Having a spending problem is at the root of many people falling into deeper and deeper debt.
Regardless of how much money a person makes, it is never enough because they will continue to spend every penny they make.
While a problem such as this may take professional counseling to cure, we have some ideas that may help.
It may sound a bit childish, but someone who constantly spends all of their money needs to literally be put on an allowance.
It is time to turn over the budgetary duties to someone you can trust to remove yourself from the equation.
Having your spouse or parents handle the bills will restrict how much money you have to spend. It will also help to ensure that your bills are actually being paid.
In addition, it is time to cut up any and all credit cards. If you do not have them, you cannot use them. There is not necessarily a need to cancel the accounts, but restricting access to them is a must.
At some point, control may be able to be maintained and one or two of the best accounts can remain open for times when a credit card is absolutely necessary.
Friends and other family members will also have to be put on alert. Because money will be limited, a natural reaction would be to borrow money.
However, this is merely just another form of credit and will continue to make your debt load deeper. You are going to have to learn to live within your means, and getting extra money from family members and friends will not help.
Spending money and shopping can become addictive for certain people. It is nothing to be ashamed of, but it is a problem that must be addressed.
If you cannot learn how to do this on your own, enlist trusted family members and friends to help. If the problem is still out of control, seek professional counseling to find your way out of debt and to kick your spending habits.
