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:
- 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.
-
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.
-
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?
-
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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