Did you ever plan a budget for yourself? Do you know on what and how much you’re spending? Unpleasant spending habits intervenes in every area of our lives if we don’t plan our budget, as the saying goes, “If you fail to plan, you plan to fail”.
We’ll now take a look at 5 Signs which warns you about you spending your money:
- Squandering money on stuff you don’t really need: Recall the times you succumbed to the “Pay no money now” deals and Sales. Don’t ever let that grab you. If you don’t have to pay it now, you will have to pay for it later. Always Remember in your mind is that nothing in this world comes for free. Run through the items you have in your house. Separate the stuff you need from the one’s you don’t and sell the unwanted items. You will make some money by doing this and get rid of the clutter at the same time.
- Not having a budget strategy: A Budget is a financial plan of all expenses and revenues which are planned. In simple terms it shows how much you are spending, borrowing and saving. This is one and only way of being in control of your finances.
- Not paying your bills on-time: This is the most awful manner of losing your money for no reason at all. All you have to do to get rid of this dreadful habit is to set reminders in your cell phones and pay them a few days prior to their due date. This relieves you of paying unnecessary charges.
- Impulsive Spending: Always keep track on what you are shelling out your money. Don’t succumb to shopping temptations, when you see that stuff move out from that place and calm down yourself and you will be fine. Likewise don’t buy stuff for the sake of purchasing something as well. Think about how much you will save by making your choices and decisions thoughtfully.
- Using Credit Cards too much: When you know that you cannot use your credit cards wisely, then its better you don’t go out with them for making any kind of purchases. You have other options i.e. you can use more cash or you can use your debit cards. Think about the rewards you get when you do this. There are no two ways going about with it. Decide and do what is right.
All you need is a little bit of disciplining yourself financially which will give you rewards for a life-time, a sense of peace which will give you the confidence to move ahead in your life and a strong feeling of accomplishment.
Lucy loves travelling, she is interested in writing articles for gadget and financial blogs. She is currently researching on missold ppi.