IPFW/Parkview Student Assistance Program

Are You Overspending?

Spontaneous spenders seek immediate gratification. They spend today and let tomorrow take care of itself. This, of course, may lead to overspending, or spending money that you don’t have.

If you are struggling or denying that you have any money problems, it’s time to take a close look at your finances. You need to get that checkbook in order as soon as possible. If you are a spontaneous spender, you need to tighten the reins and control your impulses.  While buying luxury items now might seem fun, you need to think about the future. Without any money in savings, you won’t be able to keep up your lifestyle forever. Here are some simple tips to get all types of money managers back on track.

Creating a budget may seem time-consuming but once you complete the process, it will  actually empower you to take control of your finances, and with empowerment comes a certain sense of freedom.  A budget allows you to understand where your money goes and to ensure you don’t spend more than you make.

Finally, learn to curb your spending. If you realize that your shopping and spending habits are out of control, quit them. If you have more than 3 credit cards per person in your household, it’s time to cut some of them up. If you do online shopping and are out of control, don’t go online, or have someone block the shopping sites you visit, and protect them with a password. If visiting the mall or other stores leaves you in a frenzy, avoid those locations.

(Health Sentry Newsletter-Volume 23, Issue 1)