I'm a spend-a-holic...?

Question

I spend way to much money! I have an ATM card that gives me access to my savings and sometimes I take out a lot! Plus I am a terrible saver! HELP!!

Answer 1

It sounds like you already know you're a compulsive shopper. This assessment is designed to help you determine if you have this problem, but maybe if you learn these symptoms you can protect yourself from some of them or at least recognize them earlier and take action to stop yourself.

http://behaviorhealth.bizcalcs.com/Calculator.asp?Calc=Compulsive-Shopper

As with most bad habits, it's best to find something new and different than what we usually do and avoid the places and situations that trigger our bad habit. Good luck!

Answer 2

Try putting your savings in an account you can't access by ATM, or that charges you huge fees if you try to draw money out early, like a bond or CD - that will make you think twice about spending it.

Cut up your credit cards and cancel the accounts before you get into huge debt. Take a copy of the statement or receipt that causes you to cringe the worst - $300 for a pair of shoes you never wore, for example - and post it where you'll see it every day or wrap it around the ATM card. Remind yourself that nothing you can buy makes you feel as good as knowing you can look at your bank statements without fear.

Also, get down to your local library tonight and start checking out personal finance books - they can be wonderfully empowering and inspiring, and most are written in simple, easy-to-understand terms.
-The Complete Idiot's Guide to Personal Finance in your 20s and 30s
-The Complete Idiot's Guide to Managing Your Money
-“Smart Women Finish Rich” or “The Automatic Millionaire”, by David Bach
-any Suzy Orman books

Answer 3

in order to help yourself save you must first identify the psychological reason why you spend. you may not be happy with someone, something, or a situation. shopping then is an expensive form of entertainment that only delays you from facing your reality.

Answer 4

You have the power to change. Come back to reality. List your bad spending habits and (as an adult) decide to stop this self destructive behavior.

You must create your own plan. It will be the best tailored plan (for you). As you put it into action your self esteem will increase... which in turn will help you further meet your financial goals....................

YOU HAVE THE POWER. BE REAL WITH YOURSELF. STOP THINKING YOU CAN'T CONTROL THIS.

Answer 5

ok im a spend-a-holic too.i know it sooo sucks like just get a realy good friend that you trust and ask them to like come with u or like keep a sertain amount of ur money.Ask them to be ur like financial advisor and limit the ammount u spend k .keep in touch

Answer 6

all those answers are good. but why do you choose to spend? do you think you have to look good to impress someone and if you don't have the latest stuff its not enough. In ten years, who cares what you were wearing or what you had. what people remember is what you say and things you do.

Answer 7

You're not the only one.
Only solution is to get a better paying job.

Answer 8

Consider yourself lucky that you do not live paycheck to paycheck. I wish I had money in my savings.

Answer 9

try to limit yourself to a certain amount of money per week. if you cannot stick to this, then go to your local bank, talk to them and see if they can limit the amount of money you spend each week : )

Answer 10

put your savings in a mutual fund or an cd