12 Reasons Why It’s SO EASY to Overspend (and how to save more money)

There are lots of reasons why so many people overspend. Today I’m going to explain the psychology behind 12 of those reasons and help you overcome overspending. Identifying these reasons for spending too much money can help you improve your financial life.

Plus, I’ll provide quick tips throughout to help you save more of your hard-earned money and share a few personal stories.

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⏱️ TIMESTAMP
0:00 Let’s talk overspending...
1:18 1. Special occasions
2:31 2. Present bias
3:38 3. Hard cash vs. credit
4:46 4. The "what the hell" effect
5:41 5. Retail therapy
6:50 6. Self-justification
8:13 7. Shopping addiction
9:04 8. Making comparisons
10:19 9. The halo effect
11:51 10. Decision fatigue
13:00 11. Social pressure
14:14 12. The curse of mental accounting
15:35 Recap
15:52 Which do you want to work on?

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📝 RESOURCES
Psychology Today: https://www.psychologytoday.com/us/blog/science-choice/201801/10-reasons-why-people-spend-too-much
The Conversation: https://theconversation.com/how-to-avoid-overspending-uncover-the-psychology-behind-why-people-buy-108680

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🤔 Which reason for overspending do you want to work on?

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