Sometimes even the richest people think that they don’t have money for some purchases. Yet, some individuals save some cash, even if they don’t have a large income. As a result, they have some money to spend on the casino like online slots or on a gift for their significant other.
The reason why they can save is that they’ve got rid of their bad financial habits. What are they? Keep reading to understand what bad financial habits most people have.
1. Don’t Shop in Bulk
Do you still think that only miserly and old women shop for groceries, and are embarrassed to buy groceries and household items in large quantities? In buying a lot of goods at a discount there is nothing shameful, especially if these products are not perishable and can be stored for a long time.
Home reserves of necessary things (cereals, toilet paper, shampoos and detergents) will save you from the temptation to buy something extra, because the vital reserve is already in the pantry. However, even when buying in advance you need to assess the necessity of the goods – often stores sell out of items that are not of the best quality.
2. Don’t Take Advantage of Loyalty Programs
Many companies provide loyal customers with discounts and bonuses. And it’s very short-sighted not to use loyalty programs, because it’s not just bonus cards, which accumulate points for future discounts. For example, airlines allow you to accumulate miles to pay for tickets.
In order not to get tangled in dozens of bonus cards, you can install an app for your smartphone or tablet that allows you to keep them in one place.
3. Still Haven’t Learned How to Haggle
There’s a great tradition in Eastern countries for those who love to shop – salespeople and customers just love to haggle. This is a true art and also a great skill for people who do not mind saving money. You can haggle not only at the bazaar – when buying real estate, furniture and appliances there is always a chance to get a discount if you can negotiate with the seller.
Do not miss the opportunity to save money, sometimes it is enough just to ask about discount programs to pay less for a product you like.
4. Don’t Plan Vacations in Advance
An unplanned vacation can be hard on the pocketbook, because the prices of tickets and hotel rooms are noticeably higher during the season due to high demand.
But not only the time of year affects the price of the flight, the day of the week is also important – Tuesday and Wednesday were the most favorable days to travel. The worst day in this regard is Sunday in July and December – the prices of tickets skyrocket.
Travel bloggers recommend booking accommodations that include breakfast and lunch, as well as researching offers on couch surfing sites in advance and looking at campgrounds.
5. Buy Items to Cheer Yourself up
Shopping to lift your spirits is a really bad financial habit. How often do you delight yourself with unplanned purchases? American consumers make at least 3 unplanned purchases a week and it takes a serious toll on their budgets.
Financial experts explained why cheering yourself up with shopping is bad for you. First, you risk buying a lot of unnecessary items. And even if they cost relatively cheap, by the end of the year you will spend a substantial amount.
Second, the reckless pursuit of shopping may indicate that you are trying to solve your inner psychological problems at the expense of shopping. For example, low self-esteem and an authoritarian upbringing in childhood may provoke a craving for unnecessary shopping.
Pleasures can be completely free – a walk with friends, a picnic with family or doing sports in the fresh airlift your spirits no worse than shopping. And safer for the wallet, too.
6. Don’t Consult Before Big Purchases
Family is not just loved ones who will support you in times of need. No one will tell you about your faults and shortcomings as honestly as your parents or spouse. This is worth taking advantage of, if you are planning a major purchase in which you have doubts. In any confusing situation, discuss your plans with your family.
Perhaps, the wise advice of the older generation will keep you from reckless spending.
7. Buy Clothes That Don’t Fit With the Rest of Your Closet
Bright shoes, which you wore only a couple of times, or trendy bags, which gather dust in the closet, sooner or later will ruin your budget. Especially if the purchase of clothing that does not fit into your closet, has become customary. It’s worth sobriety to assess your financial capabilities and to start following slow fashion trends to save money.
Do not neglect the sites for the sale of second-hand clothes. Not only is it profitable to buy there. Arrange a sale of unnecessary clothing. So you free up space in the apartment and get a nice bonus in the form of extra income.
8. Buy Coffee in a Cup Every Morning
British scientists have calculated that the average office worker spends £393 a year on coffee. Of course, the price of a cup of coffee in the world may vary greatly depending on the region, but one thing is certain: a lot of money is spent on coffee. It’s much more prudent to buy a thermos bottle, drink delicious, homemade coffee on your way to work and save money in the process.
9. You’re Broke at the End of the Month
If it’s still a week until payday and you’re already short on food to get by somehow, we’ve got bad news: You’re not spending your money correctly. With proper spending, there simply shouldn’t be any such days. It’s worth reviewing your budget and eliminating the items that are dragging you down.