062 - Understanding and Overcoming Overspending: Practical Steps to Break Your Habit
In this episode of the Mind Money Soul podcast, I’m going to be sharing practical steps to break your habit of overspending.
The biggest issue with overspending is the fact that you’re living outside your means. When you do this you can get yourself into a sticky financial situation including debt, struggling to manage your money and being unable to save or invest, which has a detrimental impact on your financial progress.
In this day and age, we’re marketed to constantly. There’s always an ad, billboard or a promotion and we’re constantly battling against marketing in an attempt to not overspend. It’s their job to highlight our pain points so that they can sell their product or service - we’re fighting against all of their clever marketing so we’re not parting with every penny of our hard earned cash. Understanding and overcoming overspending is one of the most important things you can do when it comes to working towards financial independence.
In this episode:
Examples of how you’re overspending
Common reasons behind overspending
The 4 hormones which are released when you spend
The psychology that drives overspending
How to understand and overcome your overspending
Ways to utilise your brains chemical directions to curb your overspending
Resources
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Get a copy of my FREE Monthly Spending Planner Template
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