Avoid Overspending With Credit Cards


Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » Research » Guides » Cardholder Benefits » Avoid Overspending With Credit Cards

Avoid Overspending With Credit Cards

The content is accurate at the time of publication and is subject to change.

Overspending is a real issue when it comes to using a credit card. Credit cards are hard to maneuver, because they`re resources aren`t finite. Sure, you may have a spending limit, but all of it is money that you don`t own. Overspending can occur when you put everyday purchases on a credit card. Imagine this; you go into a grocery store with the sole intent of purchasing eggs and milk. That shouldn`t cost more than $7 right? Wrong. Next thing you know you`re in the pastry aisle and disbelievingly you`ve racked up $120 in Nutri-Grain Bars and Biscottis. Maybe you don`t overspend at the grocery store, you might overspend when shopping online or when you go out on dates, whatever the case may be. We`ve all been there and done that.

Here are some ways to nix overspending with your credit card.

  1. Ignore the Options. Paying in the digital age has become so cumbersome. You don`t know which purchase is better suited for a greenback, a debit card, or a credit card. When consumers use their credit card, they are more likely to overspend. This is because the consumer no longer is thinking about how much the item costs, but rather is thinking about how much they want they item. Credit cards allow us to overspend so easily because consumer can still hold on to the cash in their purses and temporarily forget about paying the price.
  2. Stop Buying in Bulk. In theory, this may seem like the perfect way to budget expenses. But when you buy items in bulk, you tend to consume more. And when you consume more, you end up costing yourself more money. Sure when the math is done, buying 68 of a certain item will lower the price per unit, but in the long run it can end up costing you more money.
  3. Focus. Pay attention to the things you`re buying. A lot of stores put on sultry music to subconsciously entice shoppers to overspend. Don`t fall victim to this trap by not becoming too comfortable in a retail environment. "Music tends to take the consumers eye off the prize, and allows them to relax in a purchasing setting. If a consumer feels too comfortable, this may lead to bigger purchases and more credit card swipes," said a representative at Credit-Land.com. Other things that can cause you to lose focus are shopping with a friend who is prone to overspend, shopping to waste time, and even dieting. Not eating properly before going shopping can cause consumers to overspend on food and other retail expenses.
  4. Bargain-Hunting. Ironically, being a super-duper bargain-hunter can actually backfire if you`re trying to minimize your spending. Shopping on sale and clearance racks is ok with moderation. If you are always bunkering through the hangers in the clearance and sale sections, scrounging for the best deal, you might pick up a couple bad deals. When shopping on sale racks, consumers feel that if they don`t buy the item now, they will never see the item again. While this may be true, it`s not a good enough reason to make the purchase. Think twice when shopping on sale racks and make sure you need the item, and you don`t just want it because it won`t be there tomorrow. Don`t spend money foolishly and avoid abundant purchases.

Overspending can cause a lot of financial woes and headache, if you take precautions you can actually reduce your overspending habits and keep your purchasing to a decent level.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Related Research:

Autumn 2018: Best Rewards Credit Cards for Thanksgiving Shopping

Autumn 2018: Best Rewards Credit Cards for Thanksgiving Shopping

Posted: November 8, 2018

Thanksgiving is coming, and whether you are hosting a meal or coming as a guest, your spendings are going to accumulate faster than you can notice. A holiday feast is a costly matter – each year Americans spend around $50 on a Thanksgiving ... Continue reading
The Best Credit Card for Earning Cash: Discover it® Cash Back

The Best Credit Card for Earning Cash: Discover it® Cash Back

Posted: November 2, 2018

You’ll have hundreds of dollars in your pocket in no time because you’ll earn money back on every purchase you make with this card. There are no restrictions on the amount of cash back you can get, and Discover even matches every penny you ... Continue reading
Top 5 Cards for Travel from Our Partners: Autumn 2018 – Expert’s Choice

Top 5 Cards for Travel from Our Partners: Autumn 2018 – Expert’s Choice

Posted: October 10, 2018

Nights are drawing out, the wind is colder every day and you already feel the lightest breath of winter on your face - autumn is here. Holidays are over, kids are back to school and all you are left with are hefty holiday bills that you ... Continue reading
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!