Ways to avoid overspending

[Setho]

It is true that one of the things that usually prevents people from saving money is that they are actually spending too much money . Most times the problem might not even be arriving from you not making enough money but instead you I spending it on things that are not really necessarily important .

1. Make a list . Before you receive your payslip at the end of every month it is very important that you should make a list of your recurrent expenditure as well as every capital project that you plan to execute at the end of that month . You should then try to strike out things that you already have or things that can be able to wait or have another alternative which will help you to save more money .

2. Avoid unnecessary things . There are always some people who end up buying a lot of fruits or a lot of vegetables because they think that they are having a better deal and at the end of the day they end up throwing it away without using it . When it comes to personal finance every single money should be accounted for and it is very important .

 

[Ayuba Ernest]

When it comes to overspending, there are a lot of working and good methods to tackle it. I'm a fan of overspending. I mean, I do spend a lot of money buying junks and in relevant things. I also learnt overspending brings setbacks to future plans, so I get to monitor the way I spend so as not to Rhine my budget. Here are some helpful tips to help tackle the above problem.

1. Make a good budget plan: before thinking of saving, make budget of things you need that are important and make sure you follow your budget so as not to ruin your plans. If possible, reserve money for emergency needs that may arise.

2. Reduce how much you spend: you should learn to spend less and wisely, you shouldn't rely on eating outside a restaurant, do well to make your meals as it helps in reducing how you spend. You also tend to make good food yourself instead of relying on fast food products.

3. Have a saving goal: you should have a good saving goal you should follow. If for instance you set up a plan to save $1 a day, try as much as possible to follow this plan so as not to bring in weaknesses and sluggishness.

 

[Shaf]

Sometimes, one really has to come across a life changing event that shows you the importance of saving money before you learn to save. This happened to me and I've found both points on your list to be very important.

Anytime I receive money without a list, I find it really hard to save. Having a list of your expenses, especially if you know how much you will be receiving and creating a budget around that will help prevent unnecessary spending.

Also, while it's important to have a miscellaneous part under expenses, you still have to be careful to only spend the extra money on what is really necessary. Most of us can do without a new phone or clothes or jewelry, but it's hard to fight off the temptation to buy them. This is something that can only be learnt over time.

 

[TOZZIBLINKZ]

Money is a very important and respectable tool and so it shouldn't be spent lavishly and inconsiderably but rather it must be spent wisely and sensibly . Majority of individuals who own and control high prestigious jobs with attractive salaries think that because they have a job that pays them high amount of salary so they are permitted to lavish and inconsiderably spend money without control . Having an attitude and mindset like this is called overspending of money which is absolutely wrong . An individual who overspends money as a result of having high income rewards as a result of his work and job should understand that no one is going to take to stay in his or her job forever and one thing or the other to lead him or her to go broke and poverty-stricken for example getting sacked or fired from your job .

And so in order to avoid being frustrated , devastated , and remorseful if any of the unforeseen occurrence like getting sacked or fired from a job could happen . It is advise an individual save his money rather than overspending it on things that are worthless and unproductive . So as to be able to stand on ground even if he or she loses his or her present prestigious and high salary paying job .

 

[Jasz]

We all know that the holidays can be a stressful time of year. And if you're anything like me, you probably tend to overcompensate for your stress with overspending.

If you want to make a change this year, but don't know where to start, these tips will help you figure out how to save money and stick to your budget:

1. Know your spending triggers

Sometimes it's hard to identify the things that might be driving you to spend more than you've planned. If you suspect that you have any spending triggers, keep track of your spending and make note of whether or not anything seems consistent with what's going on in your life.

2. Come up with a plan for each trigger

Once you've identified some of your triggers, think about what kind of action might help you overcome them. If a friend is always asking for favors, for instance, talk about it with them! Explain that doing something for them requires time (and maybe money) and ask if they can pay or do something in return.

3. Set goals

Whether they're short-term or long-term goals, setting them will give you an idea of how much money you'll need and when so that they don't interfere withyyour budget limit.

 

[Oluwasegun purpose]

The only way in which you can stop the habit of over spending is when you learn how to save.....most people find it very difficult to save.some time you will see people wearing expensive cloth you too will want to also wear that expensive cloth why not save that money in which you will used to buy that cloth and look for a cheap one...because you see your friend using iPhone you too will want to also use that iPhone why not save that money in which you want to used to buy iPhone and look for android phone to use. . all those money in which you are spending lavishly if you are saving them it used to help in many ways...why do we save money? We save money for two reasons we save money for emergency and we save money for investment...there may be time in which we need money in an algent time but you will not have money at that particular time but if you are saving it will not be difficult for you to get the money...and for our future used we save for the purpose of our children for them not to suffer in future...I will advice you to be saving instead of you spending lavishly.....

 

[Augusta]

Some overspending comes from greed and until people comes to terms with this overspending wouldn't be overcome. When one need to avoid overspending the following should be adopted.

Practice cashless policy: This is one way to avoid getting to overspend your money. Try to leave the house without cash. You know you can't spend what you don't have. So you save your money and avoid spending on what isn't necessary w

Secondly, To avoid overspending you would need to avoid impulsive buying. This is when you go on shopping spree because you have the money on you. of course when you have the money you would overspend and most times it will he on frivolities.

Another way to overcome this is by buying things in bulk and storing them safety to avoid easy or quick spoilage. When you do this, you would be able to avoid spending more on buying the same thing.

Overspending is a thing of the mind and if you can erase that from your way of life then you would be able to conquer it already in the mind.When once you know that overspending will harm your finance will be safe guard to avoid it depleting at a fast rate.

 

[Abigael]

Overspending is one very bad habits that kills your efforts of trying to save some money. It is something that I have experienced before and I don't like it at all. It makes you end up being broke most of the time and you never enjoy being financially stable. It is something that you should try your best to avoid or deal with urgently.

One great way to do so is to develop self discipline. A disciplined person rarely spends money unnecessarily and they are better at not only making budgets but also sticking to them. Self discipline can be developed through actions. It is through practicing it that you develop it. So you should make sure that you say no to your urges and desires as they come up.

Another important step to stopping the habit of overspending is trying as much as possible to live within your limits. Beware of how much you earn and what you can afford with it. That is how you are most likely to only spend on what you can afford. Then you can save the rest of the money for emergencies or something expensive you wish to have.

Then of course you need to make budgets for everything you need. Then only go for shopping with the amount needed to buy what you need.