Tips for Keeping Shopping Under Control

Regain control over your cash

black woman shopping Face it, the holidays are long gone. You have no excuse to still be shopping like Christmas is tomorrow. Put your wallet down and listen up. If overspending is wiping out your bank account, it’s time to take action and regain control over your money. Here are three tips for reeling in your shopping habit.

1. Know your shopping triggers. Often, overspending is rooted in emotions. As soon as you feel the need to go shopping, stop and write down what you are feeling. Did something happen at work that got you in a bad mood? Are you feeling lonely? Be aware of events that cause you to run to the nearest department store.

2. Develop a support network. Did you know there are support groups available if you have trouble controlling your impulse to spend money? One support group, Debtors Anonymous (www.debtorsanonymous.org), can offer tools to help you develop healthier habits.

3. Stop relying on credit cards. Only carry cash until you get your financial problems under control. This will force you to think about each purchase you make and minimize the desire to overspend. You’ll also save yourself the trouble of managing a large credit card bill and racking up outrageous interest fees.

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