Compulsive Spender? Here Are 15 Strategies To Resist Spending Money

If you’ve ever looked at your credit card statement and groaned at how much you’ve spent, you likely struggle with overspending. With purchases only requiring the click of a button or swipe of a card, overspending almost seems unavoidable, but it is. The following are fifteen strategies that can help you to stop spending money. 

1. Understand Your Triggers 

Photo Credit: Deposit Photos.

To resist spending money, you must first understand why you’re overspending. Your triggers are situations or feelings that cause you to spend money uselessly, and they’re different for each person. Do you spend money when you’re bored? Do you spend more money when you’re with friends? Is your spending influenced by your mood? Take a moment to think about your spending habits and identify your triggers.

2. Review Your Spending

Photo Credit: Deposit Photos.

Many believe that small everyday purchases don’t significantly affect their spending. But you’d be surprised how much money you spend weekly on small things. Look over your bank statement, paying attention to your discretionary spending. How often are you withdrawing cash, and what do you spend it on? How much are you spending on drinks and eating out? How much have you spent on entertainment?

3. Create a Zero-Based Budget

how much should I have in savings
Photo Credit: Deposit Photos.

A zero-based budget might be your best option if you struggle with managing your finances. A zero-based budget means that every penny is accounted for. Your income minus your expenses, savings, and investments should equal zero. Sticking to your budget will be easier when you’ve accounted for where every dollar has to go. If it’s your first time, it’ll take a few months to get used to it, but eventually, you’ll create a budget that works for you.

4. Shop With a List 

Photo Credit: Deposit Photos.

Never leave your house to go shopping without a list. If you struggle with spending too much money, you’re probably no stranger to impulse buying. It’s so easy to head to the store to purchase toothpaste and mouthwash and walk out with five additional items you had no plan on purchasing. To avoid impulse buying, whenever you’re heading to the store, prepare a list and commit to only buying the things on your list. 

5. Leave Your Card at Home

Photo Credit: Deposit Photos.

You can’t use your card if you don’t bring it with you. Many people don’t leave the house without their debit or credit card “just in case” they decide to purchase something. But these unplanned purchases are exactly how you spend more money than you intend to. When you carry cash, it’s more likely that you’ll stop and consider a purchase before making it. With your card, it’s easy to swipe without giving it a second thought. 

6. Avoid Restaurants and Takeout

Photo Credit: Deposit Photos.

Do you know how much you spend on eating out every month? Restaurants and takeout are major money pits for many people. It’s easy to look at meals as only a few dollars per meal, but those numbers quickly add up if you buy food several times a week. Instead of eating out, create a meal plan, shop for the ingredients you need, and meal prep each week to help you prepare your food more often. 

7. Ignore Sales 

Photo Credit: Deposit Photos.

Retailers know that everyone loves a good deal. But how much does a sale actually save you? If you wouldn’t have bought an item until you saw it was on sale, you aren’t actually saving anything. But if a store you regularly patronize is having a sale, avoid overspending by going in with a list of items you’re interested in. Don’t be persuaded by the discounts to purchase things you don’t need. 

8. Have a Financial Goal

Photo Credit: Deposit Photos.

Everyone should have a goal in mind for their finances. What are your financial goals? Are you saving to purchase a house or car? Are you building up your retirement income? Consider your current financial goals and use them as motivation to spend money wisely.

9. Block Marketing Emails 

Photo Credit: Deposit Photos.

Companies don’t hesitate to bombard your inbox with marketing emails and text messages. If you aren’t careful, it’s easy for these messages to catch your eyes and drive you to their website. Be mindful of what emails are coming into your inbox. If a company’s marketing emails tempt you to spend money impulsively, unsubscribe from their mailing list. 

10. Give Yourself an Allowance

Photo Credit: Deposit Photos.

You can’t overspend if there’s a limit on how much you can spend. When preparing your budget, set aside an amount you’re comfortable with that you can spend as you like. It’s impossible to avoid spending money entirely. However, by setting realistic limits for yourself, you can still enjoy your money without creating any financial strain. 

11. Reduce Time Spend on Socials

twitter social media
Photo Credit: Deposit Photos.

Between influencers encouraging you to purchase affiliate products, social media shops, and companies bombarding socials with ads, you might as well scroll through the apps with your card in one hand and your phone in the other. It’s really easy for someone who struggles with overspending to feel pressured by social media to buy the latest trending gadget or outfit. Reduce the amount of time you spend on social media to avoid spur-of-the-moment purchases. 

12. Delete Shopping Apps

Photo Credit: Deposit Photos.

Online shopping makes it so easy to have an entire shopping spree while lying in bed. These apps are designed to make shopping more convenient, but it’s a little too convenient for some people. If you struggle with spending too much time and money shopping online, deleting shopping apps from your phone might be a necessary step toward curbing your impulsive spending habits.

13. Use a Banking App

is Mercari legit
Photo Credit: Deposit Photos.

Banking apps make it easy to control how and when you use your money. You can set up automatic savings, autopay your bills, and set limits on your spending through your app. You could set withdrawal limits, block specific merchants, or temporarily freeze your card if necessary. Use the app to your advantage. 

14. Spend Money Intentionally

Photo Credit: Deposit Photos.

If there’s something you want to spend money on, consider your reasons for wanting it. Ask yourself why you need it, if there’s a cheaper alternative available, whether you need it right away, and how much use you’ll get out of it. If you pause and consider your purchases before spending money, you’re more likely to avoid spending on things you don’t need. 

15. Have No-Spend Days

Photo Credit: Deposit Photos.

A no-spend challenge could be helpful if you truly want to challenge yourself to change your spending habits. Your no-spend days can be tailored to suit your lifestyle and preferences but shouldn’t be done when you typically would not spend money. If you select a day of the week as a no-spend day, it shouldn’t be a day when you expect to be home all day, avoiding the shops. If you decide on a longer period, like a whole week to a month, establish realistic rules, like allowing yourself to replace necessities. Or, you could choose to have no-spend items like clothes, entertainment, or cosmetics. 

Website | + posts

She started her blog, The Money Dreamer, when she realized the 9-5 job was not the lifestyle she wanted anymore. After designing for a while, she wanted a more meaningful life, which was freedom, so she decided to venture out. She took action so that she can live her dream life and decided to help people to live theirs by helping them how to save, budget, and invest.

Similar Posts