Life Matters Blog | Money Matters, Life Matters, Prosperity Matters, Financial Freedom Matters
Financial Freedom Matters: How do I Stop Excessive Spending?
Excessive spending is the number one reason most people end up with credit card debt. I’ve spent a lot of time analyzing excessive spending because this was a major contributor to how I ended up with over $150,000 in debt (not including my mortgage).
As someone who finds the mind fascinating (I even studied psychology as an undergrad student) I wanted to know why I kept spending beyond my means. I knew this was a bad idea, yet I kept doing it. Your reasons for overspending might not be the same as mine, but I hope my insights will help you find the meaning behind your excessive spending. Often where there’s meaning, there are tools we can use to change our behavior too!
For me, there were three main stages I progressed through on my journey to curb overspending. I’m simplifying here, and stages will vary depending on your situation. Here’s what it looked like for me: First there was a wake up call, then an understanding, and finally action steps to change my behavior.
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