Spending Like There’s No Tomorrow

Remember this post about my 2015 de-cluttering challenge? Well, that was a big fail. Somewhere along the way, my husband and I started spending like YOLO type of people. A large part of it was to reach a maximum spending on a new credit card to get rewards — something crazy like spend $4,000 in 3 months.

I can also blame this post “Stop Wasting Time on Minor Life Decisions” from I Will Teach You To Be Rich. It basically says that people waste too much time overthinking every little purchase. Since I’ve spent time comparing costs on toilet paper, I think I definitely fit into that category of people who waste time on minor decisions.  After reading this, I decided to spend less time comparison shopping. That’s not the bad part. However, I’m not quite sure why that this new habit was accompanied by a desire to hit the “buy” button more often.

I’ve just been hit with the new credit card bill.  Along with big costs like auto repairs, we’ve ‘cluttered’ our house with new clothes and shoes for everyone, emergency flashlights, a fire extinguisher, picture frames, chalkboard stickers, vacuum cleaner, motorized hair clipper, and a stockpile of household paper goods.

How do you stop the downward spiral of overspending?

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7 thoughts on “Spending Like There’s No Tomorrow

  1. Because having to decide on things slows down your spending. You get decision fatigue and you don’t want to shop anymore until your willpower increases again. The book Willpower talks about studies that researchers did on this idea– people get tired of deciding which thing to buy, even people who love shopping.

    Seeing that big credit card bill and watching my checking account drain are pretty good ways for me to decrease spending. That’s why I used the opposite a few months ago and transferred a ton of money to checking when we first moved out here, so I wouldn’t feel bad about spending so much money. It worked a little too well though and we are out of that additional transferred money as of this month. But I think we’re also done with the really big purchases too and my paycheck will start up again in October, even if it’s much smaller than usual since I’m on half-pay. Plus keeping up with our excellent CSA has really damped down on restaurant spending.

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