Spending Habits That Kill Your Budget
Everyone knows a person with the same income but can afford much more on a long term. The reason is that they try to save more and reduce some small expenses like the 10th pair of sneakers or https://www.playamo.com/en-CA/games. Ready to change your life and spend less. Then try to get rid of these sneaky habits.
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Coffee With a Bun
You go out in the morning to work. It’s damp and muddy outside the window. You want nothing. Then you see a coffee shop. You immediately imagine the aromatic coffee smell and dream of getting a cup with the most delicious drink in your hand.
Of course, there’s nothing wrong with the coffee itself if we were limited to a small espresso or cappuccino. But that’s where marketing comes in. As soon as we walk into a coffee shop, we also see delicious cookies, buns, and all kinds of bars. We don’t take a small coffee cup, but a large one, or a special seasonal drink.
In this coffee shop, you can leave a sum of money which could be the same as the cost of your lunch. And with home meals, you could have lunch and dinner for the same price.
Be careful here. Keep asking yourself, “Is this really what I want? Will this give me the most pleasure?”
Stores Near Your Home
You go home from work and know you need milk with a bun. You run into the nearest store and think, “I’ll just get some milk.” But somehow we end up walking out of there with a bag of groceries we didn’t need.
There is a psychological trap here. These stores offer lots of promotions and good deals. But when you think about it, you realize that they offer promotions on goods that no one buys at all, and which, perhaps, are not tasty at all. As a result, you buy goods that you absolutely did not intend to buy. You would have lived perfectly well without them.
Food in a Plastic Bag
Buy yourself a cloth bag if you haven’t already. It’s eco-friendly and saves money. It seems like one bag only costs a few cents. But roughly calculate how many of these bags you buy annually. And what happens to them? You overpay for things you don’t need. And they also spoil nature.
Also, a separate pleasure is buying washed vegetables. These are things you can do yourself. Until you feel that you have reached a level of wealth that allows you not to count such money for expenses, it is better to do such things at home. That way, you will save some money.
Studies show that most people throw away about 1/5th of all the food they buy. They throw away 1/5th of the money they have earned into the trash. This happens for many reasons.
The main reason is the habit of buying food to spare.
You go to the store, and there’s a deal on bananas. You take it and buy 20 bananas for a bargain price. Then you go home and remember that your relatives prefer apples and never eat bananas.
We often buy more just to have food to spare at home so we don’t have to run to the store later. This is quite a dangerous habit because a decent portion of such food spoils and is thrown away. Why throw money away when you can use that money to buy some bonds that will work for you for many years in the future?
Fitness is a unique industry. It has become widespread precisely because the fitness club owners know that 90% of people will pay for their membership but will not go to the gym. Here we have the hope of starting a new life: “I’ve paid for my membership and bought a great gym outfit. Now I’m going to get fitter and healthier.”
Before deciding to buy a membership, if you are just trying to exercise, it is worth testing yourself and trying working out at home for a couple of months. If you can do it at least twice a week, systematically, independently, with no external control, then it makes sense to pay for your membership.
If you realize you don’t have enough discipline even for home exercise, what makes you think you have enough discipline to go somewhere else after work and exercise? Start small and work your way toward the lifestyle you want, little by little. Don’t expect your fitness gym membership to turn your life upside down.
Of course we need to give gifts to please our relatives and bring them pleasure. The problem is that we often give people items they don’t want to receive, and which then lie on distant shelves.
Especially if the gift is purchased on the last day, something expensive and off the mark is often bought.
It is essential to have discipline. At the very beginning of the year, make a list of loved ones and start thinking about gifts. Then you will have a kind of plan. You can even estimate a certain budget for gifts. This is also a fantastic solution.
Sometimes it is better to present money to your friends. This sum may be lower than the price of an unnecessary gift. Control this point because you can spend a decent amount that way.
How to Control Expenses
These tips will help you reduce your spendings and save more:
- Spending list. Write out a list of the unwise expenses you make, hang it on your fridge, and memorize it. Every time you stand at the checkout and reach for another chocolate bar, you’ll remember that this item is hanging on your fridge. Then you’ll wonder, “Why would I do a thing that’s not good for me?” Gradually you will begin to realize what is happening to you.
- Cost planning. Plan expenses not only for the month but also for the day. You can set aside some small amount to spend on unplanned expenses. But it’s important that the planned $10 you can spend on nice things for the soul doesn’t suddenly turn into $50. On a long horizon, that difference will be significant.
- Cash instead of cards. Don’t take cards when you know you will be tempted. Take a certain amount of cash that you intend to spend on a particular item.
These tips are easy, but you will see changes, even after a couple of weeks following them.
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