Wait!!! have you ever wondered why people remain poor? or why people don't live up to their expectations?, well it so simple because they Overspend and do not save. Most people are addicted to spending more than what they earn.Most people don't know overspending is an addiction.
I promise if you read this article to the end, you will realise ths will be the best way to get out of your overspending addiction.
What then is overspending?
Overspending is when you spend more money than what you can afford as an individual. overspending can be used for investment projects when the expenses is more than what is budgeted for.
Most people in our society today, people spend over the money they have just to prioritize what is not necessary, .Most people are addicted to fashion and as such they overspend just to look good and apper nice to people, also many people are addicted to various things.To some people pleasure can be an addiction and they spend more for it.
Many people with different cases of addiction.
In the same vein, Many organisations, firm or industry over spend to secure or get a project implemented.They spend over what Is in their set budget and at the end of the day, they are left with debts that they cant recover from in years to come.So it is important to spend according to ones buget.
Some say overspending is an addictive behaviour has a result of psychological dependence because the person involved spends money In order to be free from various problems they face in their life which may include anxiety or stress from workplace. Many people may overspend to impress their friends, family and colleagues.
##Reasons why people overspend.
As rational beings we are influenced virtually by all the decisions we make. Studies has shown that we do something contratry which is against our human reasons when we are in the presence people or groups.People overspend because they chose to follow what other people does or do.
Anxiety and stress
Many people Spend money to recover form their stress and hard feelings. It is essential to look into the reason behind spending extravagantly that is good to write down everything you spend money on daily baises or weekly.Doing this will give you a good patterns in spending and not to overspend.
####Lack of budget.
A budget is an essential tool that shows how we spend our money. Having the idea of budgeting will ease you the stress of overspending. When you know the limited resources you have,spending on things will be easy because of you have a budget.
When you Confuse wants and needs.
Majority of us confuse wants and needs thinking they are the same. It is true that human wants are instatible,we crave for all good things of life, our wants keeps coming but our urgent need needs to attended to. Wants keeps pressing in but we must not confuse our need with our wants.
Trying to reward yourself.
After stressful days in office doing streneous works, one might want to Reward oneself by wanting to give yourself a treat. It is great to treat ourselves but the greatest mistake you will make is when you overspend on yourself leaving nothing.
Most people like are addicted to shopping,they can use their spend their last dime on shopping,they overspend money on shopping just to show to people or friends how financial stable they are..
##Consequences of overspemding.
1.you won't be able to save
When you overspend you won't have savings,because of the addiction of overspemding you won't be able to have a save for the present and even future.it is essential to cut down the way we spend so has to have savings.
2.You will be poor: since you overspend and you don't even have a savings,then you will be poor except you change your decisions over spending more on a particular thing,it is important to cut down the way we spend so we won't be poor.
Many people become depressed because they have live an extavegant lifestyle leaving them with no means of survival,they become depressed and this depression may lead to death.
4.Such person will not be contented,when you overspend on things you will never be contented with what you have,you will always want to do everything within your power to get anything you wish for because you are not contented such as stealing, internet fraud,prostitution,etc.
Inclusion,when we over spend more on things that are not in our budget we are liable to be poor,not contented,be in anxiety and this might lead to death.
As individuals it is important to cut down our spending on our human wants,we should desist from addictional shopping,no body is saying you should not to spend on your self but their is also a saying that says too much of everything is bad.in this bid it is essential we do everything moderately.
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