Do you want to have more money? Getting rid of bad financial habits and developing good ones will lead to an increase in the level of well-being.
Home finance management involves not only developing certain good financial habits, but, of course, giving up bad ones. At least some of them are necessarily present in the life of the average citizen. Needless to say, if you find yourself in any of the following habits, you need to get rid of it as quickly as possible, which will undoubtedly have a positive effect on your family budget.
1. Do not keep track of personal finances, spend money without hesitation
This habit unites a huge number of people who are constantly in a state of financial instability, in other words, those who are always short of money. Moreover, importantly, this state of constant shortage does not at all depend on the level of a person's income, but depends only on the ability to competently manage this income.
Usually, having received a salary, such people start spending it immediately. The main share of their personal budget expenditures falls on the days of wages and advance payments. As soon as the money falls into their hands, a period of crazy spending ensues. Everything that "will definitely come in handy" is bought, some part is spent on entertainment. A few days later, the wallet is empty again, and the next period of waiting for the next receipts begins.
You must realize that if you do not find the strength to get rid of this bad habit, lack of money will never leave you. Moreover, mind you, regardless of the level of income.
2. Constantly borrow money "to paycheck"
As you probably guessed, this habit flows smoothly from the first. What to do when all the money is spent, but you have to live on something? Of course, take it! By borrowing money, such people can create a kind of appearance of financial stability. And it’s okay if you borrow from relatives, colleagues and friends. At some point, they stop lending them, and they have to contact credit organizations, where they are always happy to provide financial assistance without certificates, guarantors and unnecessary questions. But such help is very expensive. Interests and commissions for instant loans are always the highest possible.
Thus, standing loans do not decorate your personal budget in any way, but on the contrary.
3. Save nothing for savings
Some people who do not have the first two habits already consider themselves financially well, because they have enough to live with what they earn and they have no debt. In fact, even for the state of financial stability today, this is not enough, not to mention financial freedom. Any personal or family budget must necessarily have a certain reserve, as well as savings that you set aside for specific purposes (for large purchases, travel, etc.). If you do not have this, then any unforeseen situation will quickly drive you into a financial hole.
4. Delays in mandatory payments
Financial discipline is a serious thing, and failure to comply with it will only lead to the accumulation of debts and the emergence of new expenses (for the payment of fines and penalties). And long-term delays in payment of, for example, utility bills can cause you to disconnect from vital services and even legal proceedings. In addition, overdue debts to the state or banks may entail a ban on traveling abroad and being blacklisted by the Bureau of Credit Histories. That is, nothing good, and, moreover, it will not bring you any savings. For your obligations, you must pay clearly on time.
5. Buying food on an empty stomach
The results of the conducted research claim that a hungry person spends at least 10-20% more when going to the store than a well-fed person. Moreover, this rule applies not only to food, but in general …
6. Make purchases spontaneously
For the most part, purchases made “on occasion” or “on load” turn out to be meaningless and useless. Competent sellers can easily "sniff" you a product that is much cheaper in a nearby store, or a product that you do not need at all and is doomed to be abandoned for a long time. Shopping is best done only when planned.
7. Trust sellers without checking change and invoices
At one time, even Soviet trade was based on body kits and calculations. What can we say about modern, when a lot of trading technologies are designed to deceive the buyer. Even in the most advanced supermarket, a cashier can deliberately or accidentally punch the same product twice, count more expensive goods instead of cheap ones, include something extra in a long check, or not give change. And these little things together can seriously damage your home budget if you let them go.
8. Purchase goods on credit by taking out a loan in a store
Loans for the purchase of goods are one of the most expensive types of loans, they are always provided at high interest rates and with a bunch of hidden commissions. And especially if you apply for a loan directly at a retail outlet. As a rule, there are not even representatives of banks sitting there, but representatives of credit organizations operating from banks or independently, and such organizations issue even more expensive loans than the banks themselves. Therefore, if you can no longer do without consumer credit, it is better to contact the bank branch, provide all the necessary documents and do not pursue a high speed of decision making. As a result, the loan will cost you much less.
9. Without reading the documents, sign them
This is especially true, of course, of documents of a financial nature, for example, loan agreements. So that some of their conditions do not turn into "pleasant" surprises for you - do not be too lazy to carefully read the text of the agreement, and check all incomprehensible points with a bank employee. The thoughtless signing of a loan agreement can drive you into real financial bondage and completely empty your personal budget, and it is not the bank that is to blame for this, but only you yourself.
10. Reliability in communication with sellers
Failure to say no to a compulsive salesperson often leads to large unplanned expenses. This has already been partially mentioned in the description of previous bad financial habits.
When you are in a store, always remember what exactly you came to it for, and do not let the sellers "sit on your ears." When choosing a product, you should evaluate its characteristics, not the eloquent ability of the seller. If the product does not suit you, do not be afraid to say no to the manager. No matter how much time he spent on you, and how much he told and showed you. All this is part of his job responsibilities, and your business is to wisely spend personal finances.