People who overspend regularly are often trying to fill an emotional void. They get a buzz from shopping and feel a compulsive urge to keep spending money that they cannot afford.
You may feel guilty, anxious and depressed when you ring up large debts, and worry about how you will manage to pay them off. People who are in debt often continue to spend money as a form of escapism.
- Do not stay in denial about your spending.
- Keep a budget book and write down everything that you spend.
- Contact a Debt Management Centre for advice on paying back your debts.
- Do not buy things on impulse. Always think about purchases and take time to decide whether you really need it.
- Avoid shopping centres and temptation.
- Set strict limits on what you will spend each week and stick to them.