Too many people are breaking their piggy banks so they can spend more than they’ve budgeted for. Unfortunately, it could lead to problems that nobody wants to deal with. Take a look at the most common areas of overspending and consider some of the ways you might keep your budget intact.
A recent survey by Clever Real Estate found that 74% of Americans admit to overspending, and many go over budget in common everyday categories.¹
Here’s a breakdown of how much people go over budget in key areas:
Travel – 18%
Think about your own budget (or lack thereof). Are you one of the 37% of Americans who overspend on dining out? Or the 29% that go over on entertainment? Like many Americans, you can probably pinpoint a few areas where you like to overindulge.
So why is it a big deal? When you spend more on shoes or movies or fancy dinners than you’ve allotted for, you could end up dealing with consequences like…
Instead of breaking the budget, break the cycle before it overtakes you. Here’s how you can start:
Talk with a personal Money Coach who can help you figure out a budget that works for you and your lifestyle. Your Money Coach can give you worksheets that help you track and categorize your expenses, so you have a better idea of how you’re using your money and how you can improve. Schedule a session with a Money Coach today.
¹ Clever Real Estate. (2024). American Spending Habits: 2024 Data. Retrieved from https://listwithclever.com/research/bad-spending-habits-2024/
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