Ooops I’ve done it again! Why we overspend.
New Year. It’s never a good time for those who’ve overindulged during the festive period, whether on food or in terms of finances.
It can be hard to avoid the allure of an impulse purchase, whether it’s a bargain in the sales or an online offer that’s just too good to miss. Equally, impulsive purchases that promise the Dopamine hit of a sugar rush are just as difficult to resist when we’re caught off guard. Ultimately, it can be far too easy to spend beyond our means, leaving us with little cash at the end of the month, not to mention a credit card and waistline maxed out to their limits.
Even the most financially savvy amongst us can occasionally waste money on unnecessary items. However, just like any destructive behaviour, understanding the why and how behind overspending can help us break the habit. As a chartered financial planner, and also a qualified nutritionist, I find the parallels between the two uncanny.
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