Having a financial goal is a great motivator to stay within your means, but sometimes even the most careful people can overdo it while shopping. Here are some reasons why we overspend.

We’re Bored

One of the biggest causes of overspending is boredom. When you’re bored you try to fill your time or entertain yourself. This could mean going out a lot, or impulse buying while online. Recognizing the problem and having the discipline to correct it will save you money in the long run.

Holiday Gifts

It may be the most wonderful time of year, but it can also be the most expensive. If you have a lot of people you want to buy gifts for, give yourself a budget. You also don’t need to impress anyone with an extra special or sizable gift way out of your price range. Presents that come from the heart, and have a sentimental value are just as good, and sometimes better, than the flashy gift in the window.

Lending Money

Helping friends is a great thing to do, but if you help others at your own expense, there is a problem. You should never put yourself in a financial hole while pulling someone else out. This is also why lending money to friends is not a good idea. Financial issues can ruin even the best relationships.

Special Offers

Discounts and sales are good to take advantage of, but be sure to read the fine print. Some stores require you to purchase a certain amount before you qualify. Also, if you don’t need something, it doesn’t make sense to purchase it, no matter how good the sale. Flashy gimmicks and deals might look tempting, but they could lead to more spending.

Now that you’ll have some extra money, keep it in a safe place that will help it grow.  Click here to discover the variety of options available to you at SeaComm. This includes regular savings, money market accounts, certificates, and more. Need assistance? Call us at (800) 764-0566 or stop by your nearest SeaComm branch location – our goal is to help you reach yours!