5 Spending Habits to Leave in 2018!
Before we begin 2019 it is important to know where we want to go and what we want to accomplish in the new year. Find your money goal for 2019 and create a plan that works for you! The first step to creating good habits is breaking bad ones. So, let’s talk about some bad habits that need to STAY in 2018.
1. Impulse Shopping
Do you want to know where the devil is? In the mall, right after you get paid, so don’t even go. Impulse shopping happens when you have the resources to buy things but lack the will power to not buy them. If you come across something that you want to buy, don’t buy it right away. Wait 7 days and if you still really want it, then buy it. No matter what it is, if you really want something, you will still want it in 30 days so don’t buy it right away!
2. Dipping Into Savings
I was saving so much money in June 2018 and then I dipped into my savings ONCE and haven’t saved any money since then. It is so easy to break your savings streak once you start using those savings. To prevent this, I suggest opening a savings account (if you don’t already have one) before the new year. This will force you to be disciplined for a few reasons. First, out of sight out of mind. Second, you won’t be able to take money out of your savings as easily. Finally, you will start to be in better control of your savings.
3. NOT following the budget
When you plan things out, the results are usually BETTER. Before you spend any money make a REALISTIC budget! If you know you like to go out a lot, put that in the budget so you have a realistic idea of your spending. Of course, keep in mind it is still a budget, but don’t make a plan that you know you won’t follow.
4. Eating out too often
Let’s do the math for this one:
I usually you’ll spend about $60 -$80 a week for groceries.
When eating out, I usually spend $15 – $20/ day which comes out to about $105 – $140 a week.
That savings comes out to $45- $60 a week!!
You’ll save way more money by eating in!
5. Brunching with friends before paying bills
Even when you know what expenses you have to pay, people are more inclined to push off their expenses until they HAVE to pay them. Don’t do this anymore. Pay off the expenses as soon as you can so really know how much you will have for other things. This habit is not good and it can get you in trouble if unexpected expenses come up.