How many times have you strolled through the mall, after reminding yourself endlessly that you’re just there to window shop, and left with two bags of items and a dent in your bank account? This phenomenon is known as overconsumption, which refers to overly buying items they don’t require, without being consciously aware of it.
People may overconsume due to impulsive spending habits, an attempt to keep up with trends, or just general influence from social media. These habits aren’t just unnecessary and bad for the environment, but it’s an easy way to drain all your money. If you find yourself being an overconsumer or your bank balance seems to easily disappear, here are some ways to minimize your spending and consumption:
Make mindful spending decisions
One of the easiest ways to spend a lot of money is by buying everything you see. You may not even notice how much you spent until you get home and finally check your receipts. When going to the mall or exploring a new city, it’s easy to fall into the trap of buying everything that catches your eye.
Before buying, try to think about if you will actually use the item. For example, if you want to buy new clothes, think about how the piece of clothing will work with the rest of your closet and clothes. Think about if it matches most of your other clothes and if you could create multiple outfits with it. Not only will you save money, but you’ll also end up saving space in your room by avoiding clutter.
If you feel unsure about your decision, try and get a second or third opinion. Sometimes, other people can help you in making better decisions. Another option you can try is leaving the item and coming back to it at a later time. Anywhere from half an hour to a few weeks, depending on your situation. If you still feel yourself wanting to buy the item, then go ahead. If not, then take it as a sign to move on.
Thrift or borrow items
A way to help reduce waste when shopping would be to shop at a thrift store. Some places around the area include Goodwill, Habitat for Humanity, and Hope Nevuo Thrift. Shopping at a thrift store or second-hand use store helps reduce waste and give used items a second chance. Another positive is that you can also buy items for much cheaper.
Rather than buying something to use it once and then collect dust, you can borrow it from someone else. This also helps you save money in the long run. The Milpitas Library offers a wide range of items to be borrowed, from household appliances to technology to hobby kits.
You can also ask your friends and neighbors if they have something you need to use. If you want to try out a new hobby, for instance, don’t just jump all in and buy every single supply you need. Instead, try borrowing a friend’s supplies and try out your new interest.
For example, if you want to learn how to paint, borrow a friend’s painting materials and try it out. If you want to learn how to play tennis, find someone who plays the sport and tag along with them. Try out the activity for a week. If you feel confident in pursuing this hobby, then go ahead and buy everything. If not, you just saved yourself a lot of time and money.
Add a spending limit
Keeping a budget will also help you consume less goods. Every time you go shopping, give yourself a budget and try to stick to it. If you feel ambitious, try to limit yourself from going out and spending money every single day. Aim to go out and spend money once a week rather than every day if that’s your habit.
Be resourceful and use things you already own
Oftentimes, you end up buying things you already have just because it is trending. For example, Stanley water bottles were trending a few years ago, where people ended up collecting multiple bottles even though Stanleys are meant to be reusable.
In reality, you don’t need to buy everything trending online. By the time you join in on the trend, it usually has moved on, leaving you with something you may not have really wanted to begin with.
On that same note, you don’t need to buy a drink, snack, or takeout every time you step foot out of the house. While it doesn’t seem like a lot, the price can quickly add up. If you want to buy something to eat, see if you can buy the ingredients and make it at home. Oftentimes, it’s cheaper to make it yourself than to buy it at a store. Plus, you have more freedom to customize your dish or drink to suit your own tastes.
Conclusion
In all, it’s very easy to lose track of how much money you spend. What starts off as $5 can quickly escalate to $500. All you need to do is slow down and be more mindful about where and how you decide to spend your money. By doing so you could potentially save up for a bigger and more meaningful purchase, like a new car or a nice vacation.
