Saving Money How To Stop The Habit Of Compulsive Spending?

[Good-Guy]

Saving money could be a very hard thing and a very difficult task. However, saving money depends on various factors. One of the most important factor is the behavior of a person and his attitude towards saving money. A person's habits also influence a lot on his capability to save money. A person whop spends a lot of money in an unnecessary way ends up spending more money.

Eventually, the habit of spending money in an unnecessary manner becomes a habit and this could l;ead to a full-blown addiction to spend money in an unnecessary way. Compulsive spending is a really big problem for so many people. The point comes when a person has an urge to spend money on unnecessary things just to feel normal.

In fact, many psychologists even consider the habit of compulsive spending a mental disorder because compulsive spending is seen as a way to cope with many life problems by the person who is suffering from the problem. Some psychologists believe that compulsive spending disorder is a kind of mental problem that is linked to impulse control problems. So, what are some essential steps a person could take in order to stop compulsive spending if he is suffering from this problem?

 

[Abigael]

Compulsive spending is truly a big issue that affects so many people. Which eventually leads them to not saving money and having a really shaky financial life. It can truly be named as a psychological disorder because people start spending a lot as a way of coping with the problems that they have in life.

One important thing that aids stopping this habit is self awareness. The realization that you are an impulsive spender is the first step to making resolutions to stop it. So you should start being so aware of yourself such that you will know things that make you spend alot.

You will notice that maybe you spend a lot when you are angry, anxious or sad. Or there are certain things like clothes, shoes or food that tempt you the most to start spending. Being aware of this will help you in making a decision faster before you start spending.

Then you need to start training yourself to learn self discipline. Which can be learnt by just saying no whenever you become aware of an urge to spend impulsively. The more you say no to your spending urges, the easier it gets to say no to many other things.

 

[Jasz]

To stop spending lavishly and to save some more money, you have to first decide fully in your mind. Here are some tips that can assist you save more money and stop lavishing:

1. Go out less often: going out for lunch or dinner alone or with friends take a big chunk of your money. Instead, prepare your meal at home and go out very occasionally.

2. Do not get carried away by buying everything on sale. You don't need all those things that are on sale in order to break your fast. The key is to buy what you really need instead of what is on sale at a cheaper price. A good way to know if you really need something or not is to ask yourself, do I really need this? If yes then buy it, if not then leave it, it will only add up more expenses in your shopping cart.

3. Plan a budget for the entire month and stick to it! Make sure you don't go over budget because that will only add up more expenses and will make it harder for you to save money!

4. Keep track of your expenses throughout the entire month so that you can see how much you are able to save.

5. Don't try to impress anybody.

6. Keep or disconnect your debit card if it's that worst. Thinking about the stress of going to bank can kill that spending vibe, be contented and don't borrow.

 

[Augusta]

Everything begins and ends with us to stop a thing means checking the root of it and cutting the problem from the root. I have come to realize from personal experience that we do have complusive spending via greed. We always want everything we see and that's a bad way to roll in the life, because this means that you would be depleting your resources and if you are not careful you become broke at all times

To deal with complusive spending you should do the following

Cut out addictions: This can be anything that you want to buy and get yourself satisfied when you like the thing or not at that particular time or not but you want to buy it and maybe use it later

Move out only with small money: Try going out with plenty money especially when you don't have very pressing needs to buy. Try and make sure that you are going out with little money on you

kill the urge to always buy: Avoid this urge to always wants to buy instead think about how to make More money and start it at once. Infact try and be addicted to making money than spending it, it will help you more.

 

[Shigobad2020]

To stop spending lavishly and to save some more money, you have to first decide fully in your mind. Here are some tips that can assist you save more money and stop lavishing:

1. Go out less often: going out for lunch or dinner alone or with friends take a big chunk of your money. Instead, prepare your meal at home and go out very occasionally.

2. Do not get carried away by buying everything on sale. You don't need all those things that are on sale in order to break your fast. The key is to buy what you really need instead of what is on sale at a cheaper price. A good way to know if you really need something or not is to ask yourself, do I really need this? If yes then buy it, if not then leave it, it will only add up more expenses in your shopping cart.

3. Plan a budget for the entire month and stick to it! Make sure you don't go over budget because that will only add up more expenses and will make it harder for you to save money!

4. Keep track of your expenses throughout the entire month so that you can see how much you are able to save.

5. Don't try to impress anybody.

6. Keep or disconnect your debit card if it's that worst. Thinking about the stress of going to bank can kill that spending vibe, be contented and don't borrow.

The moment you realises that you are a compulsive spender , then you must find a solution to your spending habit and if you still can't , then you need to see a psychologist for help . And there are also ways in which you as a person can control the way you spend.
Like you said , if you are clubbing and the going out frequently type , you must try and cut your outing because you spend money everytime you go out .

Secondly you need to have a budget plan that you will be following every month or weekly , taking for example you need to be saving at least one third of your salary every month , the second part should go on food stuffs and thing you needed and the last part must be your upkeep for the rest of the month.