Unknowingly, it is almost the end of the year again. I wonder if you have saved money this year?
I thought I could save money during the MCO period, but the temptation of online shopping is too great and my monthly income will always finish at the end of the month. T.T
Have you ever wondered what causes you to spend more than your budget every day?
American financial expert Tiffany Aliche once shared the "bad habits of financial management" of modern young people. Let's take a look now~
1. Too Passive And Did Not Develop The Habit Of Bookkeeping
Record your daily consumption regularly, so that you can understand the pattern of expenditure throughout the month.
You can try to manage your money by putting the monthly budget in a multi-page transparent folder every day. Then, you can take out the daily amount needed every morning and put the cash in the wallet. After the day is over, you can put the remaining money back into the transparent folder.
Photo Source: Money Under 30
When you receive any bills, you must check every consumption payment. If you feel something is wrong, you must bravely put it forward and actively check the unclear accounts with the relevant persons to protect your rights and interests. You can even ask if there are any discounts before the order is closed.
2. Putting Money In Only One Account
If a person has only one account, it is easy to stay in the "comfort zone" and spend as much as they want because they know the salary will still come in to replace the amount used last time.
You can set up 3 savings accounts: salary account, deposit account, and daily expense account so that you will be able to understand the classification of your income immediately, and will not mess up your monthly available amount.
Photo Source: Money Control
3. Automatically Renew Unnecessary Services
I believe that many young people will automatically renew the subscription of some online magazines, Spotify, Netflix, and other entertainment apps on the Internet.
In fact, many of these services are sometimes not commonly used and even you forget that you have subscribed to this type of service!
So, it is time for you to consider whether to continue subscribing. Don't let automatic renewal become your unnecessary expense~
Photo Source: Axero
4. Easy To Be Attracted By Promotions
Every time I see a big "Sale" word, my heart will be stunned and I want to rush into the store~ I don’t know if you have the same experience like me, that is, the quality of the items bought from the promotion is usually not very good!
So, when you see discounts, don’t make an impulse shopping~ You still have to check the quality of the products to keep your wallet, so that you won’t spend so much wronged money!
Photo Source: Disruptive Advertising
5. Often Waste Food
Food and shopping are things that everyone generally spends on weekends. Sometimes, one shouldn't be greedy if he/ she doesn't eat too much.
This will not only avoid wasting food but also ensure that you will not over-consume. The key point is to control your food intake and reduce fat accumulation.
6. Buy Items Which Are In Trend
We are all living in an era of advanced information. Whenever something new happens, you can turn on the phone and you can see it at a glance~
As long as there is a new product launch, there will be many online celebrities and other industry-associated endorsement information appearing on social platforms. The higher the exposure rate of this product, the higher the likelihood of consumers buying!
Sometimes, you might realize that the item is useless after you bought it and you might start blaming the high-value packaging.
Photo Source: VectorVest
As long as you develop this habit, you can easily control your daily expenses and achieve your savings goal.
Remember that it is always not too late to consciously start to correct bad consumption habits!