4 Tips to Stop Overspending

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4 ways to stop overspending

Spending money on the things we love is up there with the best. However, it can become a problem when you exceed your limits and begin overspending. 

Of course, there's no need to stop spending if it isn’t harming your financial stability, but if you have observed an unnecessary increase in your expenses, read on.

There are many complex psychological reasons for overspending, but it can be as simple as merely forgetting to keep track of your expenses. Both of these can be managed and dealt with in a healthy way and today we will discover how.

Before we begin, let us tell you how to identify whether you need to get your spending under control or not.


Whilst most sources paint debt in a negative light, debt is at the heart of everyday life. It’s likely everyone you know has debt in some form or another. According to some of the greatest economists, efficient debt management is a very good way to generate wealth and manage money.

However, debt can be divided into two types; good debt and bad debt. Good debt is the kind of debt that helps you enhance your financial growth and manage money better. 

On the other hand, bad debt, as the name suggests, is the kind of debt that does quite the opposite. We’ll be elaborating on this concept in our upcoming articles, so keep an eye on our news page!

For now, a simple way to recognise bad debt is identifying if you’re using credit cards and pay later schemes to get by day-to-day expenses and make ends meet. That’s a sign you may need to rein in the overspending.


One of the best ways to manage your finances efficiently and avoid overspending is to create a budget for yourself to analyse where you’re going wrong. Take a look at our blog about budgeting and money management to learn how to budget your living.

A properly planned budget can help you find out where you’re overspending, where you can cut down and where you can save. Once you’re done with creating a budget, you’ll know whether or not you need to get your spending habits under control. 

Now let us take a look at the 4 simple tips to stop overspending

How to Stop Spending: 4 Brilliant Tips

1. Cut Back on Impulse Buying

Impulsive buying is probably the greatest enemy of good financial habits and one all of us can relate to. Spotting that dress you were looking for or a cool gadget that might be fun to have around the house, or even that fancy pack of biscuits can lure us into making an impulsive decision.

However, make it a habit to sleep on it and ask yourself, do you really need it? Will you be getting the return on investment that you think you will? Will it really make a difference if you didn’t get it?

Start doing this and you will find that you probably don’t want half the things you think you ‘need’ while shopping.

2. Use Cash

Our brains react to credit cards, debit cards and online banking much differently than they do to the use of cash. If you’re anything like us, you’ll notice your spending habits are incredibly different depending on whether you’re spending cash or on card.

In fact, a study showed that credit cards can actually make people spend 113% more than they would while using cash.

Minimising the use of credit or debit cards and using as much cash as possible can actually help you keep your spending in check

3. Stick to the Shopping List

Wherever you go shopping, prepare a well-thought-out list of all the things you need, and once you enter the store stick to the list.

Now, of course, in a store full of a variety of products, it is easy to get tempted and distracted from your original purpose.

However, that’s the temptation that you need to fight and ensure that you stick to your shopping list. Get nothing more, nothing less.

4. Get Rid of Unnecessary Subscriptions 

If you do a thorough scan of your expenses, you may realise that you probably don’t use half the things that you pay for. This might be your Spotify account, Netflix, magazines, gym subscriptions or anything else you’ve signed up for on a whim.

Think about it, do you really need it? If you do, can you afford it? If not, well there are always free alternatives to all of it. Look for those free or cheaper alternatives and decrease your expenses.

Choose Salad Money For Fair and Affordable Personal Loans

Now that you know how to stop spending money unnecessarily you can manage your finances better and save more money.

However, in these trying times, if you find yourself in need of some emergency money, you can rest assured that we are here to help!

With our “More Than Your Score Loans,” you can get the most affordable loans regardless of your credit score.

At Salad Money, we recognise that the traditional credit score system can be an unfair way to analyse your creditworthiness.

Therefore, with our unique open banking-based affordability assessment we aim to provide you with fair personal loans at good interest rates.

To learn more about our services, click here or contact us now!

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