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Insights on money, career and trading

3 Most Common Things People Overspend On

Posted on June 27, 2017 by Daniel at 2:22 pm

When it comes to people and money there are more people out there who tend to overspend than stay within their limits.  It can be easy to want to give into temptation and buy whatever you want in the moment regardless of the consequences.  Not to mention the introduction of credit cards into the modern world.  Credit makes it possible for people to live way beyond their means until they find themselves completely saturated in debt and in over their heads in interest.

People who overspend tend who have the same areas in common which they are tempted to overspend on.  Here are the most commonly seen things that people overspend their money on.

Eating and Drinking Out

When you go out to bars and restaurants you are spending as much as 500% more than you would if you were to make the same meal or drink at home.  Not only are the prices higher but if you are drinking too much alcohol you can start to lose touch with self-control and will spend even more money.

When you do the math, even just going out twice a week for an average of $20-$50 a pop each time depending on how much you eat and drink, still adds up to hundreds a month.  Imagine if you saved this money instead of spending it.  You could have enough money at the end of the year for a nice plane ticket somewhere.  Instead, you have nothing to show for it but a few receipts.

Clothes

Clothes are something that many people just can’t seem to control themselves about.  It can be easy to want to look your best whether it be with friends or for the workplace.  Because there are always so many temptations everywhere from online to in stores as you walk down the street, it can be one of the most difficult temptations not to give into if you are a fashion lover.

Some people have such an addiction that they can’t go past a store without going in and buying at least one thing.  If you have a shopping addiction you should consider one of the oldest tricks in the book which is putting your credit cards in water and freezing them.

Online Shopping

Going online is something that most people do at least once a day.  There are constant advertisements for things to buy online regardless of whether it is in your email inbox, your browser, or even on social media.

With the convenience of being able to buy in only a few clicks of a mouse, it can be entirely too tempting to make a variety of purchases.  Most people admit to buying at least one thing a week online.

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Insights on money, career and trading

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