Do Not Let These Five Reasons Make you go on a Spending Spree

Sure it is fun to go shopping and leave with bags in hand, but it is no fun getting the bill later, especially if you cannot pay the entire balance off at once and it rolls over to the next month with interest, digging yourself deeper in debt.  For those that have a shopping addiction typically do not need any extra incentive to go on a shopping spree, but there are a few reasons that can sway the average spender.

Stressed Out

When you are feeling down the first thought may be to go shopping to get rid of the blues, but fight temptation and put stress into working out, as the extra shopping bills will drain your account and raise your credit card debt, only to leave you sad again when it comes time to pay.

Peer Pressure

Whether it is shoes, a car, house, no matter what the item is, we want to keep up with our peers, but do not let that influence get you to live beyond your means.  Stay within your budget and you will be able to treat yourself to the finer things in life when you save up.

Put it on a Credit Card

If you want an item and do not have the money for it, an instinct will be to put it on a credit card and worry about it later.  Sure it may work once or twice, but getting used to that mentality will only make things worse down the road and you will continue to live beyond your means, amounting to loads of credit card debt and no savings to show for it.

Running up a balance on your credit cards usually runs into overdraws, late payments, and the late fees and poor credit that goes along with all of that. This will lead you down the road of learning how to remove late payments from credit report agencies databases. Probably an additional hassle you want to avoid if possible.

Trying to Please

We want to make other happy, especially a spouse, friend, or family, and what better to show our love with gifts, but buying love only is short term, and with potentially long term effects on personal debt.  You are not thinking about finances when overspending, and could even ruin a relationship, which according to a survey by GOBankingRates, overspending was the biggest financial deal breaker in a relationship.

Falling for an Unneeded Sale

Black Friday for example is a great tactic by retailers to get people in the store, and it works, with record crowds.  Stay away from sales, as you will be more tempted to buy items because they’re on sale, not because you need them.

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