Do you find yourself drown in debts at the end of each month spending more than you gain?
You may be one of those affected by the Money waste Virus and need some planning to get out the crisis , you need to plan in more rational way for their financial situation to avoid falling in the black hole of credit and may never get out : So here is 5 habits you should avoid to control your spending advised by the finance experts :
Emotional Spending :
A lot of people start this type of blind emotional shopping when they have some personal issues to find himself buying things he may not need . While shopping could not solve the problem but will certainly make it worst so that joy you may feel while paying in cash is just temporary and feeling good will make you spend more .
To get over this state of mind crazy spending you should put a list of needs when you re mind is clear and calm away of the nervousness or stress or just to wait 24hours before going in a shopping never planned before .
Giving credits !
Well it is noble act to help those in need giving them some money you , apparently do not need , but due to such special relationships between your friends or family members may be you may find some difficulties asking them to bring the money back to you so that may cause some social problems and after sometime you may need someone who offer you a credit but you may not find and you ve already lost a dear person ‘s friendship .
Other many ways that you can help that person without giving him money you can suggest him take him to his work by your car until he fixes his or give him some advices to control his spending or some practical advices so he may surpass his crisis .
And in case you ve decided to give him money consider that as gift and don’t hate him ater if you find him buying clothes instead of paying his debt so if you could not consider that money as gift simply don’t give it to him .
Always pay your Dinner
Well most of us feel glad after paying the dinner’s bill with your friends or family and you may think about doing that really often because that is not much for you but when you do that many times you may think that those persons are always waiting for that generosity from you so when you will be in some financial troubles those friendly relationships may be disturbed so you may also start wondering if your buddies go out with you to enjoy your company or for some free meals or drinks !
Comparing you financial situation with others :
A lot of persons put their lifestyle or financial situation in comparison with others cars houses furniture and may think those are manifestations of success while all they will be doing is imitating others choices of how they spent money according to their unique condition that the others certainly do not know , experts opinion is clear about this just plan for your own way of spending money independently of what others do .
Spending all the Salary !
It is important to pay the bills on time and the person decides how to spend the rest of the salary after that if you have decided to spend it completely it will turn later to a habit difficult to get rid of .
You may need that ‘’white cent’’ when an unexpected takes place so the finance experts advise you to put the living costs for 6 months in case of any urgencies .