How to Stop Overspending Money When Tracking Isn’t Enough
episodePreviously titled “Ep 137 | How to Stop Overspending Money When Tracking Isn’t Enough” — renamed by the publisher on Aug 2, 2026
Wealthy After 40: Retirement Planning and Budgeting for Gen X
15 min
1 speaker
2 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
How does the episode define the problem of overspending?
How do you stop overspending even when you're tracking and knowing where your money is going? Control happens at the decision-making stage, not when you review your expenses and quote, see your overspending. This episode will help you understand why knowing where your money goes isn't the same as being in control and what you should do instead to quote, help you stop overspending. Welcome to the Wealthy After 40 podcast, the show for Gen X women and couples who are ready to ditch financial stress and feel confident about retirement. I'm your host, Dailene Higgins, financial and retirement coach, helping Gen Xers master their money and create a personalized retirement plan so they can stop spinning their wheels and step boldly into their dream retirement.
If you're feeling behind, don't worry. Continue listening to this podcast as well as be sure to grab your free guide, Five Must Do Steps to Start Retirement Planning Now at elevatefinances.us backslash must do. And remember, let's make retirement possible together. Welcome to the episode. I'm so excited to dive into the topic of overspending. I get a lot of clients come to me and they express their true desire in me to help them stop overspending, and they're looking for me to tell them how to do that. First off, I want to say I don't coach like this. I'm not going to tell you where to spend your money. By the end of this episode, you'll understand a better why. But if you're looking for someone to tell you exactly how to stop overspending, head on over to Dave Ramsey.
He will tell you. He will tell you exactly what to do and what not to do. But if you're looking for a better, more effective, and honestly, a happier approach to your spending and your money, you've found the right place. And today I'm going to help you understand overspending and how to, quote, control where your money is going. Lots of quotes. Lots of quotes today because some of these words I'm using aren't true, exact definitions of what you hear the word normally. Most of us don't like restrictive budgets. In fact, most of us stay away from budgeting because we find it is restrictive. We don't like it. It's never been effective for us. And I'm here to tell you that you don't need a restricted budget to help you be effective in having control of your money.
But I do believe you need a budget. Hopefully you'll stay tuned and I'll explain more why. But we're going to start off by talking about what is overspending. Really, as the clients have come to me and shared this word, and then I ask them to explain to me what they mean. First off, for me, overspending means I just go out and I spend money I know I don't have.
Why is tracking expenses not the same as having control?
To me, that is true overspending. And that is a different issue than what I am talking about today. That needs different support, coaching, therapy, if I can say. The other thing, and this is mainly what I hear from my clients, is that overspending is I spent things that weren't in my budget. I purchased things that weren't in my budget and I knew I shouldn't have. Or, you know, with the things that happened this month, I overspent my budget. That's a completely different problem. And that is the problem I'm going to help you solve today. If you have the other problem, I would love for you to book a free call. I can find somebody to help support you. But let's go back to overspending. And I want you, if you're somebody that uses that word often,
Oh man, I overspent. Oh, I overspent. I want you to stop and I want you to define what that means to you. Define overspending. Just like I said at the first of the episode, there's going to be words that we're not using in the same context. And when you say overspending, I know it's not the same context as what somebody believes it to be. And it is important for you to understand what you mean by this because then you can actually identify your problem and you can find a solution. Or when you reach out, somebody can help you find a solution much easier. So we've got to start there. Why do we overspend?
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Chapters
2 chaptersSpeakers
1 identifiedMore from Wealthy After 40: Retirement Planning and Budgeting for Gen X
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