6 Habits that Jeopardize Finances Without you Noticing

Does your money always run out before payday? Do you always try to maintain a budget but fail repeatedly? Here are solutions to six common money problems.

If you are millennial, you may be bothered by this stereotype: a young man obsessed with selfies, who loves fast-chain coffee, vacations and the latest model of smart phone.

But what happens when it comes to saving money? You may not even be aware of the different ways your finances are in trouble or how to deal with them.

Here are some easy-to-follow tips:

#1. “Culture of Comparison”

We live in a “culture of comparison” that constantly measures our value against people who live their lives on social networks and who are probably surrounded by luxury products. But they don’t show us anything real.

Kim Kardashian is just one of the influential people on social networks whose lifestyles are closely followed by millions of people.

The solution? Stop following them and find people who inspire you in ways that don’t involve buying to feel better.

#2. Spending money 24*7

In the past, you were limited when it came to buying. You could only do so during business hours, which usually went from Monday to Friday and Saturday mornings.

Websites like Amazon allow people to shop with a single click, making it even easier to spend.

Now? Internet shopping lets you spend money on your phone while you’re bored watching Netflix on a Friday night. To curb your ability to spend 24 hours a day, 7 days a week, set limits on how to shop and when. This could include spending only at certain times of the day, so the next time you get bored sitting on the couch in front of the TV, you’re not at risk.

Studies show that we don’t see credit cards as our money, so we spend more than we should.

#3. Easy access to credit

These are not just credit cards, but also “pay-day loans” and increased facilities such as “buy now, pay later”. Studies show that we spend more when we use credit cards (at least 10% more) because we don’t see them as our money.

If you have more than one card, if you rarely pay for your card each month, or if you pay for your card with your savings every month because you overspent, make a firm decision not to use credit. Destroy the cards and follow the old school of using a debit card.


Choosing where to invest our money can be overwhelming, so it’s important to first understand our financial patterns.

#4. Paralysis by analysis

There are so many food choices today – vegan, vegetarian, high-carbohydrate, low-carbohydrate, high-fat, low-fat, organic, or just eat fruit that fell from the tree? Is it any wonder we’re confused when it comes to food choices? It’s the same with our finances.

Living a life by design instead of a life by inertia gives us more control over our money.

There is often so much information about how we should save and invest that it is very difficult to make decisions. That’s why we have to go back to the basics. We need to study and understand our spending patterns and life goals. Once we do this, we can design how to save or invest properly.

#5. Living a life by inertia

Many of us are living a life of inertia and woke up one day (often in our mid-30s) asking, “How did I end up here?”

It is recommended that we pay attention to money in order to become more aware of our unnecessary spending patterns.

Instead, think about becoming a conscious consumer and living a life by design. Ask yourself, “If I could design the life I want, what would it be like?” Then find out what you can do today to make it happen.

Of course, to stop your predetermined spending, you should consider a 30-day detox that only covers your basic needs and then re-establishes your spending habits. This should make you a conscious consumer again.

Living on just one wage can prevent us from achieving long-term financial goals.

#6. Salaried slave

Many of us live off just one source of income, spending most of what we earn the day after payday. Instead, set up your accounts so that you “eat not just from a large bowl, but from a group of smaller bowls.

Dividing our money into different accounts makes us more aware of how much to spend.

This could include a daily account, a bill account, a savings account, and a waste account. Automate your income to be split between these accounts and then spend only what’s in your daily account for your daily expenses. Then start figuring out if you can find more revenue streams. This could include part-time work, investments, property and more.

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