Is Your Spending Out of Control? Three Ways to Fix It

Whether it’s ignorance of your true financial position, an addiction or simply retail therapy, there are things you can do to address your overspending.

A young man holds his empty wallet above his head as he looks into it.
(Image credit: Getty Images)

I’ve been fascinated by “spending” recently, for some odd reason. I’ve seen its addictive qualities in many clients’ lives, friends’ lives and, sadly, even my family’s finances as well. It all seems to start the same — we buy a few items that seem harmless. Next thing you know, you are getting successive credit card bills and thinking, “Boy, this got out of hand quickly.”

The natural first question at hand is, why do we seem to spend more than we should? I’ve done a lot of reading, analyzing, self-reflecting and observing. I’ll distill it down into three main categories below. I’m curious which you most identify with.

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Andrew Rosen, CFP®, CEP
President, Partner and Financial Adviser, Diversified, LLC

In March 2010, Andrew Rosen joined Diversified, bringing with him nine years of financial industry experience.  As a financial planner, Andrew forges lifelong relationships with clients, coaching them through all stages of life. He has obtained his Series 6, 7 and 63, along with property/casualty and health/life insurance licenses.