Don’t Spend what you don’t have (avoiding overspending)

This blog is to bring awareness to overspending, and the effects overspending can have on one's life. In my younger days overspending was something I did way too often. My poor decisions lead to an uncomfortable lifestyle, my life lessons taught me to do better going forward. Now I am here to help raise awareness so that you can avoid a life of stress and live a stress-free lifestyle.

The Effects of Overspending

• Delay in paying off debt: When overspending, it can take you longer to pay off debt; and added interest due to late payments can make it more challenging to get out of debt.

  
  

• Unpaid Expenses: Overspending can lead to being late on paying expenses, such as rent and car payments, being late on these expenses can lead to eviction or repossession, creating more stress on one’s life.

  
  

• Lack of food: Overspending on eating out and things that you can’t afford can lead to not having money left over to cover future food expenses.

  
  

• Uncomfortable Life: If you do not budget or prioritize while overspending may feel satisfying it can lead to an uncomfortable lifestyle.

• No Money for a Rainy Day: Instead of overspending you could save those extra funds for a rainy day. When we overspend, it can lead to having no funds to take care of emergencies such as a job loss or a car breakdown.

The Benefits of Not Overspending

• Less Stress and No Worries: Life is less stressful when your expenses are paid, and you’re not worried about unpaid bills due to overspending.

  
  

• Happier: You are happier when your bills are paid, you are happier when you have food to eat due to not making impulse decisions with your money

  
  

• Paid Expenses: You don’t have to worry about an eviction, electricity, or repossession due to poor spending habits.

  
  

• You can pay off debt: You have more money to pay off debt and build credit.

  
  

• Peace of mind: Your mind can rest on knowing that your budget is not affected.

  
  

How to avoid overspending:

Budgeting:

Having a budget can help you avoid overspending. A budget is good for tracking your expenses and keeping track of how much money you can spend, without affecting your expenses. A budget can help you spend within your means. You will also have to choose discipline. It's better to be disciplined than to stress over unpaid expenses.

Extra Income:

Picking up a side hustle can give you more money to spend and help avoid overspending.  Extra income through side hustles helped me keep expenses paid whenever I would overspend.

Be Aware

While we may know how overspending can affect us, the goal is to help us maintain awareness and make good decisions with our money, so that we do not reap poor consequences.

Hopefully this awareness causes you to make good decisions with your money and to not overspend. It’s important to be disciplined and to put priorities first. I learned this the hard way, but life has taught me to do better. Taking care of priorities and not overspending can lead to a stress-free life. Remember to not overspend if you cannot afford to do so, your expenses will thank you later.

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Discipline is Key🗝️

#KeepMoneyNow