Spending Problem: How to Control Your Bad Impulse in Spending

Let’s admit it: many of us are big spenders. We can’t always control it; we’re human. Whether it’s in our genes or influenced by our surroundings, some say if you hang around thieves, you’ll become a thief yourself.

We’re all tired of our jobs and stressed. We want to take a day off or go on vacation. We want to spend on what makes us happy, but at the same time, we want to save. We’re not getting younger, and time passes so quickly that you barely notice ten years have gone by. Yet, we’re still working every day, doing the same things.

So, what did I do to control my bad spending habits? I’m not materialistic, but my problem is that I’m very generous with those close to me, especially family. Whatever they need—money, gifts, or vacation plans—I’d give it without question.

I had to reprogram myself, and my mind became at ease. I hit rock bottom once when I lost my high-paying job. I realized many people looked up to me, assuming I always had money. But as my bank account slowly drained, reality hit. Everyone I helped, even family, couldn’t help me back. A barrier of ego made me think, “They won’t be able to help me; they’re the ones who need help.”

I started studying and absorbing content about investing. I watched the Dave Ramsey Show and stopped wasteful spending. I learned to say no. I began viewing money on a weekly basis. If I save $100 a week, that’s $5,200 in a year. I became more conservative and started calculating everything.

I started learning about investing and started building wealth at 27 years old, If I max out my retirement contributions now, I could have a potential $5 million in 35 years. I became motivated about money. I learned how money depreciates over time when sitting in a bank and discovered how to invest in ETFs and growth stocks.

I treat investing like a subscription or insurance bill, setting it as a recurring payment. Whenever I saw a large balance in my bank account, I was eager to spend it on something useless. By following Dave Ramsey’s advice and other financial inspirations, I saved up six months’ worth of salary and paid down my debt, starting with small loans and working up to larger ones—the snowball effect. I realized how far behind I was financially, and it opened my eyes. Now i only eat $1 dollar Cup noodles haha just kidding.

I started unsubscribing from Netflix, Crunchyroll, HBO, and other wasteful subscriptions. I calculated the annual cost of each. For example, Spotify at $11.99 a month is $143.88 a year—money and five hours of my life down the drain.

In context, I sometimes have to sacrifice my generosity and become a little selfish to achieve success. I can’t be generous if I’m broke. I need to make money and learn about money to be generous in the future.