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Is your spending out of control?

Is your spending out of control? Do you spend more than you earn and live paycheck to paycheck? Take a look at these 6 signs your spending is out of control to find out.

 

If you are anything like me, you have an amazing ability to spot a bargain a mile away.  But is your spending out of control?  It can be so easy to get carried away with bargain hunting and the thrill of a great deal, to the point that you are in face to saving anything.  So what are the signs that you spending could in fact be out of control?

 

6 Signs that your spending is out of control

 

1. You wallet it packed full of store loyalty cards.

 

If your wallet is full of store loyalty cards, chances are you frequent plenty of stores.  Why else would you be carrying them with you?  You love to browse your favourite stores even if you don’t actually need anything, and you get a thrill out of spending money just to get closer to those loyalty bonuses.

 

2. When you travel to a new city, you are excited the most by the shopping choices available.

 

You’re a little excited to see the cities themselves, but you mostly just want to hunt down those hot shopping spots that you have read so much about.  You even bring extra (empty) luggage to bring home all of your extra purchases, and you wont stop spending until those suitcases are full!

 

3. You use shopping as a method to deal with emotional situations.

 

When you are stressed, tired, or just need some time out, you head to the nearest shopping mall.  You are not really looking for anything in particular, you just find browsing the shops calming.  Problem is, you spot plenty of things you really want, but didn’t know even existed until you started browsing.

 

4. Your inbox is full of sale notifications from online stores, and you check your inbox for these emails several times a day.

 

You have email newsletter subscriptions to all of your favourite online stores, and they hit your inbox multiple times a day.  It’s all too tempting to click on those ‘SALE’ emails, and before you know it you have a cart full of ‘SALE’ items.  They are not things you actually need, but who can resist a great ‘bargain’.

 

5. You shop as a recreational activity, and so whenever you are bored you head straight for the shops, or for your computer to shop online.

 

Weekends are for shopping, and weeknights are for browsing online stores while watching tv.  If you find yourself with nothing else to do, your first thought is to head to the shops for a little ‘window shopping’.

 

6. when your income increases or you receive a lump sum of money such as a tax return, your first thought is what to spend it on.

 

You can’t help but get excited when a little extra money makes it’s way into your hands.  You immediately start wondering what you could spend it on.  Perhaps those shoes you spotted while window shopping on the weekend, or dinner out somewhere nice tonight.  You feel compelled to spend money, even if it’s on things you don’t need.

 

 

Do any of the above signs ring a bell?  It can be easy to fall into the trap of excessively spend, after all advertisers are paid to make us want to spend, the temptation is everywhere.  The key to taming your spending is to remove all of those urges and the temptation to spend.  The 6 tips below will help you stop your spending in it’s tracks.

 

6 Tips to stop control your spending

 

1. Unsubscribe to all store emails and sales alerts.

 

When you are trying to control your spending, the last thing you need is flashy sales emails in your face every time you check your inbox.  If you don’t know an online sale is happening, you can’t spend money on it.

 

2. Hold a big decluttering session.

 

Seeing just how much money you have spent on things you don’t even want is a great way to put an instant stop to your spending.  Nothing hits home more than calculating just how much money you have spent on those items you don’t even use.

 

3. Come up with a list of free activities you can do when boredom strikes.

 

If you find yourself hitting the shops when bored, it’s time to come up with some other activities to do instead.

 

4. Toss those store catalogues straight in the bin, don’t open them and definitely don’t bring them into the house.

 

Just like emails newsletters from online stores, catalogues are designed to make you want to spend.  If you can avoid browsing through the catalogues, you avoid the temptation to spend on all those unnecessary ‘must have’ items.

 

5. Avoid shops at all costs.  If there is a particular store that you just love, steer clear unless there is something you actually need.

 

Once again, avoiding temptation is the best way to avoid spending.  If you can’t see it, your less likely to want it.

 

6. Always shop with a list, and stick to it.  If it isn’t on the list, it gets put back on the shelf, no matter how much of a ‘bargain’ it is.

 

You have to be strict with this one, but if you can stick with it, it really works.  Always shop with a list, whether you are doing the grocery shopping or heading down to Kmart to grab a few items.  Especially always have a list when it comes to Kmart, it might help you avoid coming home with half the store!

 

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