How To Break Bad Spending Habits

Overspending is a widespread problem that a lot of people face. A habit that can seriously wreck one's finances, especially their ability to save. If spending less and saving more seems to be difficult for you, sheer will alone will not make the change. But hopefully, the strategies below can help you put the habit to rest and stay clear of debts. Enjoy!

Timestamp
00:00 Intro
00:25 Pay in cash
01:36 Know why you’re overspending
03:11 Set goals for yourself
04:31 Get help from friends and family
05:29 Set up a savings account
06:32 Make a budget
07:57 Evaluate every purchase
08:56 Plan your meals

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DISCLAIMER: I’m not a financial adviser. These videos are for educational purposes only. No official financial advice is being given. Please always check with a professional before making any investments or financial decisions. Your investments are your sole responsibility, these videos merely share my own opinions with no guarantee of gain or losses.
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[solcitozorrito]

I feel like the main issue, as usual, are social media. Many people are scared of being poor. They set being rich as the most important thing in the world and they feel deeply ashamed of not being Beyonce. All those ''you deserve it', 'treat yourself' etc make people spend way more that they actually need. Speaking out of experience, I was really ashamed wearing the same t-shirt to school because I had an impression that everyone looks at me. Then when I started to work and went to Sephora I noticed that the sellers treat me different when I have my nails done, more elegant clothes etc. I started to act kinda paranoic and I felt that I need more expensive phone, more expensive laptop etc. I am still there, I mean I am still feeling like I need more, but I am working on it. Pay attention on those things I mentioned recently, maybe it will help you too. :)

[JohnOhkumaThiel]

Meal Planning really hit the nail on the head with me. I was looking for ways to break one specific daily habit--on the level of people who waste money on Starbucks every day--that seems like nothing on a daily basis, but over the course of each month it's very expensive, and it also causes me to be overweight. This point made me realize it's not just that one thing but that I'm overindulgent in treating myself to foods that I enjoy most in general, both in terms of spending and just plain calories. Planning my meals is absolutely the best answer.

Thanks so much for this.

[DonGivani]

Also think when purchasing something, think how many hours you have to work for that item and think if it is justified to buy it.

For example If you earn 10 euro an hour, would buy then a 300 euro coat, for which you've worked 30 hours, ask yourself if the purchase justifies the 30 hard worked hours, yes than buy it, no so leave it or buy a cheaper one

[healthiswealth]

Your videos are always of great value to me sir

[mnvsatyanarayana]

Few people thoughts have impacts on others..May be you are the one sir and your voice really make me mesmerizing .

[joeykenney]

When it comes to finances, discipline truly is the way to freedom

[rohei]

The problem is people work hard 5 days a week (or even more). Spending money gives them the feeling to be rewarded for that hard work. And the reward part is absolutely okay. Do it! Imagine to reward yourself by buying ETFs or stocks and see your fortune grow. Not only in the short moment you buy something (let's be honest, mostly useless). The fun part is accumulating when you invest. Day for day, year for year. Believe me, that's the biggest reward you can give to yourself. Try it.

[nathanbrowne]

Make stuff rather than buy customising can make money too spray paint old things saves money rather then buying a new life make the most of second hand things saves

[DemetriPanici]

Embracing minimalism has really stopped me from spending money that I otherwise would have

[DonGivani]

Dealing with number one, pay with cash, nope, I just pay everything by card, NFC phone or online... I just keep a calculator on my Phone, that's show/ tells me exactly what I got . After I purchase something I will deduct that on my calculator-app and I see what I left immediately

[dannyhilbert]

The best to break that is by investing more and spending less. You can't become a millionaire depending on people for income rather get yourself a suitable investment and invest your money

[DemetriPanici]

*"It is not how much we have, but how much we enjoy, that makes happiness." Charles Spurgeon*

[ExplainedThroughRap]

Really good quality content here. I'm trying to move towards this sort of visual style on my own YouTube channel; do you film each clip?

[mikeg]

How do you spend money when you're tired, u can just go to sleep for free

[headsuphockeypodcast]

I max out my retirement accounts. I pay between credit, debit and cash.

[financeclubyt]

Great tips to spend less 👍 more money to Invest to build wealth 💪

[motivationbaychannel]

Dear friend, never forget to be the person you are, never change for somebody or something, be yourself, believe in your dreams, and never let someone with a smaller mind-set tell you that your dreams are too big.

[angelicatrino]

There are many ways of skinning a cat. You have to know yourself and how you tick. Credit cards make me stop spending. The thought of debt stresses me out. I only use it when I need what I bought and I am sure I earned enough to pay for that the same month. Use of card is for convenience sake. Cash is free money. There is no guilt when I use it.

[briangode]

These days we all should be very careful who are your real amigos or fake ones one never knows where or when you could run into weong volks trouble makers vandalism hard to avoid things such as bad roads just at first sight what is seen is not always the whole story had I used one auto shop first other was close by I could have. Avoided mucho problems saved dinero tho either was ok in some ways once you get to know volks who do it right stay with them tho in other places travels you need work on cars then as life is taking chances keeping all simple is the best way to do most things mucho things ideas on this I pad videos on love dating relations saving dinero are well said I add to them first see 2hat dinero you have then if need be gasoline auto club party food savings a little or a lot never not anything even Pennie’s nickels yourself should be first like dating if you have senora amigo steady or once in a while I do plan on simple dinning out not over fancy no alcohol drugs nice tho places can be done two right volks as me senora are two dates or three cost us what some spend on one ristorante meal for two watch for specials as my senora does 2for one in England gasoline prices are one only whole country usa varies stay near your home or date donot be stupid five miles away cheaper do you spend mucho to travel to spend less or selling scrap metal spending mucho more to get paid more dinero it is not what you earn how we use and spend our dinero use our automobiles how they rig the gasoline pumps to charge you mucho dinero dinero for gasoline you never get first see there low prices to get you there how is your miles per gallon no one figures out at times years back so cheap who worried u just got fuel when need be were you spending more th3n driving all over these days most drive less high prices also right times of day you save rush hour wastes more stop go we all need to thing before acting you may be in for big surprises