If you find yourself overspending often, you’ll know that most of those purchases are made after you’ve spent a lot of time arguing with your inner voice, trying to convince yourself that you’re doing the right thing- even when it’s clear that you’re not.
Whether you’re shopping online, doing some window-shopping or passing by a store, people tend to find excuses to make for overspending and buying things impulsively.
‘I deserve it’
You’ve had a long week and you think spending beyond your budget is a great way to make you feel better. Here’s the deal: there’s nothing wrong with spoiling yourself with a little splurge, but it becomes a problem when you start to go overboard, sabotaging your financial health in the process.
‘Problem no dey finish’
You know the phrase: ‘Chop life, problem no dey finish’. Well, this sounds like good advice until you realize you’re constantly throwing your cash into thin air and you have no solid savings or investment. Problem no dey finish but money dey finish.
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‘I need it’
Sometimes, you don’t, but you find a way to convince yourself that you do. This often happens when you’re scrolling through social media and staring at all the nice wigs, bottles of perfume, watches, shoes and bags. If you don’t need it, don’t try to manipulate yourself into buying it. It might not be worth it in the end.
‘I was planning to buy it anyway’
No, you weren’t. You probably didn’t even know what it was until you stumbled on it at the store. Look away and move on, dear 😂
‘I can’t kill myself’
Yes, you can’t. However, what happens if an important expense comes up and you don’t have enough cash to attend to it? Enjoy yourself but don’t be careless in the process.
‘You only live once’
This is true, but you should remember that the outcome of your life is largely reliant on the choices you make. It’s very important to think about how the financial decisions you make today will shape the coming days. In many cases, people spend and splurge on things that only provide instant gratification and eventually, regrets.
‘Money is meant to be spent’
It’s also meant to be saved and invested. Spending lavishly on things you don’t need might be exciting in the heat of the moment but you could end up regretting it in the long run. While there’s nothing wrong with spending and taking care of yourself often, you should always prioritize savings and investments.
‘Money will always come’
Yes, it will. However, the future is unpredictable and it’s important to plan and prepare ahead. Saving and investing might be quite uncomfortable now but your future self will thank you.
What excuses do you make when you overspend? We’d love to know!
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