Breaking the Vicious Cycle of overspending!

If you don’t know where you went wrong, then you are doomed to make the same mistakes over and over again.

The truth is that if you aware that at the middle of every month you have overspent, then you must make changes or you will always be in debt.

Overspending is almost an addiction to some people as they feel they simply have to purchase items that they can not afford.  For some it’s all about ‘keeping up with the Joneses’ so they buy the most expensive brands in order to they match their neighbours.

For others, it’s all about leading the pack. They purchase the latest gadgets and other items in order to set trends regardless of the pressure it places on their budget.

Shopping Pitfalls

The main problem is that consumers do not stick to their budget. There are many attractive banners advertising sales but a quick look at the offerings prove that these items are not of the best quality.

Retailers are usually only interested in getting rid of old stock and are not focusing on giving their customers the best value for their money.

Another issue affecting consumers is that they are often misled by false advertising. Although I didn’t really need a pair of shoes, I saw a sign that read buy one pair and get another pair with 50% off!

Initially it sounded like a good deal however, on closer examination, it was not such a deal after all as the shoes had to be from a specific area of the store.

The selected shoes were not currently fashionable in some cases and they had limited sizes. This means that even if you found one pair that you liked it would be likely that you would not find another in your size.

Equally disappointing is that some items you purchase have limited warranties. At a jewelry store the clerk informed me that the watch that I was thinking of buying had a warranty for only a few weeks.  So if it stopped working after that time, the store had no obligation to fix it.

It certainly makes sense therefore, to ensure you stick to your budget and not over spend. Some helpful suggestions for helping you to do so include: not carrying around all your cards and limiting the amount of cash you take shopping. It is also a good idea to avoid areas that you know will have stores to tempt you to break your budget.

So how do you ensure you stick that you stick with your budget?

Let me hear from you!

Teri Ann Renee Paisley

Gleaner online writer

Tags: budget