What we're overspending on

Impulse spending on the likes of groceries, clothing and eating out is putting many of us in the red.

New research by thinkmoney shows that we overspend most on groceries, clothing and eating out.

While the financial crisis has made us wiser with our cash in many ways, even the most careful of us can be drawn in by an enticing deal it seems. On top of that, we’re more easily persuaded into buying add-ons than we might think.

Thinkmoney believes binge buying, and therefore overspending, is often driven by special offers like half price and buy one get one free (or BOGOF if you prefer).

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All the trimmings

Here’s a rundown of the top ten products and services that we overspend on, along with the sneaky tactics that get to us to part with more of our money. Some of these will probably be strikingly familiar.

Product/service	Sneaky tactics
Groceries	2-for 1-offers, half price, reduced to clear
Clothing	Accessories
Eating out	Adding side dishes
Technology	More memory, cases, apps
Takeaways and fast food	Paying for more expensive meal deal
Travel	Adding priority boarding or leg room
Online grocery shopping	Adding suggested (unplanned) items to basket
Alcohol	Persuaded to get a double instead of a single
Leisure	Buying VIP tickets for a concert; upgrading hotel rooms
Opticians	Adding anti-glare coating or scratch protection

Watch out for these tactics when you're out and about. If you’re prepared, you’re less likely to be caught out.

Why we overspend

The research found that 8% of us are swayed into spending more by persuasive salespeople while a smaller 5% just feel pressured in to forking over more dosh.

Four in ten overspend to 'take advantage' of a good deal on a product or service.

Though making the most of a good deal sounds more considered, those little bits of of overspending can build up. Over half of people said it caused them to spend more than they planned.

How to put a stop to it

Here’s some quick tips to help you curb impulse buying.

Pay with cash: This way of spending has more of a ‘real’ feel, giving you a better idea of how much you’re handing over.

Leave some of your money at home: If you have it all on you at once, it’s more tempting to spend it. Leave some of it at home in a safe place.

Think about the special offers you’re tempted by: Will it actually benefit you? Is it going to expire before you get a chance to eat or drink it? If the answer to questions like this is ‘no’, put it back!

Shop less: Particularly when it comes to food shopping, aim for a more substantial shop once a month with a clear idea of what you’re buying. Similarly, for clothes shopping, only go when you really need to.

Have more nights in: Be a little more creative with ideas for nights in the house such as a dinner party or movie night. That way, you won’t be tempted by that alluring Peshwari naan at your local.

Do you have any tips to help avoid overspending? Tell us in the Comments below.

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