Overspending habits: What do you overspend on?

Overspending Habits

Overspending habits: What do you overspend on?

Most people have shopping habits that they may or may not realize. Breaking these habits may have the potential to save you lots of money because you’re probably overspending. These habits can be broken but breaking them can be mentally tough.

What I mean by mentally tough is that they’re overspending habits that you’ve either grown up seeing or have developed over time without realizing.  For me, it’s buying books. When I first started working I would read a book every week or two, now I’m lucky I have the time to read one a month.  But my biggest issue is that I for some reason don’t walk 4 blocks to go to my city’s public library where they would have the majority of these books to borrow for free. Something which not only benefits me by saving me money, but also walking there would be good exercise and it would reduce waste in the environment. Yet I always go online and order a brand new book for myself that will be read once and sit on a bookshelf for years until I give it away to a friend that may notice it when they visit.

Literally(no pun intended!) I could have gotten in mildly better shape and saved what is probably now thousands of dollars by walking up the road and signing up for a library membership. What makes this even worse is a friend’s mother works at the library and he recently informed me how they have an e-reader program where you can download the books at home. So I really only had to go to sign up once and I could download them all to my ipad which is probably just as easy as buying them online.  I don’t even have a good excuse on why I wouldn’t do this, it’s so convenient and easy.

Everyone will have something like this, I have a family member who likes to have the best of everything. If they’re going to buy some thing it will be the best in the store even if their needs only require the entry level product. For example, their ipad, used it to surf the web and go on facebook, maybe read a few emails and hopefully read my blog! But they would buy the ipad with the largest memory (even though half would be never be used).

Other habits may include buying new when a used product is more then sufficient or buying when renting would be enough.  Another one for me is my vehicle, I was smart enough not to buy new because a new car on average loses 11% of it’s value when you drive it off the lot. What I didn’t do right was think if I really needed a vehicle. Sure I like to drive a lot, but I drive less than 9000km each year, which ends up costing me $1.86 per kilometer.

So there’s two of my biggest overspending moments, what are some of your habits you’re hoping to break to save more money?

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