4 Bad Spending Habits You Need to Break Right Now to Save Money

If you are unable to save money despite having a reasonably high salary, you could be wasting it on bad spending habits. Many people admit to doing the following spending habits: 

1. Shopping when there’s a sale.

A sale gives you the illusion of spending less money. A sale can also be tricky because it can lure you into buying stuff you don’t really want or need. Some sales might also require you to buy another item to get the discount so instead of saving, you’re actually spending more.

2. Buying on an impulse.

Impulse buying or buying without planning is a big reason why you’re not saving enough money. When you buy on a whim, you are unable to be smart on your buying decisions and end up buying stuff you don’t need.

3. Buying stuff and not using them.

How many times have you bought fresh produce only to have them rot in your pantry or fridge because you were unable to use them before they perished?

4. Shopping only premium items.

Premium items cost an arm and a leg. Sadly, we live in a world where brand is such a big driving force. Many products have the same features, results and functions but differ in price due to brand name. If one brand is more recognized, it tends to cost more as a means of compensating for advertising costs.

Becoming more vigilant in buying is one step towards reaching your financial goals. Do Financial Planning in Vancouver with the help of experienced financial planners such as Chalten Fee-Only Advisor. Financial planning in Vancouver helps you avoid common spending mistakes. 

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