It's a couple of days before Christmas. You are scrolling through shop websites, thrifts stores, aisles of toys, and new collectibles. There it is; it's perfect, you cannot wait to see it in action, people are going to love it, but of course, none of them will love it like you. After all, you're the one that bought it. You go all out; it is the season, no? You buy the best of the best, the most of the most. It can be thrilling to buy so much, probably imagining what you will do with said gifts. Some time later, you look at how much money you used and how it has affected the rest of your savings or checking.
Overspending is extremely common in the US and during holiday seasons, such as Christmas. Despite its popularity, overspending is not okay nor beneficial. Our financial stability should be taken seriously and kept in mind during our gift-giving desires. I believe that many impulsive buyers end up regretting their purchase either because they realize the product is not practical, their money has dramatically suffered, or both.
Let's begin with some terminology. Overspending means overusing or using too much money, mostly related to using more than you have. Second, impulsive buying or buyers are customers that buy without thinking and stopping to analyze their decision and product. Within the terms and overall world of overspending, there can be many emotions tied to why we use our money in such ways during the holidays. We can feel guilt, excitement, embarrassment, jealousy, etc. Many holiday purchases can relate to our status and guilt or excitement from gift-giving.
Emotions are very prominent and challenging during the holidays and shopping sprees, and we must work through them.
If you feel guilty for not buying enough presents or feel wrong about someone gifting you without giving something back, there is no need to beat yourself up. These emotions are perfectly reasonable and valid. Likewise, any emotion, like excitement or thrill, is perfectly normal. Excessive buying can also come from the idea of needing something that has made you excited, not necessarily for yourself but for others you may gift it to. All of these reasons are nothing you should be beating yourself up for. However, your bank account should not suffer due to these emotional drives. Instead of regretting and reminiscing on your mistakes, you should grow disciplined.
Stop and think about your purchase and why you are buying it; you can repeat this process with your purchases.
Why are you buying this? Is it useful? Is it worth it? Can you afford it? How quickly can you recover from this price? Perhaps these questions can be upsetting or tedious, but they are important so that you can recognize your decisions.
Discipline is not easy to follow, but I believe that it is what is required to solve the problem of overspending. It may be difficult initially, but impulsive buyers should have mantras or thoughts in their minds while shopping. Mantras can be helpful to remind yourself of your goals and relax when you feel anxious or confused. I highly recommend that overspenders stop and think about why they are buying certain products; there are always some cons and pros that outweigh each other. You can control and think about different concepts with mantras, too.
Such as, I can afford this later, I don't need this, There may be something cheaper.
Another excellent method is to try and make handmade gifts. It's understandable that many of us are not the most skilled and arts and crafts but making handcrafted gifts can be very fulfilling and much cheaper. Also, handmade gifts can have much more thought and care put into them and can be even more personalized than other bought items. If you feel like the desired present is something you cannot make yourself, try and improvise. Make the best of the experience.
Finally, the last method (which people may find the most tiring or least exciting) is creating a budget. Budgets are extremely helpful with season shopping. You can create a budget based on what you can spend and the ideal usage of your money. Overspenders should limit their shopping to cooperate with the money they have. Limit yourself to gifts and the prices of said items. You can put a specific limit/budget for what each gift should cost or the person you will be buying gifts for.
Remember that gift shopping can always be fun, healthy, and responsible!
Please get in touch with me or comment for anything you would like me to add or have more questions!!~
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