Top Tips if You Can’t Stop Spending

Top Tips if You Can’t Stop Spending

I can't stop Spending! Top tips

Detailed budget

If you find you have a spending problem, giving your euros' jobs' can be a good way to put an end to your issues. No, we don't mean spending everything in your account until you reach zero. When you make a detailed budget, you can allocate a certain amount of cash to every different category of spending you have, such as, mortgage, rent, savings, childcare, insurance, dining out, clothing, entertainment, transportation, and so on. Once the cash is allocated on gone from your current account, there is nothing there to spend.If you make sure you budget for saving money and that your spending plus savings equals your income, you'll know exactly how much you can spend responsibly. This way, you won't overspend since you can set limits on the different kinds of splurges that you enjoy.

Keep track of every euro

Making a budget only works if you ensure you're adhering to it -- and you must track your spending to know whether you're sticking to your limits. Tracking spending not only helps you know if you're sticking to your budget, but it can also help you limit spending. After all, if you know you must write down that purchase in your spending spreadsheet, you may think twice about making it.

There are apps to help you track spending. However, if you're really having a problem with your cash flow, you may be better off doing it manually. This would mean keeping all your receipts and entering them into a book at the end of every day. -- including the price --

When you keep track of every euro, you force yourself to be accountable, and you can get a much clearer picture of where your spending problems lie.

Envelope System

If you're having a hard time managing your spending, it may be time to put the cards away for a little while and switch to a cash-only envelope system. Basically, this system works by putting a designated amount of money into an envelope for each category of spending. If you've budgeted €50 for eating out, you'd put €50 in your eating out envelope. When the money in the envelope has been spent, you simply can't spend any more until next month when it's replenished.

Institute a 24-hour rule

Splurging is one of the big reasons for overspending, and it can happen when you make a purchase without really thinking about the long-term consequences. Fortunately, there's an easy way to put an end to these mindless purchases: just institute a 24-hour rule.

With a 24-hour rule, you stop yourself from buying anything that costs more than a certain amount until you've thought about it for 24 hours. You could, for example, say you'll buy nothing over €50 without thinking about it for a day. Often, you'll find that by simply waiting, the idea of the purchase will lose its lustre, and you'll end up not buying it at all.