediate area, you can save a lot of money by shopping the sales at each store. Most grocery stores put out a weekly ad, which you’ll find in the store or in the newspaper. You can also find most grocery store ads online and browse them at your convenience.

Even more important than shopping sales and using coupons is to get organized. Plan meals ahead of time, which will be more cost effective if you incorporate the sales into your meal planning. When meat is on sale, buy a lot of it and freeze it. This goes for anything that you can store or freeze. The more you buy on sale, the more money you will save and the less trips you will have to make to the grocery store.

Planning ahead will also save you a lot of time in the kitchen because you can chop vegetables and cook meats ahead of time. If you know you are going to have several dishes in one week that call for onions, you can chop them just one time. Produce is expensive, so anything you can buy on sale and freeze for later use will take a big bite out of your grocery bill.

Invest in a storage system that will preserve your food. Americans throw away millions of dollars each year in spoiled food. Even when you are careful, it is difficult not to waste food as much of the food we buy in the grocery store only lasts a few days in the refrigerator. By investing in a system that will help you to preserve your food, you will waste far less and end up saving a lot more money.

Another way you can reduce your grocery spending is to make your own sauces. Bottled sauces are expensive, but if you make your own, you can make a large pot at once and then freeze it to be used for several meals. For example, by making one large pot of spaghetti sauce, you can freeze portions of it to use for several meals in the same month. You can have pizza, spaghetti, and numerous other pasta and meat dishes that call for the same sauce, yet you will save time and money by not having to make it or buy it each time.

While using coupons can save you a lot of money, they can also cost you money if you are not careful. Most experts advise to only use a coupon for an item you would buy anyway, but sometimes, it can be tempting to use the coupon just because it sounds like such a good deal. However, much of the time, you can buy the store brand of the same item for less than you would pay for the name brand even with the coupon savings.

While not every store brand is as high quality as the name brand, many of them are, and you may want to experiment with different generic items so you will know which ones are acceptable and which ones you would prefer to buy name brand only. Many of the same manufacturers that produce the name brand items also produce the generic items and there is no difference in many of the foods, except for the packaging. Reading labels will also help you to discern the difference.

By getting and staying organized and planning your meals ahead of time, you can greatly reduce your grocery spending and still feed your family tasty and nutritious meals.

You need to personally decide what is the most important, enjoyable activities of the Christmas season. Once you have determined what those are, you will be able to prioritize your time and money to avoid overspending.

Next you need to develop a realistic budget. Categories can include gifts, food, entertaining, and decorating. Once you know your budget, you can then formulate a plan. Make a vow to only pay cash for expenses. By not using your credit cards, you avoid the dreaded January bills.

Gifts are usually the biggest expense. While it is great to go all out, who wants to be paying on toys the kids have lost interest in come January. Ask everyone to make a wish list and have them to prioritize the list by numbering from most to least wanted. Emphasize you will not be purchasing everything so they need to think carefully about what they really want.

Some families avoid toy overload by limiting the number of gifts to something to wear, something to read, something needed, and something to play with. Others use the religious aspect of the season and limit gifts to three as a symbol of the gifts brought by The Three Wisemen.

For individuals outside the immediate family, determine if you are gifting because you feel obligated or if it really has meaning for you. Find out what people would like as gifts. Older individuals may enjoy consumables such as food or gifts of your time. Find out what people collect or what is special to them.

One avenue for finding affordable gifts is to visit resale and consignment shops. Many people dispose of new or nearly new items that look brand new and still retain their retail tags which you can then purchase for a fraction of the cost.

If you enjoy entertaining, consider hosting a tree trimming party. Invite friends to help decorate and provide cookies and hot chocolate. Another idea is to host a progressive dinner with several families where each one is only responsible for one course of the meal. You may also consider hosting a dinner where everyone contributes a dish.

One thing you can do is to spend your time instead of money. Take hot chocolate in a thermos and drive around looking at holiday lights. Find local plays and events you can attend. If you prefer staying at home, pop popcorn and watch a classic holiday movie like “Rudolph the Red Nose Reindeer” or a more modern one such as “National Lampoon’s Christmas Vacation.” Consider reading a holiday themed book each night to your children.

If you enjoy baking cookies and making candy, but do not enjoy paying for all the ingredients consider hosting a cookie exchange. Each person only has to make one kind of cookie or candy, but when exchanged will have dozens of different cookies and candies to enjoy. Baked items also make great gifts.

Decorating can be done inexpensively. Look for items around your house that can be re-purposed for the season. A beautiful red scarf can be used as a tree skirt. Ornaments can be hand cut snowflakes. Homemade dough ornaments add a homey touch with breaking the bank. If you have children, use some of their small toys as safe and simple decorations.

Look around for ways you can serve others during the season. These activities can include visiting residents at a local nursing home or serving in a soup kitchen. It could also include visiting with your neighbors or hosting a modest dinner for friends who are unable to spend time with their families.

Debt does not have to be the norm for having an enjoyable Christmas season. A little forethought will go a long way in avoiding the headache of January bills.

If you are planning to travel during the holidays, consider which days you are traveling. If you need to fly, look for good deals. Be prepared to fly on off days or early mornings to save some moneys. Airlines usually release prices Tuesday night, so that is when they are at their cheapest. If you are flying on Thanksgiving Eve, expect to pay a lot more than if you left the day before. If you can swing it, don’t fly on high traffic days.

When it comes to decorating, be on the lookout for deals. Check Craigslist, EBay, and other websites for people who are selling old decorations. Go to yard sales or flea markets. Keep an eye out for when places have sales. Dollar stores have a lot of great decorations as well. Also, ask friends and family if they have decorations they don’t need. It is very easy to make your house like great for the holidays without having to spend a fortune on decorations. When it comes time to take them down, store them safely so that you can reuse them next year.

Gifts are where a lot of the money saving stress comes from. It is a good idea to start planning as far in advance as possible. That means putting a way a little bit each paycheck so that it doesn’t seem as overwhelming as the holidays approach. Keep your eye out for various sales even in the spring and summer. If you find something you know someone will love in March, but it and put it away. Get the Sunday paper and look over all the ads to see what things might be on sale. Scour the internet to try and find even better deals. If you spread out your shopping, you will find a reduced amount of stress and pressure than if you wait until Thanksgiving to do your holiday shopping.

You should also set a budget for each person you plan to give a gift. Set something reasonable so that you know exactly what you can spend around the holidays. Knowing how much you want to save for the holiday season means you can figure out how much you want to put away during each paycheck. You might also want to consider ways of obtaining extra income. That doesn’t mean you have to get a part time job. You can do product surveys or freelance writing. These are easy ways to generate some extra cash that you can save for the holidays.

As far as other things associated with the holidays, money saving options are everywhere. Instead of buying Christmas cards, consider sending postcards instead. They are easy to make, and cost about half the postage. Try to recycle your wrapping paper, or buy it at a dollar store. There is no need to spend a ton of money on something that people will just tear away. When it comes to dinner, compare prices and don’t be afraid to go to different grocery stores to get everything you need at the best price. If you find a great turkey deal in November, buy it and put it in your freezer.

The key to saving money for the holidays is planning and research. If you know what you can afford to spend, saving will be easy because you have a target amount. If you research the best deals in stores and online, you will maximize the amount you save. If may be a recession, but there are many great ways to save money around the holidays.