How to Stop Overspending

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Overspending is a mistake that most households make.  How can you stop overspending?  Here are some tips that will help keep your bank account in check.

In order to stop your overspending, you’ll need to figure out why you are overspending. Believe it or not, people don’t overspend because they want to.  There is a reason behind every single penny you spend. I have a thing for magazines and books, for example. I purchase tons of books and magazines that have done nothing more than take up room in my closet. I would say 75% of them have never been read. See my point?

Many people, especially women, shop to make themselves feel better. If you are depressed or down in the dumps, shopping compulsively can give you that little boost you seek.  Another reason for overspending is when people tend to shop when they are bored and have nothing else to do.

So now that you know what is causing your overspending, what can you do to stop overspending? The first thing you need to do, as with any addiction or problem, is to admit you have a problem. Before you can attempt to fix the problem, you need to be aware that you have a problem. The second thing you want to do is to keep yourself occupied. If you are just sitting around being bored, you will no doubt have an urge to go out and spend money when you really don’t need anything. The third step is to find something else to do besides shop that will cost you little or no money.  Begin a hobby like crocheting or take up a sport like running.  Another step that has helped me is to have my husband shop for me. My husband goes into a store with certain things on his mind and he is in and out of the store within 10 minutes.  He spends no time wandering around.

Now if you need to shop, shop wisely. Look for sales or clearance items. Visit local thrift shops.  When you do shop, try price comparison shopping.  Be sure to have a shopping list with you when you go into the store.  Buy what is on your list and nothing else. Clean out your closets. You may find stuff in there with tags still on them that you have never worn.

If these ideas do not work, then you may need to consider checking out a group called Debtors Anonymous. It is a support group that is run mainly like AA or NA. You may also want to seek counseling with someone who specializes in addiction to get to the root of your overspending.

 

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