Take back control of your money with these 5 Tips to Avoid Overspending! Here’s how to stop overspending before it even starts…
Following are some Personal Finance Tips
from Lindsay at Creative Dough ~ enjoy!
These 5 Simple Tips to Avoid Overspending and Save Money are helpful no matter the time of year. But they seem particularly meaningful in January!
Spring Cleaning: it’s getting close to that time of year again where we pay penance for our Christmas weight gain, clutter contaminations and dare I say it? Overspending.
Going through boxes of unused household junk, leads me to the question: Where did all of this come from?
We could spend all day discussing the signs that we are already overspending: avoidance of bank statements and closets full of unopened purchases. However, instead, I’ll share with you 5 ideas I’ve discovered about stopping that pesky habit before it starts.
Tips to Avoid Overspending and Save Money
Related: How to Save Money Fast! {Save $2,200 This Month!}
#1: Spend Your Coins!
Use up your coins when you only spend what you can find in coins. Many local stores have places to cash in your extra household coins, and sometimes this can really add up. So, before you begin to drain the bank account, search for some “hidden treasure” under the couch cushions.
#2: Use Cash Stuffing Envelopes!
Many of us know we need to keep a budget, but this can often prove difficult for busy moms. This budget envelopes tip is to take your monthly allowance out of the bank and stick the cash into labeled envelopes titled car, clothes, emergency, etc. The nice thing about handling physical money is that it’s very clear that when it’s gone, it’s gone.
#3: Don’t Carry a Balance on your Credit Cards!
I can’t say this one enough. You may think you are saving money with their “cash back” offers, but having a card with “someone else’s money” tricks you into thinking you have more funds than you do. You may spend more and will then pay for it later.
#4: Swallow your Pride
It’s ok to use coupons and shop at consignment stores. Obviously there are many people in the world who shop there or they would go out of business. And, if you are really worried about your reputation, just remember, no one has to know!
#5: Create a Splurge Fund!
Finally, if you are the type with an addiction to a product (my addiction is boots), you may want to consider a splurge fund. I heard of a woman who buys designer purses from consignment stores and re-sells them on Ebay. She makes roughly $500 a month and it all goes to her guilty pleasure: clothes.
So, the next time you feel the urge to splurge, make sure you’ve planned ahead before you break out the dough. Happy Spending!
Lindsay is a fun, easy-going girl who doesn’t like to spend more than $20 at a time. This takes some creative thinking, which is where she came up with her blog name, “Creative Dough“. Her passion is helping people like her who are looking to save more than just a few extra dollars!
Be sure to check out even more tips here to Avoid Going Over Budget!
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So do you have any favorite Tips to Avoid Overspending and Save Money??
Leave a comment & share!
Mel says
I always ask myself how much it would cost me for the year if I were to do something. For example, I don’t usually buy coffee out, but if I really want to, then I have to say to myself, “If I bought one coffee five days a week for an entire year, I would spend $520 ($2 per coffee x 5 coffees a week x 52 weeks in a year). Based on the end number, I decide if it’s worth it. Would I rather get a coffee today or save an additional $520 a year?
Kat says
I have started to take a certain amount of cash out every Sunday, to last the week ahead. I try to keep to it, not touching my debit card.
It makes me think before buying that extra coffee, or paying for the carpark.
I have also ordered a pile of fancy looking paper cups. I make myself a nice coffee in them as I leave home, to sip in the car. So each coffee now costs me about 10p, rather than £2.50, but I feel like I have treated myself to a takeaway drink( my old indulgence).
I have worked out I now spend 30/40p on coffees now, as opposed to £8 a week! Of course, I will treat myself to a cafe once in awhile!
Heidi says
Those are great tips, Kat… thanks so much for sharing! I also like taking coffee-to-go from home in a nice cup in the car. It feels like such a treat, but saves so much money! 🙂
Lucy says
I save all my $1.00 & $5.00 bills! Believe me they really add up. I just purchased a new I Pad with several months of doing this.
Linda Davis says
I have started using a credit card for almost all my purchases., but to avoid spending more than I can afford I write every purchase in my check register and deduct the amount from my balance. Then I use a highlighter to identify the credit card purchase. This keeps me from spending more than I can afford and gives me a quick record of all my purchases to match up with the credit card bill when it comes. Paying the bill is easy since the money has already been allocated, plus I earn lots of points which I can use for free purchases like the fitbit I selected for my husband’s Christmas present.
Angel says
That’s an awesome idea! I’m going to have to try that to limit credit card purchases.
Tricia says
Lately, I have been making a list when I go to the store. No deviations! If it’s not on the list we don’t need it! I also went through my donation pile for Goodwill and found some nice stuff to took it to a consignment store instead. Putting money back into my pocket!
Courtney says
When I want to overspend…I try to think of the LONG term ramifications it will have…what will I be comprimising. When I was an overspender…I ended up having to work instead of being home with my littles. Now, I save, and STAY HOME!
Lauri N. says
Sounds like someone is applying the principles of Financial Peace University by Dave Ramsey, to which I say congratulations! I can’t say enough for his class that has enabled us to be debt-free.
Pam says
I took that class a couple of years ago. Still in the process of paying off my credit cards, which I no longer use, but the envelope system has really saved me and the extra I put into the emergency fund or to pay off debt. It’s not hard once you get into the process.
Allison says
I’m not sure if this will help save folks money, but in general I always ask myself how many hours I would have to work to pay for something and if it’s really worth that much work.
Heidi says
That’s definitely a great tip, Allison! It really helps to keep things in perspective before making a purchase.
~ Heidi
Katrina says
I did this with both of my kids growing up.. When they wanted to go out to eat, buy something etc. I would tell them “Mommy has to work ___ hours to pay for it.”
Has made a huge impact on my now 21 and 18 yr-old kids. They tend to think that way when it’s time to spend their paychecks…
Wanda Cooper Ehly says
I also try to think of how many hours I would have to work to get something and I tell my children so they understand when I say maybe not today.
Bridget says
Allison, I started doing this to my husband a few years back and now it has caught on. We say it to each other, and to our son. He loves having us home so when we point out how many hours we would have to work to make up for it, most of the time he decides that it is not worth it.