Pressure purchase
Many people are motivated by guilt and peer pressure to spend their cash when they don't really want to.
Save money by paying it forward instead of paying for something because you feel pressured to.
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Spending subconsciously through auto-charge can be a waste of money. For instance, a gym membership. Other things could be hot products you've heard rave reviews about or items you pick up on an impulse.
Ask yourself exactly how you will use the item before you purchase it.
Buying low-cost, poor quality items might save you money short term, but you end up spending more if you have to keep replacing them.
Do your research before purchasing an item of value.
When you don't plan ahead, you end up having to buy out of convenience. For example, buying a more expensive lunch on the go.
Keep some items you buy often on hand to avoid last-minute shopping trips.
When you buy sale items without intention, you end up spending money you may not have spent at all.
- Consider whether or not you'd still buy the item if it were full price.
- Keep a wishlist so you can shop for the things you actually want once they're on sale.
Being disorganized can cause you to waste money on things you already own.
Take an inventory of what you have — and keep a list of what you need.
Late payments that incur fees and penalties can be costly.
Deal promptly with the payments you owe.
Incurring interest on loans can become an expense that costs you daily.
Make paying off your debts a priority.
RELATED IDEAS
Write it down when you’ve gone over your budget. The negativity you feel will help prevent you from overspending more or doing it again. Just think of this step as damage control.
If you have a large balance on your credit card, call your credit card company and request a rate reduction. If you often pay on time, they may be willing to negotiate, or you can get a 0% balance transfer onto another card.
Many installment plans offer an interest rate reduction if you sign up for automatic debt repayment plans. They are convenient, save money automatically each month, and ensure you won’t miss a payment or incur a late fee.
Not washing your hands, alcohol and junk food habits, and just not taking proper care of yourself in general, will all come back to bite you.
Weigh the potential medical bills against the temporary inconvenience of adjusting to new habits.