Ever find yourself wondering why it’s so hard to save money or avoid debt, even when you know you should?
Living within your means is easier said than done—especially with the pressures of modern life, where spending beyond our budget is just a click away.
Many people set out to be more financially responsible but struggle to stick to it.
The truth is, though, that achieving financial balance isn’t just about earning more or budgeting better; it’s also about identifying and letting go of the habits that push us to overspend.
Today, we’ll explore five common behaviors that can undermine your efforts to live within your means.
Letting go of these can be a game-changer for your financial health and help you build a lifestyle that’s more sustainable and stress-free.
Ready to take control of your finances? Let’s dive in.
1) Impulse buying
Picture this: you’re just scrolling through social media, taking a well-deserved break from work or relaxing at the end of the day, when suddenly an ad or influencer post pops up promoting the next big thing.
Before you know it, you’ve ordered it—no second thoughts. Sound familiar?
You’re not alone. According to research, 48% of social media users have impulsively bought something they saw online.
The convenience of one-click purchases and the influence of carefully targeted ads make it all too easy to overspend.
Here are some strategies to help avoid those impulsive online buys:
- Pause and Reflect: When you feel the urge to buy, wait at least 24 hours before making a decision. This pause can help you determine if it’s a “want” or a true “need.”
- Set a Budget for Discretionary Spending: Dedicate a specific amount each month for non-essential purchases, and track it. This creates awareness of your spending habits and helps you prioritize.
- Unfollow and Unsubscribe: If certain accounts or newsletters trigger impulse buys, consider unfollowing or unsubscribing from them. Out of sight, out of mind can truly make a difference.
- Remove Payment Information from Shopping Apps: By deleting stored credit card information from frequently used sites, you introduce a bit more friction to the buying process, giving yourself more time to reconsider.
By applying these tips, you can regain control and resist the lure of online impulse purchases—keeping your finances in line with your goals.
2) Spending to “feel better” or because you “deserve it”
Okay, I know that heading sounds harsh.
What do I mean? Well, you work hard for your money, and of course, you deserve some happiness, right?
Absolutely. But—and it’s a big but—purchases tend to give us only a temporary boost in happiness. Remember the last thing you were so excited to buy? Does it still make you happy, or has that initial excitement faded?
Even if the happiness from buying something lasted longer, there’s the financial cost to consider. Regularly splurging on things we “deserve” can add up fast and throw our budget off track.
Luckily, there are so many ways to boost happiness that are pretty much free.
Studies show that spending just 120 minutes a week in green spaces is linked to greater well-being—and that’s essentially free!
The same goes for exercise, which is a powerful mood booster, and spending time with people we love and care about.
So next time you’re tempted to buy something just because you “deserve it,” consider alternatives that can lift your spirits without impacting your finances. Your happiness—and your wallet—will thank you.
3) Paying for convenience
Did you know that Americans spend an average of $1,200 per year on takeout and delivery food?
That’s a significant chunk of change, especially when you consider that cooking meals at home can be a fraction of the cost.
Paying for convenience, whether it’s ordering food, buying pre-packaged meals, or using premium services, can quickly eat into your budget without you realizing it.
While these services can certainly make life easier, they often come at a steep price. Living within your means requires recognizing these hidden expenses and finding more cost-effective alternatives.
For example, meal planning and prepping at home can save you hundreds over the course of a year.
Saying goodbye to paying for “convenience” doesn’t mean you have to give up all the things you enjoy; it simply means making more mindful decisions about where your money is going.
4) Keeping the wrong company
Author Jim Rohn once said, “You are the average of the five people you spend the most time with.”
And when it comes to spending habits, this couldn’t be more true.
Think about it: if you’re surrounded by people who live beyond their means, often splurging on the latest gadgets, dining at expensive restaurants, or constantly shopping for new clothes, it’s easy to fall into the same habits.
You might start to feel like that lifestyle is normal or necessary just to keep up with your social circle. Over time, these spending behaviors can make it nearly impossible to live within your means.
On the other hand, spending time with people who are financially responsible can be a positive influence.
Friends who prioritize savings, find fun low-cost activities, or enjoy cooking together at home rather than always going out can help reinforce your own goals of living within your means.
I know it sounds harsh, but if your current social circle isn’t supporting your financial goals, it may be time to seek out friends who are more aligned with your values.
5) Not valuing what you already have
It’s easy to get caught up in the desire for something new, whether it’s the latest tech gadget, a new outfit, or a bigger home.
But constantly focusing on what you don’t have can make it feel like what you already own isn’t enough. This mindset often leads to overspending, because we’re always chasing that next thing to fill a void.
The solution? Gratitude.
As author Melody Beattie wisely put it, “Gratitude unlocks the fullness of life. It turns what we have into enough, and more.”
When we practice gratitude, we shift our focus to appreciating what we already have, which naturally reduces the urge to buy more.
Take a moment to look around and recognize the value of your current belongings. Maybe it’s a cozy couch you love, the laptop that gets the job done, or the clothes you already feel great in.
By appreciating these things, you may find that you’re less tempted to constantly spend on things you don’t need.
Valuing what you already have isn’t about settling; it’s about realizing that you already have enough to live a full, satisfying life.
In conclusion
And there you have it—five habits that could be silently pushing you to spend beyond your means.
By recognizing these behaviors and making a few intentional changes, you can set yourself up for a healthier, more balanced financial future.
Take it one step at a time, and remember—each positive change you make is a step closer to financial peace and a more fulfilling life.
