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Overcoming Overspending

Published by Henry Gibson-Garcia on

Dear Friend in Finance,

I’ve been noticing some concerning spending habits lately. It’s almost compulsive—like I can’t stop myself from shopping, even when I know I shouldn’t. I’m worried that I might have a bit of a spending habit issue, and I don’t want to derail my financial progress. How do I get a handle on this before it spirals out of control?

Sincerely,

Overspending & Overwhelmed

Dear Trying to Pump the Brakes,

First, I want to acknowledge the big win here: You caught yourself in the pattern. That self-awareness is the first step toward change, and it’s no small feat.

There’s a concept called the Learning Pathway that outlines how we progress when building new habits:

 

  1. Unconscious Incompetence – We don’t even realize there’s an issue.
  2. Conscious Incompetence – We recognize the problem and know we need to improve.
  3. Conscious Competence – We start making changes, but it takes effort.
  4. Unconscious Competence – The good habits become second nature.

Right now, I’d say you’re between steps two and three. This is the most frustrating part of change because it requires active effort. But there are some mindset shifts that can make this easier:

  1. Remember what you’re running from. You started this journey because you saw where unchecked spending was leading. If you go back to old habits, you go back to those negative outcomes. Stay mindful of why you want to change.
  2. Focus on what you’re building. Imagine what financial security feels like. Picture the freedom and peace of mind that come with being in control of your money. That vision can help keep you motivated.
  3. Break it down into small, manageable steps. You already took a great step by reaching out! What’s another small action you can take right now to regain control? Maybe it’s pausing before purchases, unsubscribing from marketing emails, or writing yourself a letter about why this matters.
  4. Know that you’re not alone. You can always reach out to me or someone you trust when you need a reset.

Change is hard, but you’re already on the right track. Keep going—your future self will thank you.

Sincerely,

Your Friend in Finance