Over-Spending Online? How Do You Overcome an Online Shopping Addiction? Tips to Keep Your Expenses Under Control While Shopping Online.
Online shopping is pleasant and fun unless you end up overspending money in it. Are you hooked up to the habit of spending hours surfing through an e-commerce website? I was. Alas, now I can control. Apart from offering some good deals, there are useless things to buy.
According to a report never in the history has Americans been so highly overspending on online shopping. This has led to the crest of credit card debt the nation ever had.
In the recent years, online shopping has become very easy and convenient. I’m still confused about whose convenience it is. Companies or Consumers? Whatever, but now we have to give serious consideration on exercising self-control to avoid overspending. I think failing to learn this will soon bankrupt us.
None the less all of us think about how to save up money this or that way. But nothing works out. Last week I met a friend of mine who spends nearly half of his salary on online sales. He later realized that many things he bought were really not needed.
We’ll first see the root cause of this glitch. This will help us to map effective strategy on moneycontrol.
Reasons for Overspending
Many of us enjoy going to an online shopping website just to get around. There is nothing wrong in this. When we see those products we feel a small amount of joy. This joy increases if we keep on pondering over the product and at last we click the buy button to fully enjoy buying.
when we do something we enjoy, like eating or shopping, dopamine is released in our brain. You might think what is dopamine? Dopamine gives us a rewarding experience when we enjoy what we do. It also signals the brain that it is worth doing more or getting more of it.
The next time if you feel that you’re enjoying more remember that dopamine is behind that scene.
Many tend to overspend money on online shopping because they do not feel the pain of putting hands in their pocket and drawing it out. Online payment relieves you from this pain and you do not see the worth of your money.
Shopping when you’re not emotionally stable can drive you to overspend. If you just had a fight with your friend, recently experienced a breakup or just had a strong contention with your parents and you are shopping know that you are going to spend more this time.
When we are upset we want to reverse the feeling. When we go online, we get that feel good effect; we do not want to be away from that joy and to gain that joy we lose our financial balance. This means we overspend.
So if you’re asking me “I want to budget my money” I can surely help you in this regard. Please take a look at the tips to get the perk of exercising self-control to avoid overspending so you can know how to avoid wasting money.
Ways to Prevent Overspending Shopping Online
A writer once said, “Money, like emotions, is something you must control to keep your life on the right track.” I think we all echo this sentiment.
Fix a Budget
Preparing a budget should be paramount on your to-do list. It is noticed that those who prepare a budget to save more than those who do not. Sit with a pen, paper and calculator to summarize your needs and the amount you allot to each need.
If you’ve an overspending spouse you should speak to her about your financial goals.
Delete the Credit Card Information
Online shopping companies have made it very easy for you to navigate from I wish to I bought. They want to keep you away from the pain of spending. They do this meticulously by giving the service of saving your credit card information on their website so that whenever your want to buy you just tap a one-click button.
So, delete all the credit card information from the shopping site. If you are an intense buyer, then try fully avoiding your credit card. Use your debit card instead.
Return to Cash
Since the inception of online shopping, you may have avoided going to a stop and shop store. This time take a turn, use your cash.
Try purchasing things by going to stop and shop sales and using cash. You can set this as your short-term financial goal. Believe me; this will help you to save some money.
Ask Questions Before You Click
Take a break at least for 30 minutes, ponder over these questions. If you find that at least one of the questions has an unfavorable reply for you then do not click. Close the site immediately and do some other work.
- Do I really need this product?
- Are you living beyond your means?
- Will I regret this purchase after a week?
- How much time I have to work to earn this amount?
- Will I have purchased this item in a brick and mortar store?
- How much have I spent on online shopping in the last 15 days?
Delete Cookies from Your Device
These shopping companies in return display ads on your screen when you visit any other site. Some or the other way the bait is running behind to catch you.
The best step is to delete cookies regularly from your device. It is also beneficial to block promotional emails or messages from online shopping companies. At times they show you that the deals are for a limited time to hurry you up on buying. Learn to exercise self-control.
Sum Up – Tips to Avoid Overspending Online
Grabbing a good deal online is good. But if you do not alert your senses at the right time online shopping companies can get their control on you.
So, the next time you visit an online shopping site never forget to do the pre-check from this list. Reminding yourself of your financial goals can save a lot of money and regrets too.