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5 Signs You Are Spending Too Much Money

It’s tempting to splurge and keep living large, but everyone should save and invest some of her funds for the future. ⁣Do you often find yourself stressed out about money? Do you see yourself spending too much money? You don’t want to get into being financially stressed out, as it can really weigh you down. Always ask your self am I spending too much money?

Spending too much money unnecessarily is something that you should be worried about.

You will be left with nothing for savings when you spend too much money, so know-how and what to spend on should concern you. One of the main concerns is the inability to cover an emergency or unexpected expense. Of course, some aren’t making enough money. And others who live above their means, even if they don’t realize it. 

Whether you have enough money or not, to live a comfortable life is to know how to spend it. You need to know if you are overspending and how to control and manage your finances. These signs will let you know if you’re spending too much money so you can take a deep look at your expenses.

Use the information below to help you determine if you are spending too much money. 

You don’t have any savings


You go to work all the time and get a paycheck, or you are a business person, but you don’t have any savings; it’s a sign that you might be spending too much. 

Some people have no emergency funds, barely any savings, and if it wasn’t, because your employer automated payments into your pension fund. You wouldn’t have anything save towards pension either. When there is nothing left on your account as savings by the end of each paycheck, it means that you are not saving for the rainy days.

Open a savings account and put a little amount into it on every paycheck. It might look small to you, but I bit you as time goes on, you will appreciate it. Don’t live paycheck to paycheck.
Start investing small amounts of money, even spare change, with Acorns.

You don’t know your account balance

Spending Too Much Money

You won’t know the balance in your bank account if you’re always spending money on something. You might also be living in denial about how much you really have. Always ensure you check your account balance once in a while to know how much you have. Some people are even scared of checking their account balance as they don’t want to know how much is left.

Not checking your account balance will do you more harm than good. For example, If you have $300 in your account and swipe your card three to four times, you should check how much is left even though you feel you know.

If you check and found out you only have $50 left, at that point, you can decide to stop shopping until you get another cash or until payday. Not checking your account regularly will not help you; rather, checking it will limit your spending. 

You are always giving yourself a treat

You are always giving yourself a treat

Self-care is awesome, but giving yourself a treat every other day is a sign that you’re overspending, plain, and simple. It sucks missing out on fun adventures with your friends and family but don’t overdo it. A fun treat now and then is fine. But if you’re guilty of impulse shopping, it’s time to clamp down. Shopping sprees can quickly spiral out of control. Before you know it, you’ve blown through whatever money you had for bills and other necessities.

As you build your budget, be sure to include a little fun money each month. Otherwise, stick to your budget. If you find that you are frequently spending too much and you can’t seem to control it, take the steps now to determine if you need help for a shopping addiction

You buy things you don’t need

spending too much money

When you find that your home is filled with stuff you don’t need and will not use, it’s a clear sign that you need to stop overspending.

Just because a product is on a discount shouldn’t mean that you need to buy more of that. If this is a need and you use it constantly, then stacking up is a good way to go. But if you buy more than what you need, then it means that you are overspending.

Some people think that because something is on sale, then they need to buy more. The reality is, if the product is on sale, there’s a high possibility that the product will go on sale again in the future. The key takeaway here is to buy what you need.

Don’t go overboard, and don’t go underboard either. You will be alright when you are spending money on things you need. In short, buy what is you need, and you will be alright.

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You don’t know how much you spend every month

spending too much money

If you can’t track where your money goes every month, you will probably be going overboard with spending. Watching the way you spend your money is a good way to keep track of your finances.  A good way to start is by writing everything down and stick to your budget every month.

The envelope method is an effective and easy way to stick to your prepared budget strictly. Put the money in an envelope and keep it aside and only open the envelope when you need it.   There is no time like the present; try tracking your money today. Eventually, look back at old bank statements at least 4-6 months to date and then identify where your money is going.

 When you can locate where your money is going, you can start finding ways to cut back on purchases and save money. Ashley Feinstein, the founder of Knowing Your Worth, said, “I recommend that every client keep a money journal for at least a couple of weeks to get conscious about where their money is going.”

