Overspending: Money and Mental Health Part Il

Overspending can happen for different reasons, such as: 

• You might spend to make yourself feel better. Some people describe this as feeling like a temporary high. 
• If you experience symptoms like mania or hypomania, you might spend more money or make impulsive financial decisions. 
• You might have an addiction or dependency which makes you spend money. For example, if you are addicted to gambling. 

Here are some tips that might stop you from overspending: 

• Tell someone you trust about the warning signs you might be overspending, or signs you’re struggling with your mental health. 
• Give your cards to someone you trust or put them somewhere difficult to access. 
• Don't save your card details into websites. 
• Delete apps where you usually overspend, or apps which encourage you to spend. 
• If you get tempted by adverts on social media, limit how much time you spend on it. 
• Find ways to delay purchasing. You could tell yourself, "I will buy this tomorrow if I still feel like it then". You could take photographs of the things you want or write them down in a wish list. 
• Distract yourself with something else that makes you feel good.
• Consider telling your bank that you have a mental health problem. They may be able to add a note to your file to look out for unusual spending. 
• Some people find it helpful to avoid credit cards completely.

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