Surely just one more designer bag won’t break the bank, right? Wrong, Overspending implies you had a budget of disposable income for the month that you intended to spend. The rest most likely paid for bills and savings for your future. If you’re overspending, you’re presumably taking cash from your savings account, credit card, overdraft, and, in turn, your future. Providing you have created a financial plan with the help of Thinking Big Financial Website, it’s time to start putting your new financial knowledge to use. And begin making decisions that will help you build the life you envision.  Overspending is an issue for individuals in love with the prospect of financial independence because it creates your timeline for gaining freedom just that teeny bit longer. Of course, sometimes dipping into your savings for an emergency repair or because of job loss can’t be helped. But choosing to overspend with money you don’t have will not support the future you dream of. To help you curb overspending in the future, you can a few tips and questions to ask yourself before buying something.  Picture by Retha Ferguson from Pexels – CC0 Licence Wait A Little While It may be oh so tempting in the spur of a moment to spontaneously buy a new dress you’ve just fallen in love with in a shop window. But, instead, why not wait for the excitement and adoration to subside by sleeping on it. In doing so, you may find the next day you don’t want it as much as you thought you would. + Satisfy Your Appetite Before you go out shopping, make sure you’ve had something to eat and drink before you do. This tip is especially important before you go food shopping. As it stops your appetite from taking control and going off course from your planned shopping list and budget. Is It Necessary? With an item, you’re ready to buy in hand, ask yourself whether it’s necessary and whether you’ll ever use it. By rationalizing what’s in your shopping basket, you can identify and put back the things you probably won’t get much use of.  Could You Borrow It Instead? A sudden invitation to a special event has caused you to think you need a new outfit to make a great impression. But instead of heading to the mall, you could ask to borrow a beautiful outfit from your friend instead. How Long Will It Take You To Afford It? Calculating the hours it took for you to work for a specific item you’re set on buying, is a sobering way to prevent you from overspending. For instance, when you work out, it’s taken you a week of work to afford a new Apple Watch – it may not seem like such an attractive purchase after all.  Overspending may seem harmless at the time and perhaps feels good for a little while. But once the novelty of a purchase passes away, you’re left with less in your savings and more to pay back on your credit card than before. By using the above tips, you can start taking charge of your spending habits and begin practicing new ways to prevent overspending from impacting your savings.

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