Cash The Checks

Personal Finance Blog With Advice On Making Money And Saving Money

Sep 20 2013 Spending by Edwin C No comments

avoid-overspending

Have you ever noticed that you can go a few days without spending a dime, then all of a sudden you go on a crazy spending spree? There are two main reasons why this happens. The first is practical – you probably overspent right after you got your paycheck. The second is psychological – you’re sad, tired or just plain bored.

But there are other occasions we spend too much. If you can spot the times you tend to overspend you can learn to avoid those situations altogether. Here are 4 situations where people tend to overspend.

When You Get Home After Work

Retailers also know that we are weaker at certain times. A prime spot for weakness is at 8 o’clock at night. By 8 PM people have come home from a long day at work and have eaten dinner. Around this time you check your email, your Facebook and yes you may do some online shopping. If you have had a particularly bad day at work then you are in an emotional state that makes you vulnerable to overspending. Retailers know this and will schedule a sale to begin at this time. They’ll send you an email at this hour advertising a sale or showing you their new items.

If you have had a long day at work and feel the need to blow off some steam, do not go online shopping seeking to reward yourself. Instead, reward yourself in other ways. You can take a bath, play a video game, eat a tasty snack or just take a nap.¬†While online shopping may make you feel better temporarily, you won’t feel so good when you take a peek at credit card bill the next month.

After An Unexpected Windfall

When you receive some¬†unexpected good fortune (such as a bonus or a tax refund) you feel as if it’s extra money. Extra things can be discarded, so you feel like that money can be wasted. But this couldn’t be any further from the truth. If you get a bonus from work, that’s not extra. You really did deserve that money for all the hard work you’ve done. When you get a tax refund, that is your own money you overpaid to the government. If you find a $20 bill on the ground, consider it your lucky day. But there are better things to do with that money than to quickly go and spend it.

Instead of getting rid of this money by buying some new clothes you don’t need or going to an expensive restaurant, put the money to good use. Pay down an existing debt such as your credit card. You shouldn’t be spending money foolishly when you still owe money. If you have no debt then ask yourself if you have enough in your emergency savings account. If you don’t, then you know where that money needs to go.

When You’re Dating

When you’re in the market for a new partner things can get pretty pricey. You tend to overspend to make yourself look better by getting your hair done professionally or buying more expensive clothing. Then you overspend on your dates by trying to impress your partner – restaurants, amusement park visits and pricey gifts.

There are low cost ways to have a good time with your date. For example, a picnic, a homemade dinner or you could play a game at the park. And as far as impressing your partner with lavish gifts, that’s only going to make you seem desperate and needy.

When You’re Trying To Lose Weight

The weight loss industry is a multi billion dollar industry. There are countless ways you can spend hundreds of dollars while trying to lose weight. You could buy books on dieting, workout DVD’s, costly exercise equipment, workout clothes and a $300 yearly gym membership. Before you know it you’ve given your wallet quite the workout.

But you don’t need to spend a dime to lose weight. The bottom line is that if you want to lose weight, you need to eat healthy and exercise. You don’t need anything else. So eat your veggies, cut out the junk food and go out for a run or bike ride every day. That’s all there is to it.

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