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Saving a buck: Why do we overspend?

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OKLAHOMA CITY -- Have you ever had buyer's remorse? Maybe you spent more than you wanted to or could afford? Here are a few things to consider before you splurge.

Probably the most common reason that we overspend is when we think we deserve it. We want to reward ourselves.

Sometimes our urge to splurge is sparked by things that happen at home, or we pay what we need to pay in order to avoid crowds, or we use time as an excuse. We never seem to have enough time so we grab and go without looking at the price.

"You're on a time schedule. You just want to run in, get what you want and get out," Victoria Wood, with ChappelWood Financial Services, says.

Sometimes peer pressure gets the best of us. We see what others have, and we want it.

Have you ever bought something you thought was embarrassing and you didn't want everyone else in the store to see? So you camouflage it with things that you didn't intend on buying.

"You go for two things and you end up buying ten," Wood says.

But there is nothing wrong with cutting yourself some slack here and there.

"As long as you don't wake up with that buyers remorse the next day," Wood explains.

What's even better is when you have someone else's approval to make that purchase. But the bottom line is to make a plan before you go shopping and stick to that plan.