Overcoming Compulsive Spending
If you find yourself constantly overspending and can't seem to break the cycle, here are 36 tips for curbing your urge to spend:
1) Make a budget. This is the most effective way to figure out how much money you can afford in your spending
2) Don't ever buy anything unless it's necessary.
3) Don't do credit card transactions until the end of the month. This way, you're less likely to make impulse buys.
4) Pay yourself first by setting aside a percentage of your income for savings and investments.
5) Make a list of all your monthly expenses, which can help you realize how much you need to cut back on spending to reach your financial goals.
6) Don't buy anything until you've paid off all your credit cards and other debts.
7) Take time out for yourself, so you don't overspend on things that aren't necessary.
8) Make sure you have no financial obligations underneath your spending limit.
9) Don't keep money lying around. You'll always find a good reason to spend it, even if you're not flush with cash right now.
10) Stop watching TV shows that depict people spending all day online, shopping and eating at fancy restaurants. You'll be more likely to overspend if those are your thoughts patterns.
11) Don't stop at a gas station that has a mini convenience store. You'll find yourself spending money on impulse buys, even if you don't need what you're buying.
12) Stick to the grocery list when you go shopping and don't let yourself be tempted by items that aren't on your list.
13) Don't buy clothes without trying them on first, since it's likely they won't fit once you get home.
14) Don't buy clothes you've seen on models in magazines. They're not likely to look or fit the way they do on the billboard.
15) Don't buy items you see in ads and don't have a need for.
16) Don't let yourself get sucked into shopping channels without even knowing who's showing off what.
17) Don't buy any new clothes if you can help it. Wear last year's items instead.
18) Remember the Freshman 15 from when you were in college? That's the excuse students use to spend their parents' money on non-essentials. Avoid even the spent of this bad habit by not allowing yourself to spend any extra money for two weeks after receiving your income.
19) Don't ask for discounts on items you're planning to buy or already bought.
20) Don't spend money on anything that could have gone towards bills instead if you had to decide between rent and groceries.
21) Shop online only if necessary, since sales there often do not go on at a regular time, so you can't plan on it. Don't let yourself be tempted into buying something from an unsolicited e-mail or sales flyer.
22) Don't let your state of mind be affected by sales and "Buy One Get One Free" offers.
23) Don't buy things without doing thorough research about what you're getting and why you need it.
24) Don't set yourself up for failure by overspending in your first few months into a new job, relationship, housing situation or university program.
25) Don't be afraid to ask people for help if you're struggling financially.
26) Don't let yourself be seduced by financial media on the internet.
27) Don't buy things that you have no need for unless you have cash to spare.
28) Don't make purchases out of boredom or anger.
29) Don't buy things during a time of stress if it'll only end up keeping you in this negative state of mind.
30) Allow yourself to enjoy the benefits for one week and then don't give in to the temptation to reassess your situation and start over again.
31) Avoid the temptation of buying things when you're stressed. It'll only make your situation worse.
32) Don't short yourself on money for the sake of convenience or socializing with friends.
33) Realize you can't buy happiness and use money only as a means to secure your future, health and wellbeing goals.
34) Never let yourself stop saving for something even if you have enough money to spend on it now.
35) Make it a point not to put things on a credit card if you don't have the money in your checking account.
36) If you're having a hard time controlling your dollars, save more by adding some of your income to your retirement and tax-deferred accounts.
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What Really Causes Your Addiction To Spending?
by Diana Principe ©2011 http://personalfinanceshare.blogspot.com/2011/08/what-really-causes-your-addiction-to.
Conclusion: If the number of people who think they have a problem with compulsive spending is large enough, some form of legislation will be enacted to make it illegal to go into debt, to buy on credit and to spend or borrow money that you cannot afford.