Do you ever struggle with overspending or impulse buying? If so, you are not alone. I've always been a ‘wants’ person, and when I ‘wanted’ it, I went and got the new clothes, the shoes, the fancy car, and the boat.

Did any of it bring me contentment? Did I need it, or did I want it? I'm not saying that we can't have nice things, that we can't go out and make purchases, and also save for really great things. It's that money mindset of needs versus wants and asking ourselves questions before making significant purchases.

Wants vs. needs

I will be sharing with you some practical questions to consider regarding wants versus needs when making some purchases. These are some things that have been helpful for me.

I am an impulse purchaser. I recently purchased a new car. I wanted that car so badly, and I wanted it right then. When I am buying something, especially when it's a big purchase, I have learned to slow down.

Through time I have realized that I need to do a lot more research, slow down, taking my time before I make a purchase. I'm so glad I did because the car I wanted was the opposite of the one I needed.

Prioritize purchases

Think about your season, the time in your life, or different situations. What do you need right now? Prioritize your purchases. We all know we need our basics. We need shelter, we need gas, we need food, we need health care, we need clothing, shoes and those kinds of things. If you have a baby or children, obviously childcare items. Those are the needs.

A lot of the other things are wants. So think about needs versus wants. If you want a lavish trip, it's something you can save for and build up funds for. That does help you prioritize, not only in your budget but before you go out and spend.

Feeling tired and sick

Check how you're feeling

Last week I was down with an illness. With the availability of so many online shopping stores, easily they could have quickly eaten up much of my money because I was down, sick, vulnerable, and not feeling well. I wanted all these different things. I had to put this into practice. Know your vulnerabilities.

If you are tired, hungry, sick, feeling lonely, stressed out, those kinds of things, really pause in those moments where you are a bit more vulnerable. Don’t do that impulse shopping or to make those online purchases. Pause.

Delayed gratification

Knowing yourself is as important as knowing your spending personality. Another thing to think about is whether I can delay purchasing it.

Do I need this right now? Is this something I can delay for maybe a couple of days, a couple of weeks, a couple of months, or even a couple of years? If I pause in those moments, wait ten minutes to an hour, or even 24 hours, I realize I don't need that. I really don't want it anymore. I don’t want it as bad as I thought I did.

Paying in cash

Can you pay in cash?

Another question to ask yourself is “can I pay cash for this?” Is this something that I will go into extreme debt to purchase this item? If you're going into debt to purchase one item or a whole bunch of different items, that's something to evaluate.

I love wants. I think it's healthy to have wants but make out a list. Put your needs versus wants. Then make sure to get your needs, basics, housing, gas, food, and things like that. Then save for your wants if they are items you want in the next month, six months, a year, or more.

Scripture

God puts desires in our hearts, but he also wants us to be wise stewards of our money. One of the great Bible verses that I love is Hebrews 13:5: ‘Keep your life free from the love of money and be content with what you have because God has said, “never will I leave you, never will I forsake you.” ‘

Are you feeling anxious about your money or your financial situation? I know a lot of us right now are going through some financial difficulties, loss of jobs, inflation, uncertainty in the future. Maybe you've lost money in the stock market, and maybe fear has been something you're starting to struggle with.

Wants vs needs

God does want to bring you that financial peace. He wants to provide for you. Over the last several years, I have used a prayer journal to write out my needs and also my wants. Again and again, I have been provided for. From housing, clothing, furniture, jobs, food and more.

“Therefore I tell you, do not worry about your life, what you will eat or drink; or about your body, what you will wear. Is not life more than food, and the body more than clothes? Look at the birds of the air; they do not sow or reap or store away in barns, and yet your heavenly Father feeds them. Are you not much more valuable than they?” Matthew 6:25-26

To wrap up, think about your wants versus needs as you're going into the new month. Write out a list and focus on contentment. I know that it's so difficult, especially in our society. We compare we have, or don’t have to what others have. We need to be content with what we have.

Do you struggle with impulse buying? Share your strategies for overcoming wants in the comments below.

Do you struggle with overspending or impulse buying? If so, friends you are not alone.

I am a saver but also lean toward being a spender. My challenges with overspending are new clothes, make-up, meals out, home decor, and buying fun crafts.

To help me from overspending and going over budget, I have begun asking myself:

DO I NEED THIS OR WANT THIS? For the most part, the answer is I want this. It’s ok to want things but when it becomes an impulse or not in the budget it’s time to take a PAUSE….

What about asking a few questions before purchasing?

Here are a few of my go to questions & tips that have helped me before I BUY!

Do I need this or do I want this?
Can I delay purchasing it?
Can I pay cash for it?
Did I do a little research before purchasing?
Check the reviews.
Ask friends and family especially on large household items, cars, etc.
Wait 24 hours before buying a large purchase or something more extravagant.

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Money Mindset: Need Vs Want