Many people in Great Britain are struggling with debt and one cause of this is overspending. Here are 10 reasons why people spend more than they can afford:

1. Shopping improves your wellbeing

I know I, like others, get enthusiastic when I buy a new pair of shoes; it is not difficult to fall into the trap of linking tangible goods with happiness, however short-lived that sensation may be.

People want immediate fulfilment, being unwilling to wait can be a key factor of spending beyond your means. The temptation for that feel-good feeling can be difficult to stand up to.

2. Feeling guilty

People purchase presents with the aim to make up for perceived shortcomings. Parents are especially susceptible as some feel they can't have as much family time as they desire due to long working hours.

3. Pressure to conform

Adults are affected by peer pressure, just like children. It is normal to want to belong in a community and some people believe that buying high-priced things will help them achieve this goal.

4. Using future earnings to buy now

Your next pay slip may be only a short time away. People can grow dependent on their future earnings to pay for things now. As a single event this may not cause too many issues but permanent overspending each month can lead to significant debt problems.

5. Credit is easily obtained

Store cards and credit cards enable people to lavishly spend and ignore the cost until the bill comes through.

Lots of people find it easy to get an overdraft from the bank. Having an extra resource of finance is just too tempting for some people to refrain.

6. Unpredictable lifestyle changes

Loosing a job may force you to reconsider the way you currently live. However, it is hard for some people to adjust to this and make changes to amount they spend.

7. Being unaware of total spending

Overspending can occur when people are not aware of their spending allowance. Poor money management is a key factor of debt as people are generally unaware of their outgoings.

8. Shopping online to fill time

We no longer have to actually travel to shops to buy as a result of of the internet. When we are bored with nothing to do it is effortless for us to log-on and browse plenty of shops. Although online window shopping can be exciting the best part is when the package comes in the post after purchasing online.

9. Too many adverts

We are bombarded with advertisements each day and it can be hard to withstand the temptation to buy the newest novelty item we have seen on the television, even though, if we thought rationally, nearly all of these goods we don't really need, or have any use for.

10. Not accounting for possible emergencies

Everyone will occasionally spend money on something unexpected, e.g. car maintenance. If you do not account for emergency expenditure you could end up in debt as a result.

There are plenty of reasons why people spend too much and it is easy to see how individuals are ending up in debt. A debt management plan may be the answer to solving your debt problems. Although a DMP cannot reduce the temptation to overspend, it could be an applicable option for managing your debt.