After hearing and reading lots of finance tips which I would not get tired of sending, you have probably taken time to practice some and realised you’re kind of just going in the same circle, this could be some of the problems. In this article, we reveal to you several tips on how to avoid struggling with your personal finances.
The first tip on how to avoid struggling with your personal finances is to stop impulse buying. When you go shopping ensure you go out with a list to avoid buying things you don’t need. If you’re shopping online, give yourself time to really decide if the item you want to buy is something you really need or if you can get an alternative.
You’re not Playing the Price Check Game
Here’s another big one on how to avoid struggling with your personal finances. You know when you follow your mum to the market and she has to go to three different shops to price rice or something. That’s exactly what I am talking about. Do a price check. Check different stores for the price of an item; see how much that would save you before buying.
Trying to Impress Friends and Family
Another tip on how to avoid struggling with your personal finances is to stop trying to impress people. We sometimes buy things we do not need to impress friends and family. Things like Asoebi, hangouts we can’t afford, gadgets we want to boast about and others. This habit can harm your finances in the long run and the funny thing is most of the people you are trying to impress really don’t care and if they do, so what!
Wasting time is another tip on how to avoid struggling with your personal finances. Investment is simply time. It’s as simple as that. We sometimes waste time in making decisions like investing and every second count, while you’re wasting time someone else is making money already. The better time to start was yesterday, the best time is today.
You Haven’t Made Saving a Lifestyle.
You still find it hard to set aside a portion of your income to save, you haven’t made savings a lifestyle yet hence why when in an emergency situation you always find yourself in a mess. You can improve by creating an Automated Savings Goal with Apps so you get debited as soon as you get paid. Apart from savings, you can also start investing a part of your income.