9 Clever Ways To Stop Overspending Now
This article is a guest post from Julia Markle from Clothing RIC – a website that offers coupon codes, clothing reviews, sale finds and much more! I thought it would be a great idea to start including articles on personal finance & saving money, and what better time to start than now in January after the holidays! Julia has used all of these tips to get rid of her overspending habit and I’m sure that they will help you too, if you’re looking to reduce your expenses!
I did not realize until a few months before that I was the victim of overspending. I had no idea how overspending was constantly stifling my budget and making me waste my precious bucks.
In this hectic schedule, shopping has become a nuisance that everyone wants to get over with it.
We make numerous purchases every day and most of the time we fall in habit of purchasing them without thinking or looking at their price tags. This simple habit does not look harmful at that instant; however, it impacts your accounts in the long run.
Not until I was falling in the pit of debt, I realized the consequences of my frequent overspending. It was also then I decided to reform my overspending habit and restore my budget.
The first step to getting out of this habit is to point where we are overspending and how can we avoid it. It is at first tedious and time-consuming but once you get used to it, it will come as second nature to you.
Your bank statement will significantly increase in just a few months. If you want to know how to stop over-spending then keep on reading how I tackled with this problem!
First Step: Make A To-Buy List Before Shopping
My shopping sprees were often impromptu and I grabbed things from every isle I passed. The stuff I bought was not essential and remain in my closet for months, I just bought it because it caught my eye. Since these items were not useful, I basically wasted my money.
I could have used this money to shop for things I need on regular basis. Since I have started making a list of my shopping visit has decreased and my closet and cabinets are free of junk. This list has also prevented me from running to store again and again and saved my fuel cost.
Take A Peek
Before you decide to go shopping always take a peek in your closet, cabinets, and fridge to see which items you need to shop.
It may happen that the items you are shopping are already stuffed in your closet. Always look inside your refrigerator to see which groceries need to be restocked and which must be discarded.
You may have half bottle of ketchup in the fridge or couple of steaks in the freezer, so might not want to pick another bottle for a month or steaks.
Wait For The Right Time To Strike
These are seasons in which the retail prices go reasonably down, you wait for these months to go shopping.
On peak period, which is usually around holidays and vacation the stores raise the prices of the items and you wind up spending more than the original retail price.
By picking items on sale or from clearance rack you can save a considerable amount of money. All you have to do is keep an eye out for sales.
P.S. The Chic Pursuit’s newsletter will always notify you of current sales! Sign up below to receive exclusive discounts.
Bargaining Is An Acquired Skill
In the world, where every item is tagged, we forget that there are few items on which we can bargain. You can bargain more often than you think you can.
For bargaining, you must know the current market rate for the particular product to convince the salesman to bargain. You can negotiate for any price by asking, before paying up for anything always try to negotiate and save yourself from overspending.
To save ourselves from exhaustion we go to the nearest store to shop. It may be possible that the prices are higher in your nearby store compared to neighborhood stores. Even when you are shopping online the price of the item may vary from website to website.
By cross-checking and comparing you can get the best deal on every purchase. It takes some effort on your behalf to do research but it is worth every penny.
Pro tip: Always check Amazon before you shop! See their latest discounts here.
Look For Free Stuff!
There are so many products in a store that are offered for free, on the purchase of another item whenever a new product is launched in the market the customers are hesitant to purchase it.
Thus, to promote their products they give them for free with another item. You can get free shampoos, water bottles, juices, bowls, mugs, and many more items for free. In this way, you will get two items in the price of one. Also, you can always discard the free item if you don’t like without any money guilt.
Hunt For Saving Coupons
The millennials are not shy to make use of their saving coupons. From nearby department stores to high-end stores, almost everyone facilitates their customers with coupons and promotional codes.
You can ask for these coupons from the store directly or find them on other websites. You can use promo code at the checkout when you are shopping online and also avail the offer of free shipping.
You can not only use the coupons for shopping for clothes and accessories but you can use it to purchase groceries, tools and other services. There are many apps that you can download to get these coupons on daily basis.
Pro tip: My favorite is Honey – it’s a free Google Chrome extension that alerts you of any deals that are currently happening on the pages that you’re shopping on.
Don’t Be Shy Of Using Student ID
Students are offered discount almost everywhere; from clothes to groceries, to cab-fares and tickets for amusement parks to diners. Students can get from 15-30% discount on every purchase and there are even places where you can get free entry on the basis of your student card.
By using your student card, you can save money from overspending that will help you to stay out on your student budget.
Here are a few of my favorite sites that offer student discounts on clothing:
Topshop – 20% Off
Express – 15% Off
Nastygal – Up to 50% Off (offer changes monthly)
Boohoo – 10% Off
Urban Outfitters – 10% Off
ASOS – 10 % Off
Doing your shopping online can save you hundreds of dollars through various offers and discount coupons. It can also save you a lot of time, because you can compare prices across websites more easily and faster. And what’s even better, you don’t even need to visit a physical store to get your items!
While some stores still charge you for shipping, this is becoming more rare by the day. Some of my favorite places to look for deals are Amazon (especially their Deals & Promotions section) as well as Nordstrom. Not only do they have constant sales on clothing, they also often reduce prices for homeware, decor and beauty.
Don’t Comprise Quality Over Quantity
The one golden rule I learned while trying to stop overspending was not to purchase cheap stuff. The cheap stuff is usually low-quality stuff, you might think you are saving money by purchasing a low-priced item, however, in reality, you are overspending.
Because the stuff is of poor quality it has no durability, it means in the near future you have to buy this item again. Which means that you are spending on a single item twice without getting good use out of it.
Instead of purchasing the same item again and again on low-price for once buy it in high quality. These high-quality goods are long-lasting and are not easily worn out, which means you don’t have to get them repaired again and again or buy once more.
These are some of the times through which I get over of my overspending habit. Since I have stopped overspending, I am not hoarding which means I have less stuff to dispose of.
I am not ankle deep in debts and loans and my budget has improved overall. It was difficult to get started on all the tips mentioned above at once. But one by one I embraced all of these tips and now they have become my routine.
I hope these tips assist you in getting rid of overspending, as they have helped me. This is a slow process but I can guarantee you, your efforts will not go wasted. If you have any more tips to which can help to avoid wasting money you can write down in the comments below.
Last but not least….
Start A Blog
Starting a blog won’t cut your expenses, but it’s an excellent way to increase your income.
I now earn arounf $4,000 per month from my blog mostly on auto-pilot, which is awesome. I also work my own hours and travel whenever I want, which is so freeing!
If you are interested in starting a blog and increasing your income, I’ve created a FREE course for you which helps you do exactly that.
My 5 Day Blog Launch Challenge will teach you everything that you need to know about creating a profitable blog, growing it and monetising it – starting at only $2.95/month through my special link with Bluehost. The course is completely free to join, so you have nothing to lose! Alternatively, you can also head over to my tutorial on how to create a blog for cheap.
Read These Next
Did you like this post? Share it on Pinterest!