5 Tips to Avoid Overspending

Even when you’re not overspending, is your wallet (physical or digital) currently flush with cash or empty? Picture this scenario, you enter your local supermarket for your weekly shopping. You find yourself filling the trolley with items that catch your eye – without even consulting your shopping list. You’ve gone over budget but rationalize the extra expense with, “I deserve a treat”, “I might not find it again” or “It’s on sale”.

The temptation to impulsively spend is even greater with advent of mobile shopping and food service apps – everything is easily available with a few swipes on our phones. Now that most local apps allow for mobile money transactions, the money flies out of our wallets much faster. That is, until your next transaction is declined, and you have no money to cover the basics – food, rent, transport – that’s when reality hits you.

Here are a few tricks that have stopped me from overspending:

  1. Create and stay on budget, but earmark a small percentage of it towards fun. By dedicating a portion of your budget (maybe 1 to 5 per cent) towards fun, you can spend that money guilt-free on anything your heart desires. For myself, this translates into “emergency” cake and other deliciousness.

  2. Treat ATM cards like “Another Terrible Mistake”. It’s not easy walking around with free access to all your money, it makes spending feel harmless. I’ve made it a point to leave mine at home, unless I know what I am going to make a planned expense.

  3. Set a weekly/monthly maximum spending limit on all transactions and withdrawals. This trick has saved me many a time from making any unnecessary purchases. You can’t spend what you don’t have access to.

  4. Always take a pause before making any purchases. Before you spend any money, take some time to ask yourself: Is it necessary? Do you need to have it right now? Can you afford it without any extra expense to yourself (without going into debt)? I do this in all my purchases. With online shopping, I find it also helps to fill my cart with all that I desire, but only check out a week later, after I’ve made all three considerations. By then, the euphoria has been cooled by the harsh reality of my account balance. Most times, I don’t really need anything.

  5. Stick to the shopping list. This will help you remember that you don’t always have the luxury of spending on a whim. A bonus tip, when you enter the supermarket, only pick the items on your list, pay for them, and leave them at the luggage counter. Only then can you go back to browse (window shop), while making a new list for your next shopping trip – keeping an eye out for sales, discounts, or items you need but can’t afford right now. I’ve found that this keeps me from spending money I don’t have, and helps me plan better for future expenses.

We can all agree that spending money is fun, and we know that being broke is not. The goal isn’t to stop you from enjoying your hard-earned money — but for you to spend, responsibly.


How do you stop yourself from overspending? Share what has worked for you here in the comments, DM me – @KagoTMD on TikTok, Instagram and LinkedIn. I really want to know.

If you're interested in watching full video essays of this and other topics I've discussed here, visit and subscribe to my YouTube channel.

Let’s build your future, together.

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