How to Face Overspending and Win


Overspending is a habit for most of us. We’re always assuming our next check is going to be better than the previous one. And we’re only interested in how far we can reach a limit before leaving a credit card alone. In most cases, we’ll leave a credit card alone if we’re edging towards an over-the-limit fee.

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.

This post was written by

jason – who has written posts on Budget Clowns.
Father of three and married to a lovely women. Always looking for ways to save money, and invest it properly for my children's future.

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