GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you might read more about oureditorial guidelinesand our products and servicesreview methodology.
And nobody understands that as acutely as a chronic overspender.
Mark S., a graphic designer from Sacramento, used tospend way too much money.
He often bought things he didnt need and found himself stressed about money.
I cant lie, Im into buying the latest and greatest, he told GOBankingRates.
And it became a problem.
But Mark learned how to change his habits.
Here are seventips that helped him stop overspending.
Track Your Spending
Mark started by looking at where his money was going.
I was scared to look at my bank statements, Mark said.
But when I started writing down everything I bought, I was shocked.
I was wasting money on stuff I didnt even remember buying.
Try using a budgeting app oreven a Google spreadsheetto track everything you buy for a month.
When you see where everything is going, you could start to readjust based on your wants and needs.
If I saw something I wanted to buy online, Id make myself wait a day, he explained.
Itssuch a cliche idea but it worked!
Most of the time, Id realize I didnt really need it.
This simple trick can help you avoid buying things on impulse.
Those special offer emails kept making me want to buy stuff, Mark said.
When I stopped getting them, I shopped a lot less.
Unsubscribing from these emails can help you avoid temptation.
Set Money Goals
Having clear goals helped Mark stay motivated to save money.
I decided I wanted to save for a Tesla he shared.
Having that goal made it easier to say no to buying things I didnt need.
Try setting your own goals, like saving for a trip, a car or any large purchase.
Use Cash for Fun Stuff
Mark started using cash for things like eating out and entertainment.
Id take out a set amount of cash each week for fun stuff, Mark said.
When the cash was gone, that was it.
It made me really think about how I was spending my money.
Find Free or Cheap Things To Do
Mark realized he was spending a lot on entertainment.
So he started looking forfree or cheap thingsto do.
I found out about so many free events in my city, he said.
I also started having movie nights at home instead of going to the cinema.
It was just as fun, and way cheaper.
Look for free events in your area or find cheaper ways to hang out with friends.
I started writing down three things I was grateful for each day, Mark shared.
It takes me five minutes and helped me appreciate what I already have.
Changing Habits Takes Time
Mark didnt change his spending habits overnight.
It took time and practice.
Itsowasnt easy at first, Mark said.
And I made mistakes sometimes.
But you know what?
Im trying, and Ill get there.
More From GOBankingRates
Share This Article:
