Tips and Advice

4 Common Excuses For Overspending

We need to look at our spending habits and learn how to tackle the common justifications for overspending. Get practical strategies for financial freedom.
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Edited by:
Kristin Marino verified

buy one get one free sign When it comes to shopping there are those who have self-control and those who don’t. There are frugal shoppers and impulsive shoppers. Do you know where you fall on the spectrum?

If you’re looking to save some funds and you are a more impulsive shopper who tends to lack self control it can be easy for you to justify your shopping needs. There are many ways to curb your spending and as the holidays loom it is more important than ever to set a little bit of money aside. Here are some widely used excuses you need to stop using while you’re out shopping.

  • But I deserve it! You’ve had a rough week and it’s time to treat yourself with a new pair of shoes or an expensive spa day. Everyone has a rough day, or week, or even month, doesn’t mean buying something will make you feel better. Try focusing on why you’ve had such a bad week and how you can fix it.
  • It’s on sale! If something is on sale it is very easy to justify that you can use it, need it, or simply wanted it. One of the best ways to avoid this impulse buy is to set the item back, wait a few days, and think about if you really need the item. If it is a necessity rather than just something you want then figure out how to fit it into your budget.
  • Keepin’ up with the Joneses. Whether it’s a new cell phone, car, or other hot commodity everyone wants what is new and shiny. Some speculate part of the reason many people are in debt is because of that constant need to keep up with their friends and family. Stop worry about what others have and focus on what you need now and want for your future.
  • I’ll just dip into my savings account. Usually smaller purchases will lead us to dip into our savings or emergency funds thinking that we’ll replenish it another time. It’s easy to justify a $20 purchase by saying you’ll spend less next week, but that that never happens and soon your account is down by $100. You savings account should only be used for what you’re saving for, hence the name, savings account.
  • The Takeaway

    Every day we are tempted into buying things that we don’t really need, but we always find an excuse for buying it. Next time you’re out shopping ask yourself “Do I really need this or just want it” and maybe even take a few days to think it over. Don’t let yourself get yourself get into debt because of overspending. AmONE can help you find financial solutions if your credit has been damaged by overspending. Contact AmONE today to learn more about debt consolidation loans, credit counseling, and credit repair.