I'm spending too much money from my savings. I need help to stop

This is a willpower issue. You're giving into impulse purchases more than you should. Further it looks like you're consciously finding reasons to justify these frivolous purchases.

Given what little information you've given us, I'm going to make some assumptions on your situation; no judgments here:

  • You're young: Not having a bank account in your name, and assuming that four figures is enough to have saved makes me think that you're 15-19.

  • You live with your parents: Paying rent, that is to say paying to not be homeless, is a real eye opener as to what is important and what is not in regards to spending money on.

I suggest a multi-part approach to realizing the value of money:

  • Replace the cost of something with how much time it costs you to purchase.

    • If you make $10/hr, you effectively spent around 14 hours of your life to buy darts (taxes). This could be used to help justify a purchase as much as it can be used to justify not making a purchase.
  • Set up a budget in which you immediately save most of what you net. I'm going to make some assumptions for the sake of math for a relatively frugal lifestyle in a relatively low cost of living area

    • Let's say you earn $2,000 a month (for easy math); Rent is $800; and Food is $200. This leaves you with $1,000 net... so far. If you pay for your own cell, Netflix, Internet, etc... Let's say that after all of that you have the potential to save $700/month. Immediately put half of that, $350, into a savings account. This means that you have $350/mo for "play" money.
    • Doing the math here: 40hr/wk x ~4wk/mo = 160 hours worked per month. $350/mo / 160hr/mo = $2.18/hr
    • That is to say you make $2.18 worth of play money for every hour worked. This play money has to include literally everything that is not already on your budget. Movies, concerts, bars. I should also mention that this budget does not include a car payment or gas money.
    • Your $100 darts cost you maybe 50 hours of your life; with the assumptions made above. Again, this is not me telling you not to buy things you want, this is me getting you to understand your time cost per item for a given budget.

Ok so you set up a budget and now view money as time in regards to purchases; what else would be a good idea?

  • Realistically think about how much entertainment you'd get from the thing/experience

    • I'm not going to lie, this is why I have a hard time justifying going to the movie theater or eating out.
    • This is why people can justify spending thousands of dollars on a Computer. If they spend 2,000 on a computer that legitimately gets them 10,000 hours of entertainment over the course of its life... that's a good cost per hours of entertainment ratio.
    • Do this with everything.

Ok... what not?

  • Don't obsess over money

    • Life is about finding a balance that works for you. Don't get obsessive about spending 5 dollars for an hours worth of entertainment. Don't stress yourself out because you went 10 dollars over budget this month. Don't make yourself miserable just because you feel the need to save as much as you can.
    • I've been there. It has certainly helped my financial situation, but it was a real low point in my life. As mentioned... life is about finding a balance. You feel like you are currently too far on the liberal side of spending, I was certainly too far on the conservative side of spending. Balance.
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