Addicted to spending? How to stop excessive spending?

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For amazon, I used to only order when my cart hit $100. And when it did hit, I would review all the items to see if i still needed it or even needed it at all. Usually i would end up taking something out, reducing the balance and causing me to wait until I had the minimum again. Also, my spending dropped a ton when Gmail sorted promotions into their own folder. I realized that i was easily influenced by “50% off till midnight!!!”

itsloudinmyhead

First off — no need to feel stupid. Don’t feel bad about yourself. We’ve all had to overcome some adversities in life. The fact you’re even self-aware of this issue, looking to correct it, and seeking help is a huge step! You should feel proud of yourself. You’ll overcome this, don’t worry! Of course, making a budget, removing yourself from the promotional emails, deleting the Amazon and other shopping apps from your phone, having money transferred from your checking account into a separate savings account, etc — are all great tips. I don’t have too much to add on those specific things, except to mention that I’ve also struggled with this. For me, I was more of an emotional spender. If I had a stressful day at work, an argument with my boyfriend, or just wasn’t having a good day — I would buy a new shirt, or a new pair of shoes, etc. I was wasting my money trying to fill emotional voids. I would browse my favorite clothing websites, telling myself that I was “just going to window shop, and not buy anything” — only to of course, purchase things I didn’t need. I also think that social media influencers, constantly persuading us to purchase things, and the heavy amount of consumerism as a whole also plays a huge factor as to why we have such a big spending problem as a nation. Having the self-discipline to realize that I wanted to make my money work for me, as opposed to me working for my money, was key to start changing my perspective. I also had to understand that I needed to find a better solution to my rough days, that didn’t include spending money on things I didn’t need. Because I realized that if I didn’t start now, (I’m in my 20’s and still relatively young), I would spend the rest of my life drowning in debt. Here are some things to consider: I think it’s extremely important to understand your relationship with money. Because I didn’t have a lot of money growing up, the constant need to spend almost felt… liberating to me. Maybe you should take a look at your emotional ties to money, your triggers (is there a theme that typically occurs in your life or within yourself during the days where you find yourself excessively spending?), what emotional need do you think the Amazon purchases are subconsciously trying to fill for you? (Are you lonely, depressed, angry, etc. If so, how can you channel those emotions in a more productive and healthier way, that doesn’t include spending.), and how has your relationship with money as a child shaped the way you view it as an adult? (Growing up, was money even discussed in your household. Did you come from a more upscale wealthier family. Or did you come from a family that struggled financially. How do you think that shaped your perspective on money as you grew older.) Those are just some things to reflect on. Money, emotional trauma, and our mindset are all intertwined more than people realize. Also, a YouTube channel that also helped me was a channel called The Financial Diet. If you Youtube “How I ruined my credit in three months” and “7 toxic habits that got me into debt” — from The Financial Diet, I think it would be insightful. I think you’ll find that this is more common than you’d think, and that you’re not alone. You’ll overcome this, I promise! Please don’t feel ashamed, embarrassed, or discouraged. Keep us updated, if you’d like! I hope those suggestions helped! 💕

snmaturo

There are a lot of methods people use to reduce spending. For example I know someone who sets a budget for herself, and stashes the rest in a bank account at a local bank with a crappy website where she has turned off local access and has no debit card – so if she wants to use the money, she has to go physically talk to someone in the branch. She’d do it for an emergency, but it prevents her from dipping into it for some new kitchen spatulas she doesn’t need or some shoes on sale. For credit cards, there’s the classic “put them in the bottom of the deep freeze” method. Honestly, though, my best recommendation isn’t financial advice. It’s therapy. A lot of people have weird emotional stuff going on and therapy can genuinely help you unpack whatever is going on.

justimpolite

Short term: delete your cards from Amazon and other sites so you can’t use the a “buy now”. Delete the apps from your phone also. Remove you passwords if you use the autofill options. Seems silly, but having to “work” a little more to make the purchase might help you realize you really don’t need this items after all. Seek professional help to get to the root problem of your spending. Figure out a realistic budget. You say you should have $1600 after some bills, but you haven’t included things like food, gas/transportation, etc. Take a notebook and write down every purchase for a month or so. Once you figure out your actual budget, move any “excess” to another bank account automatically. Out of site, out of mind type of thinking. Lock up your credit cards and only use cash. At least for a few months. Take inventory of your home. Once you see you have 5 white shirts and 12 pants of jeans it might help you not to go on spending sprees. Note: A while back I cleaned out my closest and was pretty embarrassed I had 3 white shell tops that looked nearly identical. After that I’ve been much better about just blindly buying clothes. I also “found” clothes I forgot I bought because they were in the back of the closet. Now every quarter I take inventory and it seems to keep me in check.

chefddog3

The other person’s suggestion about self control is good as well. But you should also open a savings account at a different bank then your regular account. Then set up money from your paycheck to go there automatically. You can usually do split direct deposit. Also, I always do the ‘wait a day’ method, where I tell myself I can buy it tomorrow if I still want it. Most of the time I never go back to buy it or are not interested anymore. But this requires self control. Yes occasionally I still buy something, but 90% of the time I’m not buying the stuff I almost do.

getaway18