The causes of Overspending

If you are a person who is prone to overspending, you shouldn’t feel alone.  There are many people, especially in the Western world, who have this same problem.  Not every person overspends for the same reason, though.  There are various causes of overspending, including the ones that will be discussed in this article.        


Many people find that they overspend more often when they are under stress.  Even if the stress is financial, they will continue to spend when they really shouldn’t.  The reason for this is usually that getting something new makes them feel better and forget the stress that they are experiencing, at least for a time.  This is what some refer to as “Shop Therapy” because they find comfort in it.


There are people who overspend because they are simply greedy.  They want most everything that they see and they want it now.  These people are usually in a great deal of debt because they will buy on credit, rather than waiting until they have the money to purchase the items that they want to have.


The old phrase, “keeping up with the Joneses” is an apt one for people who overspend due to jealousy.  If the neighbors or their friends get something new, they experience feelings of jealousy and believe that if the other person gets to have it, they should, as well.  It doesn’t seem to occur to them that the other people may be in a better financial position to make the purchase than they are themselves.


For some people, shopping is something that they do out of sheer boredom.  This is especially true of housewives and/or single people.  These groups may get lonely and want to get out and see people.  They do this as they browse the aisles of the stores and fill their carts with new items which can lead to overspending. 


There are actually people who have a true shopping addiction.  This addiction is just as powerful as any other and should be taken just as seriously.  The shopping addict feels a literal “high” when he or she acquires new items and there are times that they need the feeling, whether they can really afford it or not.

If you are someone who has a tendency to overspend, you probably feel the stress that comes along with buying more than you really need or can afford.  You should always shop with cash, avoiding credit or debit cards whenever possible.  These make it exponentially easier to keep purchasing without even realizing how much you’ve spent until the statement arrives.  Whatever the reason, if you are an overspender, you should figure out ways to quell this habit so that you can realize freedom in your finances.