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Are You Constantly Overspending? It’s Time to Check Yourself…

constantly overspendingHaving a little more spending money in your pocket is an attractive idea to just about anyone, especially with summer quickly approaching. The first step to having more money on hand is examining where it’s currently going and tailoring your current budget so that you have a little more wiggle room. Check out the useful tips below to see if you might be overspending in any area, and what you can do to stop if you are.

1) Paying Extra to Avoid Hassle

Convenience is one of the number one factors that contributes to overspending.

It’s present in almost every aspect of our daily lives. If you want to get somewhere fast, you may rely on a cab or car-share service instead of the bus. If you don’t have the time or desire to cook for yourself, you may order takeout or call for delivery instead.

While these things may seem small on a day-to-day basis, you could find that you’re actually spending quite a bit of money on these conveniences over the course of a month, or even just a week.

Related: Are You Eating Your Lunch, or Is Your Lunch Eating You?

Try writing down how much you spend in one week on these usually unnecessary time-savers and see if it’s higher than you assumed. Cutting some of these things out may help drastically reduce your monthly bills.

2) Watch Yourself at the Grocery Store

People magazine has some excellent tips for saving money when shopping for groceries, which can be one of the biggest unintentional money sinks in your weekly spending.

Sure, we all set aside money for groceries, but what about the extra things we don’t plan for?

  • The candy at the check-out,
  • the new cool gadget staring you in the face from the end-cap,
  • or surprise sales on your favorite treats?

These things may seem little at the time but can add up very quickly. Try to go into your grocery store with a set plan in mind so you don’t end up impulse buying things that look tasty or appealing. You may also want to consider keeping track of the items you have in your pantry to avoid buying more of something you already have, which is a problem that can cost people a fair amount in the long run.

3) Over-paying on Insurance

Insurance is a necessary expense, especially if we’re talking car insurance, which you need in order to drive. But are you paying more than you need to be?


Check with your local insurance companies to see if your rate is comparable to what other people in your general customer bracket are receiving. Many people find themselves sticking with the companies their parents had or going with ones that friends recommend simply out of familiarity, without actually shopping around or looking for comparisons.

You’ll probably discover that you’re spending way more than you need to be, and can readjust your insurance rates accordingly.

4) Be Mindful of Online Purchases

As Every Dollar points out, a pretty fair chunk of online purchases are made while someone is waiting in line or in a waiting room. Mobile phones make it easier to do so many things, but unfortunately, spending money is also one of them.

It’s as simple as tapping a button to be sent to your favorite virtual store. And loading up carts has never been easier. Monitor your virtual purchases and limit your online spending in accordance with the rest of your budget to avoid dropping excessive dollars on impulse buys.

Of course, at the base of all of this, you’ll need to have a sturdy budgeting system and perhaps someone who can help hold you accountable for the spending decisions you make. But these are a great place to start if you intend to shave off some unnecessary spending habits from your overall budget.

Are you constantly overspending? What’s your weakness?

Battle of the Mind


My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.

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