Are you looking for money saving tips as someone who chronically overspends?
Overspending can happen in just minutes and while it feels good in the moment, looking at your bank account feels horrible after.
While financial situations can be stressful, there is most definitely ways to get back on track. Although it may be stressful at first, once you learn how to manage your money by following money saving tips, it becomes addicting to see the results! Watching your savings grow and your bad money habits disappear is the best feeling ever! There are certain habits that are easy to attain to ensure overspending becomes a thing of the past.
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Why are money saving tips important?
Learning how to save money is incredibly important. Saving money allows us to do more with our money in terms of longevity. Nonetheless, by saving on things we don’t need, we can invest that money elsewhere. Here are some things you can achieve just from saving money from overspending.
- Investments
- Save for down payments
- Save up an emergency fund
- Pay off debt
- Spend on necessities
- Less stress on financial situations
- … and more!
Overspending is essentially living above your means. This can come in all shapes and forms. Maybe you’re not earning enough, maybe you love shopping sprees, or maybe the cost of living has gotten to you. There are so many solutions for this and they will make such a difference for you!
1. Ultimate money saving tips start with budgeting!
Budgeting is crucial for gaining betting spending habits. Of all the money spending tips I could give, budgeting will always be first!
Learning how to manage your money at the foundation is what will help you save for the long term. It teaches you great discipline, and also isn’t too hard.
I have a blog post centered around exactly how you can learn to budget as a beginner. This post goes into great detail with examples on where to start with budgeting.
However, for the sake of this post, the intent behind learning how to budget is to unlearn overspending. Creating a budget you can stick to will ensure you are not going above your means each paycheck.
2. Cash back apps
There are so many apps out there that allow you to earn cash back on stores you shop at regularly.
This does not require you to go out and shop at places you don’t usually shop, although you can, do not fall in to that habit! Stick to the essentials and watch yourself get some of the money you spent back.
Ibotta is an application that does just that. Ibotta allows you to earn cash back at stores you shop at regularly so you’re saving money on your necessities. You can earn a decent amount of money back on your purchases so I genuinely encourage people use this app or apps like this.
Ibotta is an incredibly popular cash back app for grocery purchases and everyday essentials. Using an app like this will not only allow you to save money on the things you need, but teach you how to as well. You can browse online at hundreds of stores or add coupons to your app to scan at check out.
You can sign up for Ibotta and get a $5 welcome offer by using code: YCLXMQQ here!
Also, check the grocery stores you frequent often to see if they have their own apps that allow you to download coupons to scan at check out as well.
3. Start side hustles
One way to save more money is to earn more!
In college I always had two jobs. Yes, life was crazy however I always had multiple streams of income I was able to delegate for specific things.
With that said, a lot of us may not have the time. With commuting potentially taking up a lot of our day along with our 9-5’s, having kids, or being consumed with school, it can be incredibly hard to take on another part-time job.
However, there are lots of websites that allow you earn money online in your own time! I wrote a blog post specifically on realistic and easy ways you can make money online here.
This blog post provides specific websites you can sign up for and immediately start earning money on! You can use these websites on your own time. Whether that be while you’re watching TV or have time before bed, these are perfect ways to earn a little extra to save.
One of my favorite tips from the blog post is earning money through Pureprofile! It is a super easy survey platform that allows you to earn cash from answering questions. Although I am sure you have heard plenty about survey sites, this one is awesome because their pay outs are much higher and competitive. I definitely recommend you try it out and read the blog post here for more ideas!
4. Cut expenses
Overspending absolutely means there is somewhere we need to cut back on. Although it may seem difficult to learn how to cut back one expenses and where to cut back on them, budgeting can make it easier. With that said, here are some money saving tips you can add to your mindset when it comes to spending that can help you cut expenses:
- Ask yourself, is this a need or a want?
- Do I have enough money to buy this 3 times?
- If I buy this, will I regret it later or will this be useful?
These are just three things to keep in mind when it comes to swiping your card! Thinking about these things before buying items will help you instill a money saving type of mindset!
5. Sell some of your stuff
With overspending comes owning wayyyy too much stuff! As someone who used to spend so much money on things like clothes and shoes, I now just sell them online when I am done with them! There are so many items in my closet that have just sat there and collected dust and I am sure it’s the same for everyone.
Here are some websites you can use to sell your items:
- Poshmark (Use code: ATSPOSHCLOSET for a great welcome offer!)
- Depop
- Facebook marketplace
These are all really popular and valuable ways to get rid of some of the clutter or items you never plan on using. Although this doesn’t always help with overspending, but at least it can clean up some of the damages from doing so! However earning a little extra money back from overspending can allow you to save it elsewhere.
