We all fight with this, including me but overspending isn’t really what we need, we need to save and somehow we often convince ourselves that we cannot do it, that’s we don’t have enough for our daily usage, but those are all lies. Overspending can be curtailed, you don’t need no pastor and definitely don’t need a physician (except you have depression issues then you need a therapist) all you need is yourself and self-control. We all know that overspending is spending more money than you can comfortably afford on something you might not really need – that’s it, you might not need it. There are a few things you might want to stop or start doing more often if you want to curtail overspending and they are;
- Stop using plastics
Personally I have noticed that it’s easier for me to give out my cards for payments than actually count some huge naira notes and give out, with cards you don’t really feel it… Well not until you check your account balance. A friend of mine once told me that he had to break his card into two so as to ensure he doesn’t use them again (you can try that 😜) Nonetheless stop using your cards… Yeah I said it, stop using your cards. Whether it’s a debit card or a credit card just stop, use cash instead it keeps you conscious.
Set a budget and stick to it
Lol… We are all on this table… We all do it, we set budgets and we don’t stick to it. Setting a budget and sticking to it reduces your spending level by 50%. You know what you get in a month, set a budget with that (don’t go overboard), you could even do the 50-30-20 thing. 50 for your needs, 30 for your wants and 20 for saving… Easy peasy.
Make sure after setting the budget you stick to it.
Make a list and buy exactly what’s in it
Before you go to the shopping mall or the market, write out all the stuff you need to buy and when you get there buy what you have on the list, don’t buy what you like or what your eyes like. Avoid making decisions in the store, it’s better to stick to your already made list than buying on impulse.
Do not underestimate little expenses
You might think it doesn’t matter or it might even seem like it doesn’t, but it does. Every money is important, for instance you have one hundred naira and you take out just five naira, what you have left is ninety-five naira not a hundred naira again, so you see even one kobo should not be spent wastefully.
Yeah baby, buy original, when you’re getting something get the original of it. Kill that idea of trying to get two or three fake things and then trying to substitute it. It doesn’t totally work trust me. Let’s assume you’re supposed to get a sandals worth four thousand naira and that’s for an original, and a fake costs eight hundred naira only. Now normally a good sandals should last you for about four to six months before its due or being considered for change, but the fake ones last for about two to three weeks, so that means you have to keep spending eight hundred naira every three weeks for about six months which is actually eight times within the six months and it equals six thousand four hundred naira. Well two thousand four hundred naira might actually sound or look small but remember do not underestimate little expenses. In all it sounds like wasting and overspending money. So buy original.
It’s complex when thought about and sometimes uninteresting, other times like something we can’t do. We can just follow the 50-30-20 rule I talked about earlier. Now let’s assume you make one hundred thousand naira every month, fifty thousand naira is for you need (housing, food etc.), thirty thousand naira for your want (new PS, new hair, etc.), and twenty thousand naira for your savings (you see the smallest part is what you actually save 😂), it’s actually a very good step. No matter how little you think the money is JUST START.
Finally, don’t think that owing debts is a good idea because it isn’t, also don’t try to do things because a friend or celebrity is doing it that way, don’t try to be someone’s photocopy when you can be the ORIGINAL YOU. Do things on the level you can afford them or as we say “no go dey do pass yourself” remember that Rome was not built in a day, it’s one foot after another. So in general self-control is the key to STOP OVERSPENDING because if you have self control you’ll follow these rules.
You can’t afford it if you can’t buy it twice
Do you know who said that👆🏽let me know in the comment section, also if you have a few tips or hacks that could help… Please drop a comment.
Until the next one Millie gang!! Stay focused
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