Here’s why you should be scared of overspending this holiday season

crying cardboard man surrounded by ghostsYou constantly get some great tips on spending wisely, but putting those tips into action is a little difficult. You tell yourself that you only live once and a little indulgence won’t hurt especially if it’s during the holiday season. The result is some overspending and once the euphoria of the holiday fades away you are left with the stress of figuring out how to get more money. You may also feel like you have let yourself down by not using all the great tips.

I don’t have any new tips and tricks you can use to avoid overspending this coming holiday season because guess what, you may read these tips, like them, but never implement them. Maybe you just have that thing that draws most of us into spending a little bit too much (we are only human after all, can’t be blamed). I’m just going to tell you two reasons why I think you should be afraid of overspending this holiday season and hopefully, these will keep you from doing the deed or they will at least make you pause and think twice.

1. If you are in the habit of overspending, money will always rule you

Today it’s this holiday season, tomorrow it’s another holiday season, then there are those hot deals where you would clear out the store if you could, and then some promotions are always close behind.

There’s always a reason to spend and most of the time the spending is unnecessary, but here’s the thing; do you work for your money or your money works for you? If you find yourself overspending, then you are probably working for your money and your money is ruling you. This is because once you realize your overspending mistake you will feel guilty with maybe a touch of stress that will disrupt your life. In extreme cases, the results of overspending are dire and definitely not a laughing matter.  If you plan your spending and you keep it within your means, your money works for you and it brings you no grief because you are in charge.

So I ask you this, do you want to be at the mercy of your money?

scared boy running

2. If you overspend, you won’t go as far as you should

Live life to the fullest. This line is thrown around all the time, but how many times do you actually really think about it? There will never be any ‘fullest’ if you are in the habit of overspending. Wise people know what to spend and when to spend and on the other hand, the not-so-wise spend because it is time to spend. The result – the wise are successful, they have money chasing after them and they end up with more to spend while the not-so-wise are always chasing after money. The wise go beyond limitations and the other bunch is limited by the financial constraints, leaving no room to accomplish a lot of goals.

I’ve been doing a bit of reading and it looks like another recession is almost here. With some overspending and a little bit of bad luck, you are bound to land into some pretty rough times (don’t say I didn’t say). Overspending usually has some debt in the works and this is a bad news if the recession comes. Word on the street is that some wise investing, saving, and elimination of excessive debt should go a long way in protecting you from the worst in case of an economic downturn, so do keep that in mind before you go overspending this holiday season.

I’m not here to tell you what to do (wink, wink)…

That’s pretty much it, and I hope you see the picture. I’m sorry I had no great insights into how you can skip the overspending, but I hope you now see the repercussions if you do decide to go down the overspending route – the call is yours.

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