How to Stop Overspending


Do you ever wonder how to stop overspending? Do you perhaps wonder where your money goes? Do you sometimes find yourself spending so much on insignificant things within a short period?

We have all been guilty of overspending at one point in our lives, where we get to a store to purchase a particular item but end up leaving with more than we budgeted. In the end, your closet, drawers, and cabinets get too full and overflowing because you keep buying things you do not need.

If you would like to know how to stop overspending, these are the four areas to watch out for:

1. Online Spending

The first area you have been overspending is online shopping. You always find yourself browsing for things to buy. If you are not shopping online through Instagram, you are on Zara or Amazon. If you are not Amazon, you are on Shopify or eBay. You have probably even taken your overspending to Facebook Market-place where you get deals while shopping, placing orders, and receiving packages.

It is easy and convenient to overspend while shopping online because you are not spending actual money, and little effort is required. You do not have to step out of the house, try on clothes in changing rooms, or walk through the cloth racks. All you have to do is click, click and click!

You are likely to know your card details offhand or have connected to PayPal directly such that you do not necessarily have to use your card. Online spending is an area of your life that you need to review.

A lot of people get a rush from receiving packages. I get that rush too! You know that feeling you get that moment your doorbell rings, and you hear “pack for Hannah”; your face brightens up immediately.

As good as this rush feels, you need to set timelines and rules for yourself whenever you shop. Give yourself a week in a month to shop online and ensure your buy all the things you need within that period.

Make a list before you do online shopping. Delete those online apps where you browse and overspend. A little Instagram, a little Facebook, a little Zara, and before you know it, you have overspent. Delete them! They would not help you build a bulletproof life.

2. Groceries

I have made so many videos on my Youtube channel where I spoke about how you can make a comprehensive grocery shopping list, reduce your grocery bills, and time yourself before going shopping. I have also created products and books to help you keep an eye on your grocery and have a good grocery list so that you do not overspend.

I am sometimes guilty of overspending when it comes to groceries as well. However, I try to control myself monthly and create boundaries. Being very strict on the grocery list has been helpful also.
You can do your grocery shopping by using a physical wallet. Put the cash you need in the wallet and go to the store without your card.

Also, look at your budget, analyze how much you have been spending in the last few months on groceries, and strategize how you can cut back your expenses.

3. Eating Out

Social hanging out is another area that you are overspending. Every weekend you are out with your friends tripping yourself, going to shows, and visiting top restaurants. Your budget will not balance if you are constantly eating out.

Find something to cook at home. Learn to cook a little bit here and there. You do not have to know how to cook up a storm, but you can learn to cook a few things for yourself. It is not healthy to eat out all the time. If you eat out three to four times every week, it is time to reduce it.

4. Buying Knick-Knacks

Purchasing knick-knacks may look innocent, but they eat into your finances. A little chocolate, just an extra bottle of wine, a piece of carrot cake, and cookies are ruining your budget. These knick-knacks are stopping you from savings. They are probably why you have not fulfilled your goals of getting on the property ladder.

I have learned to walk away from them. I once found myself looking at my budget and realized that it wasn’t balancing. Then I sat down with my expenses and started tracking them, only to find out that I had spent about £400 on chocolates, gum, wine, drinks, and all sort of knick-knacks. That £400 could have been used for something more tangible.

It takes deliberate effort to stop overspending and to reform your spending habit. Learn how to budget and set goals and safeguards in place so that the next time the urge to swipe your card comes, you may want to take a step backward and ask yourself if that expense is a necessity or another random unnecessary purchase.

I hope you have enjoyed this post.

Until next time,

All my love

Ronke O.

Published by ronkeodewumi

I am a Chartered Accountant (ACMA, CGMA) and seasoned Management Consultant with about 16 years of experience driving the delivery of strategic solutions to complex problems of global firms. Through my blog, youtube channel, social media, tailored courses and downloadable material, I share information, resources and tips to help you manage your money better, grow your business, progress in your career, thrive in difficult times and create a life that is safe from failure, while being the best version of yourself. You will also find here links to my youtube videos where I share more nuggets to help you achieve and live your dream life. I am based in London, United Kingdom and always happy to connect with you via email (, social media or my contact page here.

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