How To Stop Buying Stuff - Ways To Stop Overspending

If you are overspending on stuff you do not need it can be really frustrating.

You know you should stop, because you cannot afford it and you’re spending beyond your means but you can’t resist the temptation?

The actual things you are buying will vary. For me it has always been buying too many new clothes that I struggle to resist.

But it could be new tech, makeup, beauty products, subscriptions, home decor, gadgets for the kitchen or something else. Maybe you spend on some or all of these or it’s something else.

The trouble with buying endless amounts of stuff is that even if we can technically afford it, we’re still spending money needlessly on things that aren’t going to enrich our lives.

That prevents us from affording stuff we actually do need or meeting long term savings goals that could make a real difference to our lives.

If you’re spending money you don’t have then you might be struggling to cover your essential bills, not saving and worse spiralling into debt.

Cutting back on spending on non essentials is hard, I know I struggled to do it and I still have setbacks and moments of weakness. But I’m going to share some things that have really helped me.

Understand your shopping triggers

First of all you need to ask yourself why you buy stuff. Whatever it is you are buying compulsively.

A huge part of shopping is the feeling that you get out of the process. There’s a rush from buying new stuff, even before you actually have it in your hands – browsing, researching, checkout out.

All of that feels great. Unfortunately the feeling doesn’t last once the shine has gone from the new thing, and so we seek out the rush again.

Often we buy as “retail therapy”. So we shop for the rush to make us feel good in the moment. The trigger could be boredom or loneliness.

We decide we deserve a treat after a hard week. And it’s understandable that we do that, because society pushes that idea on us all the time, that shopping is beneficial to give yourself a boost.

Or your trigger could be that pressure to keep up with the Joneses or you succumb to the pressure to get the latest stuff the latest trends – and social media has made it harder than ever to resist the pull of hyper consumerism.

There’s always a new version of the thing you just bought – a new iPhone, a new laptop, the latest trainers everyone is wearing, the new style everyone has converted to.

As part of these things you may be justifying your spending by convincing yourself it’s going to be the BEST thing ever. The new jeans are essential because you may have three other pairs but this pair is a slightly different shade. Or the latest moisturiser is essential because it’s the only way you’ll achieve perfect glow skin.

Or it’s in the sale, which means if you don’t get it now you miss out. There’s a reason outlets hold sales all year round, it works to get you to part with your money.

This is most definitely me – I’ve bought so much ultimately useless stuff over the years convincing myself I NEED it because it’s the best thing ever.

I failed to recognise it’s a want, not a need.

Do the math

Once you’ve identified the reason why behind your non essentials spending habit, then it becomes much easier to formulate a plan and take steps to change that habit.

Going cold turkey is not necessarily the answer here. Cold turkey, or crash budgeting, like crash dieting, does not work. Just like a no spend month isn’t going to resolve a long term habit of buying stuff you do not need.

What you want to do is look at your budget and ensure you are fully aware of how much actual space is in your budget for “fun” spending.

Take a look at what you are spending on non essentials and face the reality of that. This helps to take a step back and analyse the differences in your budget between want and need.

It can help to do the math and add up what non essentials are costing you in the short and longer term. £20 a day on needless stuff adds up.

Let’s say your spending on clothes every month is £200. That’s £12k in 5 years. What could you do with £12,000? Probably quite a lot.

Are you even still wearing every one of those items after five years. Or even one year.

Set a budget

Figure out what your savings goals are, how much you need and what is a realistic amount to set aside each month to meet that goal.

A budgeting rule many people use is the 50/30/20 rule. Under this rule 50% of your income goes on your needs – mortgage, bills, groceries etc – 30% goes on wants and 20% is on savings.

Now you don’t have to stick to this division of income hard and fast. Say your needs spending requires 60% of your income, then you adjust the numbers accordingly, with say 25% on wants and 15% on savings.

Incentivise your savings by being crystal clear on what it is you are trying to achieve. A bigger house, a boosted pension pot, more money in your kids savings account for their future?

Instead of a rush from buying, look for a rush from building a savings pot. No new stuff rush feels as good, or lasts as long, as having money in the bank to pay for what you genuinely need.

Budgeting is not a one-off performative exercise, it’s a longer term routine that can help you kick the impulse spending habit.

Set a waiting period on purchases

Wait for several days to consider whether you actually need something before you go ahead and buy it. Some people wait seven days, others as much as 30 days.

This gives you a chance to ask yourself some crucial questions about the purchase that help you determine whether it is a need or a want:

Why you are buying this?
Is it actually solving a real problem for you?
What purpose does it serve?
How many times will you actually use or wear it – what is the cost per use?
Do you already have something similar?

Introducing a waiting period on any non essential purchase so you can ask yourself these questions properly, without justifying the purchase in a snap judgement.

Create friction to stop impulse purchases

Next there are some very practical things you can do to stop yourself spending. These things create friction in the shopping process that can force you to remember the waiting period and not buy in a split second decision.

Try these things:

Delete card details on devices. This means they do not auto complete when your trigger finger is about to click buy now.
Unsubscribe and unfollow the brands that tempt you.
Change your Facebook ad settings. Head into your Facebook settings and then ad preferences, now you can tell Facebook to stop showing you ads from certain brands if you find them too tempting.

Shop your existing stuff first

When we have become used to the rush of having something new and the lovely shine on that item, we then stop appreciating the things we already have.

So if you have an event or holiday coming up, take some time to remove clothes from your wardrobe and drawers and really look at them.

This is a good chance to also declutter the stuff you won’t wear, and take a closer look at things you’ve not worn or rarely worn. It can be a good reality check.

Remember, this isn’t about removing all fun spending, it’s important to leave room in your budget for fun spending where you can.

And it’s also important that you do not beat yourself up for your spending habits. We live in a time where consumerism is celebrated and encouraged. So don’t fall into a trap of believing you are bad with money.

If you need more ways to saving money then check out these frugal living tips.