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Signs Your Spending May Be Out Of Control

Jun 26, 2017
 

 

 

Are you a compulsive spender? Could your finances be out of control and you don’t even realize it? If so, you’re probably in the same position as millions of other people in this country. Let me give me the top three signs to which you need to pay attention.

 

1.     You Ignore Your Bank Balance

How many of us go to the Cash Point/ATM and when we’re asked if we want to see our balance decide we don’t want to go there? That used to be me so often. I used to hate that screen. I used that sheet hate going to withdraw money because I didn’t want to see that message. The same applied to receiving bank statements. I used to let these pile up in the corner because I didn’t want to open them as I knew how they would make me feel. That was the first sign that I wasn’t in control of my finances. Of course, I knew on subconscious level that things were a little bit out of control but I was still managing to buy things on my credit card so I convinced myself that, actually, things were probably fine when they really weren’t. I was building up a huge problem which then took me many, many years to unroll. So, if you’re in that position, if you never check your bank balance or never open any correspondence from the bank or credit card companies, then that’s the first thing you need to change because that’s the first sign that you might be a compulsive spender.

 

2.     You Spend On A Whim

We all do this on some level. These days there are sales on all the time and it’s very easy to pick things up and start buying them without thinking about the consequences. If you do that on a small scale, that’s one thing but quite often the problem is bigger than that. For example, for me it was technology. I was always upgrading my mobile phone or buying a new laptop or some kind of gadget that I just had to have – that’s another really strong sign that your finances are out of control. If you can buy large ticket things on a whim without thinking about the consequences then that is the second sign that your finances might be out of control and that you need to do something about it.

 

3.     You Feel You Have No Control Over Your Cash

Do you feel that you’re a bystander when it comes to your money? Do you feel that money comes into your bank account and then goes out and you’re almost powerless to stop it? Or at least, even if you know to some extent, you have an influence on your cash, it feels like it’s largely outside of your control. If so, that’ s the third sign that you could potentially have problems with your finances.

 

If any of the above points resonate with you I want you to do something really powerful today. I want you to make a commitment to yourself that you are going to take control of your finances right here, right now. Once you make that one simple commitment that you’re going to make things change, then things will happen, usually very quickly. The second thing I want you to do is to start getting a bank balance every time you get to the Cash Point/ATM. However scary that might seem, once you get into the habit of doing that you’ll begin to start picking up on the patterns that are going on with your finances and you’ll know that, for example, when you get to week three and there’s only £135 in the bank that that’s going to be a problem. Start by following those two simple steps and you’ll start to turn your finances around.

 

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