How to Stop Overspending and Keep a Balanced Budget


Overspending is a major issue in US households. It has been estimated that the average consumer overspends by $7,400 every year. And while 74% of Americans stated that they had a budget, 79% said that they weren’t able to follow it. This eventually leads to more consumer debt when we should be focusing on saving. 

Curbing overspending doesn’t have to be difficult, however, and sometimes, only making a few lifestyle choices could be enough. Let’s take a look at how you can stop bleeding money and keep your budget under control.

Read the Signs

In order to stop overspending, you have to be aware that you’re overspending in the first place. If you’re constantly behind on your credit card payments or can only afford to pay the minimum, then that could be a sign. Another sign is if you automatically spend more when you make more money. You should be able to maintain your budget and put the extra money towards savings. You also shouldn’t have more stuff in your closet than in your bank account.

Look at Value Retailers and Find Deals

The fashion industry is one of the biggest scams there are, and if you fancy yourself a fashionista, know that keeping a budget will likely always be an issue. Instead, you should consider looking at value options that offer high-quality products without the pricey brand name. 

Stores like Belk are a perfect example. You’ll find great high-quality clothes for you and the whole family and you can get Belk Coupons virtually everywhere. They also have a rewards credit card and you can use Belk Coupons to get discounts on purchases made on it. This could be a way to make your credit card work for you, not the other way around.

Forget Your Credit Card Numbers

A lot of us know our credit card numbers by heart, but this can both be a gift and a curse. That ultimately facilitates impulse buying, which is often the main reason for overspending. Having to go and grab your card every time you make an online purchase will put an additional barrier up and will give you some extra time to think about it.

Cut on Entertainment and Food

There’s no reason to spend hundreds on food and entertainment each week. Take-out in particular is one of the major areas where people overspend without even realizing it. You also have to remember that this is often on ordinary food that you could easily make yourself. Once you realize how much a pizza really costs to make and how easy it is, you’llthink twice about spending $20 on a single pie.

If you want to go out with your friends and socialize, is there really that much of a difference between sitting at a table inthe new French bistro or enjoying a cup of coffee at a nice shop? If you’ve made the decision to spend less, you should let your friends know and they should be supportive. If they aren’t, then they’re not actually your friends.

Keeping a budget often boils down to making smarter decisions. Thankfully, everyone can adjust their spending as long as they're ready to make the sacrifice and truly commit to it.

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