Alright, let’s admit it together. We have all had those moments when we look at our bank accounts and wallets and wonder where all the money went and how we are going to manage for the rest of the month. This is especially true in the heady days when we were in our twenties and had our first ‘real’ jobs. And for some it may still be true.

While there are people who know exactly why there is more month than they can afford at the end of the money, most of us genuinely haven’t the foggiest about where the money went. It is clear that there is some overspending happening here, but let’s spell it out so you can see where all your cash disappears to and how can you block those ‘leaks’.

Keeping up appearances: We are all guilty of trying to fit in with a certain class of people or aspiring to live a certain lifestyle. It becomes a problem when you take your $4000 salary and spend it buying designer clothes and bags-in Singapore!! Child, let me tell you something, it will not matter that you have a pair of Manolos when you have no food in the house. Please, live within your means, okay? You will get to where you would like to be faster if you were not starving all the time, right?

Commitment to bad buys: This is the strangest thing; that people would stick with a bad buy because of the idea that they have already spent so much. Do you want to spend or should I say waste more money or what? Remember the old country tune? ‘Know when to walk away’. Just cut your losses and walk away because clearly putting more money is not making things better for you.

Discount dash: People in Singapore and really anywhere in world love to take advantage of a discount even when they really don’t need whatever is on offer! And no, you will not find a use for it eventually if none comes to mind now. Think about what you are buying and whether you presently need it. We will not have any of that mindless shopping, alright?

Shopping therapy: Fact is that the more depressed you are, the more you tend to spend. What you are looking for is not the stuff but the feeling that getting all this stuff gives you to relieve the depression. Solution? Find another outlet other than your wallet.

Curbing overspending is about being deliberate and aware of every expenditure so wake up and pay attention!