Why do so many people have such hard time controlling their spending?
Because many people fail to realize the importance of saving money.
There are several reasons that people have such a hard time controlling their spending. But most of these point back to a big reason for such a problem. Credit Cards. With just a swipe we can buy anything we desire. With the ease of such a system also comes dangers. When we use the convenience of credit cards we so no immediate affects of our spending; that part only comes once a month when we get the bill. What's a solution? Cash. When you pull out your allotted spending amount the purchase suddenly takes on a whole new dimension. Something happens when we see a physical item being exchanged. A small example of the effectiveness of cash is shown by a study that indicates before credit cards were created the average amount spent on a fast-food meal was $4; after cards a whopping $8! As much as a hassle as it is cash is the better way to go if you have a spending problem.
They developed a "habit" of spending to keep up their social habits and they can't adjust.
I have a friend who's on a limited income (he's disabled) and he complains every month that he doesn't have enough money. I ask, so what are you spending your money on? He counted up and only came up with at least 150 left over every month. I said, there's something you forgot to count. What about your daily Starbucks coffee? He grinned sheepishly, "Oh, right." There goes 75. Add eating out and occasional buying a few things and he's out of money.
The problem with cutting those is he really can't as those also doubles as his social occasions. If he doesn't go to Starbucks he'll never get out of the house.
Presumably because they are very deluded and unaware of the worlds economy and what is going on around them. People who spend excess amounts of money are usually very egotistical and think that money is the route to all happiness.
Another factor is people fail to spot the purpose of advertising. Companies spend billions each year trying to tempt people to buy and use their products. This means catching advertisements are created leaving a lasting impression on people which = £££ for the companies.
Compulsive buying is a problem in my opinion because we live in a society where excess greed is welcomed and the values of basic materials to survive are looked over.
Perhaps greed has overtaken them. We do live in a society that encourages people and government to spend beyond their means/
Until you do an honest and accurate budget, people have no idea how much they are really spending. It's almost like an addiction. Whatever your habits are, they are hard to break.
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