Final thoughts

Sometimes, the reasons that people spend too much money cannot be easily determined and some reasons are just too obvious. The best thing to do is to stop asking yourself some questions: Do I really need this? What do I need it for?

While spending money may bring you happiness, it’s important to budget your finances so you can have some savings for the future. While there are plenty of ways to spend your money, it doesn’t necessarily mean you should. Only spend money when it’s necessary, not because others are doing so. 

It’s never bad to look at your spending habits and patterns because those will tell you where and if you are going over what you can afford. Remember any financial mistakes, even small, when left unchecked and corrected, can damage your life and future. Look for the things you spend too much money on and eliminate them. Always stick to a budget and never renege on it, stop spending once you go above your budget. 

Are you spending too much? I want to hear about your spending habits.

Images: Canva

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  1. Valentina says:

    This is such an interesting and helpful post. When it comes to spending money, I feel like I go through different phases. There are times when I spend hardly any money and then other times I spend too much 🙈

      1. Great tips! I need to share this with my mom who needs them badly lol 😆

        1. Yes, show it to your mum.. lol.. Glad you like them. Thank you for reading Anastasha!

    1. Thank god I’m not spending too much now I will show this post to my mom…

      Read my blog and please share it→

      Marry Christmas☆☆☆☆☆☆☆☆

  2. I remember being annoyed with myself because I hadn’t bought anything from a shop that was offering me a 10% before it ran out. Then I realised that I had saved more money by not buying anything. It was a good change of mindset.

    1. wow, at least you didn’t continue and save you some money… Glad you stopped by

      1. Really enjoyed the information you provided on how we sometimes handle our money and spending habits. Hopefully these 5 steps can set us on the right path.

  3. This is so important for everyone to read at whatever age! I used to suck at tracking my spending and just buying whatever I liked until I would get the email that my account was over drafted, since changing methods and the envelope one is a great method to keep accountability, everything has changed.

  4. This is great info! I sometimes get caught up in the TREAT YO SELF trap too much, but mostly keep an eye on where my money is going and try to be responsible!

    1. Hi Niki, We can give ourselves once in a while but we need moderation.. Glad you like it and thank you for stopping by

  5. My favorite was #3 – not knowing your balance. Avoiding your spending is the biggest sign that you are spending way too much. Thanks for these tips. Very timely.

  6. I usually don’t ask for a receipt, but this month I am. Not only are there the monthly expenses but then there is Christmas.

    1. Yes, Ashley, more spending during the festive season but we have to use moderation.

  7. Love these tips. I used to be like that. All of these signs applied to my former self! Then I got sick and tired of being sick and tired and finally got our financial house in order. We paid off $137,000 in consumer debt in a little over 4 years. Thanks for a great post!

    1. Congratulations Margaret on paying off your consumer debt. Keep winning and thank you for stopping by.

  8. Hi! Thanks for this helpful financial post! I have my budget and spending pretty under control, I know where my money goes. The problem I am having is that I spend too much on groceries and I cannot seem to get the cost down. Any suggestions?

    1. Agree with you on the groceries, it’s so difficult since we need to eat to survive. At least you can control the others.
      Check out my post on money-saving apps, maybe that can help.. Thank you for stopping by Alison!

  9. Good reminder to watch our expenses, especially during the holiday season. I like to buy gifts, a little too much 😀

  10. “You don’t know how much you’re spending every month.” This is huge. I’ve started being more intentional in tracking my expenses. It’s surprising what you’ll learn about yourself once you’ve gone back to analyze your spending habits!

  11. I usually don’t check our balance. Usually, I try not to spend much at all which leads me to feel like that there’s not enough. This is definitely bad because I result to using my credit cards creating debt for myself which sucks. I’m slowly trying to get rid of that habit so I don’t have to stress or worry about that anymore. Thanks for sharing.

  12. The savings is a huge indicator! If you have none it’s also the indicator that any crisis that comes along will be ten times worse 🙁

  13. I feel this post definitely resonates with me. I tend to be a bit excessive with spending money. I know it may sound bad, but I tend to splurge on things that I need when I have the extra money to do so. However, I want to be more mindful of my spending and savings ♥️

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