5 Spending Habits to Kick in Spending
Everyone knows it can be hard to save or budget. We’ve identified the top five guilty habits when it comes to money and how you can challenge your inner spending demons to make your cash-flow grow!
Ever wondered where all your cash has gone? Surely it CAN’T be all spent – it’s only two days after payday. If you flash your debit card all the time it can be hard to keep track of where your money is going.
Super Saving Tip: Make sure you check your balance regularly. Keep a calendar/diary of your main debits so you know when they’re coming out.
Are you always the one to put your hand in your pocket and help a friend if they are short on cash? You might be a great mate but do you sometimes get a niggling feeling that they are taking advantage of your good nature?
Super Saving Tip: Don’t let this get awkward. We all love our friends but don't put your own finances at risk lending them money, especially if there’s no guarantee you’ll get it back. Why not say “I’d love to help but I can’t afford it, happy to help you come up with a solution?.”
Right, you’ve signed up for the gym so you’re going to go every night, right? Be honest, are you guilty of paying for a monthly gym fee but just can’t get motivated to go?
Super Saving Tip: Don’t jump into (see what we did there?) into a contract which will mean a long term direct debit. Do your homework - are there cheaper alternatives available? Or maybe it’s the gym you don’t like? Why not get outdoors and exercise in your local park instead?
We all like life’s little luxuries but if your love for designer things has gone further than what you can afford maybe it’s time to learn how to be fabulous on a budget.
Super Saving Tip: Don’t knock it until you’ve tried it. Supermarkets own brands can be just be as good as higher priced products. If you love designer clothes but you’re bank balance screams Primark not Prada then why not check out second hand shops or eBay for some designer bargains.
Do you have a lifestyle that could rival will.i.am or Rita Ora? Do you live in the moment so much that you don’t actually realise what you’re spending? Eating out, shopping, nights out – it all adds up.
Super Saving Tip: Write everything down – income and outgoings (be honest with yourself!) You will soon see how much money you have each month and prioritise what you really need.