How to Change Your Unhealthy Spending Habits
With a slow economy and a number of other factors, like debt and high overhead costs, it has never been a better time to curb our spending habits. These habits can range from moderately habitual, like quick online impulse buys, to completely compulsive, like collecting something you don’t need or over shopping at the market. Most of the time we don’t even know how much we’re spending, because we don’t accurately budget, which can leave us in debt or owing big money to our credit card company. As adults, we owe it to ourselves to make the best spending habits so that we can afford the things we need, like shelter and food; who knows, maybe one day you would like to put down money on a house. Here are some ways to change your unhealthy spending habits.
First up, according to consumer researchers, people spend the most money on online shopping sites. This is mainly due to the fact that many of these websites use complex algorithms, which generate more personal search results or present you with more products or services that you would like to buy. One of the best ways to change your habits is to not visit these sites, but for some of us, the temptation is just too great. In this case, you can always use blocking software that will make it impossible for you to visit the site, unless you disable the firewall.
Another great way to curb your spending habits is to use any one of the budget apps and websites that will monitor your spending for you. Some of these websites and apps act like your own personal money manager. All you have to do enter information, like your monthly personal income and all your bills, and the calculator will do all the rest to find out how much you have left over and will even monitor your bank account to make sure you are not over spending. You can check out this link or do a simple search online to learn more about many of these great apps and websites.
If you are a smoker or a big drinking, or even big gambler, you can save yourself a fortune first by cutting out your addiction. With the rising cost of cigarettes it is literally causing millions of people to go broke just to feed their addictions. For gamblers, taking steps to stay away from casinos and even speaking with a counselor can help tremendously. Psychologists say that gambling is one of the most expensive and dangerous spending habits, because it is cyclical and doesn’t stop until the individual gets help.
Lastly, it always helps to budget, but when you do add up all your expenses make sure to double it every time to give yourself some wiggle room. All too often we budget and don’t give ourselves enough padding to fit in the emergency and rainy days costs, like healthcare expenses or an unexpected bill. One of the best ways to change your spending habits is to take the necessary steps to save as much money as possible.