Accounting for expenses and income will help you understand where the money goes, what you could avoid costs, and how much from your salary you could save for a significant purchase. And no matter how chaotic your finances are, it’s never too late to fix the situation. At least once a year is led by super-profitable offers and spending money on something that will not bring any benefit or joy. Habits can and even need to be adjusted to suit your goals.
Throughout our lives, we acquire many habits, some of which are forgotten due to uselessness, and some new ones come to replace them. So, it is essential at some point to realize them and sort and analyze them. Procrastination (postponing things), going to bed late, looking into the refrigerator late, taking loans, debts unnecessarily, spending the last money on a card before a salary, blaming a neighbor or a boss for their troubles – all these are also habits, which, however, do not lead to development, but degradation. But there are a few tricks that will help you resist the temptations of marketers:
Read The Price Tags Carefully
Often, they write the cost of goods per 100 g, although it may be of greater weight. Or they attach red tags to the price tag, and the buyer thinks this is a discount out of habit.
Soberly Evaluate Marketing Promotions
Most often, sales and promotions are a way to get you to buy at a discount what you don’t need at all. The label “two for the price of one” certainly pleases the inner miser, but perhaps you don’t need this thing even at half the price.
Don’t Take on Too Much
In supermarkets, popular departments are located so that you move around the halls if possible. Marketers expect that by the time you reach, for example, from the dairy department to the meat department, along the way, you will pick up goods that you did not plan to buy. Put what you need in your shopping cart. To do this, make a shopping list in advance and strictly follow it.
Pause
Motoko Hani, who came up with the Japanese family budgeting system Kakebo, is sure that you should not immediately run to the checkout with the thing you like. It is better to postpone the purchase for a few hours, days, or even weeks. And after the allotted time, again ask yourself the question: do you need this thing.
Follow A Financial Plan
Without a well-thought-out financial plan, this is much more difficult to do: now and then, there will be a temptation to spend money on trifles – and, as a result, you will lose your financial course. Start by forming a list of your top goals for the year. For example: buy an exercise bike, make a long-awaited repair, and buy a car. Immediately designate the amounts that you will need to realize these desires. Then evaluate your capabilities: what are your income and expenses, and how much can you save per month. Think about whether you can save for all your dreams simultaneously or if you still need to prioritize. You may have to cross something off the list: you won’t survive another year without repairs, and buying an exercise bike can wait.
Handle Debt Carefully
If you have no time to pay off the loans, you can try to revise their conditions. For example, combine all loans into one and refinance them. If you take a loan, first evaluate whether this money is needed right now and how you will return it. You should not take on obligations if you are not sure that you can pay your creditors on time. You may be asked for a loan. It’s not always convenient to say no to an old friend. But it is better to assess the situation soberly. No wonder banks carefully study customers’ credit history before giving them a loan. Lend only the portion you are willing to lose. Or get a guarantee that the money will be returned to you – for example, take a receipt.
Read Contracts Carefully
Some books, such as those about Harry Potter, are ready to be read repeatedly. But at least once to carefully read a tedious and complicated contract, on which the fate of one’s own money depends, seems already an impossible task. By saving 10 minutes to study the contract terms, you are likely to spend much more time and money trying to fix the unpleasant consequences.
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