Resources for people who overspend
Are they any resources for people who overspend and have no savings?
I am have been working for 5 years and I have no savings whatsoever.
I always spend my savings away. Every time I save a lump some of money, I feel tempted to spend it on frivolous things (like clothes, beauty, etc). I do earn pretty decently but every time I get a pay rise, I still end up spending everything by the end of the month.
I have tried sticking to a budget but whenever I start having some money I feel tempted to spend it. Albeit on gifts for my family/friends, holiday trips, clothes, etc.
I am looking to settle down in life now but my SO isnt too keen about my spending habits. I need to start saving so that I can pay the down payment for a flat. I tried saving more carefully last year and I managed to save up till 10k before I ended up spending everything on some beauty treatment. I think I need help but I am not sure what kind of help I should get.
Thanks in advance
Here are what netizens think:
- That’s a sign for insurance agents to approach. Allocate a fixed monthly GIRO payment for some endowment policy.
- Since you are looking to settle down with your SO, why not open a joint account, let your SO take charge of it and deposit all your salary in it. Your SO will give you monthly allowance from there.
- 1) Cancel your credit cards
2) Quit online shopping
3) Transfer 30-40% of your monthly salary to another bank and lock your card away if you want to save more so you can settle down fast.
4)Â Limit your shopping and social activities to only 3 times a month with a specified budget to spend.
5) Already spent your budget on 2 occasions in a month? Then just decline invitations and stop going out until the next salary crediting comes along.
- There are lotsa options to this. Strong discipline is important. If you are serious in settling down you will have to change your spending habits. All the best!