How to Stop Being a Habitual Spender

What is it about spending money that makes it so addictive? Maybe it’s the power you feel from having the ability to buy something new. Perhaps it’s the rush you get from collecting new things. Or maybe you just enjoy the act of spending, even if it’s on a gallon of gas. Well, regardless of why you love spending, loving it too much can get you into trouble. 

Before your finances get past the point of no return, let’s look at what you can do to get your spending under control.

Find Other Ways to Entertain Yourself

For many, shopping is a hobby. They’ll spend an entire weekend at the mall walking around as they look for something new to catch their eye. 

 If this sounds like you, the simplest way to stop constant spending is to find new entertainment alternatives. 

Am I suggesting activities like going to the movies or amusement parks? No, as the main goal is to find activities that are 100 percent free.

You don’t need to part with a single penny to enjoy yourself. Sure, transportation to the destination may have a cost, but the actual activity shouldn’t. 

For example, you can visit a local park and enjoy the weather amongst friends and family. You can invite friends over for a game night that doubles as a bonding experience. You can use your local library to check out free books, DVDs, and other forms of entertainment. You can also keep an eye out for free events in your town that pop up throughout the year.

Get creative, and you’ll find loads of free entertainment options. As you adopt this non-spending tradition, you’ll find yourself having more fun. 

You should start seeing a higher bank account balance at the end of each month, too, which will give you a feeling of accomplishment. Once this happens, feel free to pat yourself on the back for your newfound financial discipline.

Avoid Impulse Purchases  

Review all of your receipts, and you may be surprised at how much of your budget is blown on impulse purchases. With the explosion of online shopping, avoiding impulse purchases is harder than ever.

You are probably used to seeing impulse items near the cash register at the grocery store. Gossip magazines, candy, and other unnecessary things sit there for one reason: To ignite your need to make an impulse purchase. 

What usually happens before you exit the store? You end up buying at least one item that you didn’t need.

Thanks to the Internet, these impulse purchases are everywhere you go. To avoid them, make the following moves:

1. Delete your saved credit card information from all websites – Having to enter it before each purchase makes you less likely to click and buy continually.
2. Clear your browser history and bookmarks – Eliminating easy access to sites where you spend money can keep more money in your wallet.
3. Start to block – Beyond just deleting, start to block websites where you have trouble controlling your spending. 
4. Put a sticky note on your cards – Having a note stuck to your cards that says, “Is this necessary?” will remind you to stop an impulse purchase as it’s occurring.
5. Install Icebox – This Google Chrome extension prevents impulse purchases online by covering the “Add to cart” button with “Put it on ice.” You’ll only be able to buy the product once the cooling period ends. By then, you probably won’t want it anymore.