How To Resist Overspending

Everyone knows how hard it is to save money, but spending too much is even worse. With the ease of credit cards, many people live beyond their means. That means they spend more than they earn. Whipping out a credit card every time anything is bought is a definite way to end up in debt. While it might not be easy to leave those credit cards at home or in the car, it is the best way to resist overspending. Another way to be thrifty is to only carry a small amount of cash with you while window shopping. That way it is impossible to spend more than you have in your wallet. Making a budget is a smart way to keep spending in check as well. Knowing how much of your pay is set aside for entertainment is the best way of monitoring spending habits. Once that amount is spent, nothing else can be spent on entertainment until the following month. Being thrifty is also a great way to resist overspending. Never buy brand names when a generic equivalent is available. Most store brands are made by the same companies, but the savings can make a huge difference in spending. When new clothes are needed, avoid expensive department stores and check out consignment shops. Many items of clothing sold second hand might never have even been worn, but you can end up saving half the retail price. Goodwill and the Salvation Army also have stores that sell gently used items. When car shopping, avoid buying a new car. As soon as it’s driven off the lot, it loses thousands of dollars in value. Wait a year or two and get a used one, thereby saving thousands of dollars. A used car will also have lower monthly payments, which will take a smaller chunk out of your earnings. Don’t buy bottled water. Get filtered water or put a filter on your faucet and make your own bottled water. This could save hundreds of dollars a year. Considering the recent reports on the dangers of bottled water, this might be the safest as well as thrifty way to go. Avoid getting unlimited coverage on things like cell phones. You could save money by lowering minutes, texts and data to a level that you actually use. Don’t go too low of course, because the penalty imposed negates any savings. Rent movies instead of buying them. A few dollars renting is better than the $20 to own a movie that might only be watched a few times anyway. These are only a few examples of how to be thrifty to resist overspending. It’s much easier to budget and go without than to acquire more debt than you are able to pay off, and bankruptcy should never be an option. Category:Home › Other • Pomegranates: A newly discovered superfood • Where did the joke why did the chicken cross the road come from and why is it funny? • Can mothers diagnosed with bipolar disorder make good parents? • Spiritual evolution of human consciousness • Tips for getting a college basketball scholarship • Living with Pseudotumor cerebri (PTC) • Caring for the caregiver • Technologys impact on society