The Necessity Spender

The Necessity Spender spends most of their money on things that are needed for the household or family members and close friends. When they do buy something that is not a necessity, they tend to only buy it at a reduced price or lower quality than they would buy otherwise. The Necessity Spender does spend money on bargains, but the purchase is determined by how much they need the item, not just the price of the item on sale.

From a money standpoint it is good to stick to only buying necessary items, but simply choosing not to spend money on its own is not a financial plan. Saving needs to be intentional, and you must have a place and a purpose for the money you are saving. You may also consider making financial goals for the money you save, to provide you with a short term or long term end goal. The best balance is to be intentional with the money you save and have fun but within limits.

Three Tips To Deal With Spending As A Necessity Spender

1. Make A Financial Plan

While staying under a budget amount saves you money, on its own it is not a financial plan. Set clear financial goals for yourself and for your family. Know how much you are saving and spending. Make sure the money you set aside and save each month amount goes towards a savings goal and does not just get lost somewhere in your checking to get spent on other things

2. Consider Budgeted Category Amounts

Having set amounts for each category of spending gives you an allotted amount to use. This acts as a ‘spending limit’ for each category, so once it is gone it’s gone

3. Amount Remaining Is A Reward

If you stick to your budget limits in each category of spending, you get the benefits of sticking to your budget. If you want to make the desire to spend less even more appealing, consider rewarding yourself with the money left over! So, if you managed to spend $300 instead of $500 in the clothing category, you can use the $200 you saved on something for you and your family. This acts as an incentive to save money so that you don’t forget your wants when buying the things you need.

The Six Spending Types

The spending habits that I found in my own spending were universal to individuals that struggle with overspending. Through my research I have identified six main Spending Types that account for most of our overspending. Read more about the remaining Spending Types.

Want To Learn How To Deal With Overspending?

Frustrated about overspending? You just need to budget, right? WRONG! Going over budget is not a budget issue—it’s a spending issue. To deal with overspending, you need to deal with the spending habits behind your spending.

Now that you have found your Spending Type, you need to learn how to use that knowledge to curb your spending. Here are your first steps:

1. Join the Money Makeunder Community to learn HOW to curb your spending
2. Download Your FREE SPENDING TYPE PDF!

• If you have already taken the quiz, check your email for your PDF
• If you haven’t taken the quiz to discover your Spending Type, take the Spending Type Quiz!
• If you want more information The Spending Types and how to stop overspending, subscribe to the email list or join the Money Makeunder Community!