Scoop on Savings -- How to stop overspending

Overspending while shopping on an iPad.

The holidays are fast approaching, and many of us might be wondering how we're going to buy all the gifts we need, without continuing our habit of overspending.

In this week’s Scoop on Savings, admitting to overspending is a tough step to take.

Certified financial planner Eric Roberge told CNN that it doesn't matter how much someone makes, "people have the same challenges of overspending, regardless of their income level."

Financial experts recommend to first take a look at all your spending. Housing, food, gas, entertainment, drinks…everything.

When you know where your money is going, it's easier to know where to cut back on.

Next, find a budget that works for you. There are numerous budgeting practices that can rein in spending, to better manage your money. There are even plenty of apps in the app store that can help you budget on-the-go.

Go on a cash diet. This might be a hard one, but using only cash, can help curb overspending.

People tend to use credit cards without paying attention to how much they're spending.

When you see how much you're putting down for your purchases, it can help reel you back in.

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