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Tips
to Help | December 29, 2014
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Most of us have little habits that
make it hard to save extra money on a daily basis—but we might not even know
what they are yet.
When we get caught up in a routine
that we feel works well for us, it’s hard to break free or change it up. But
our set schedules might actually be stopping us from saving money.
These dirty little habits only
become amplified when you factor credit cards into the equation. Like we’ve
mentioned before, credit cards make it easier to forget where our money goes.
Before New Year’s starts, it may be
wise to make a resolution to save extra money, but it’s important to figure out
exactly what’s holding you back first.
Here are a few things we routinely
do that make it way too easy to spend more:
1.
Online
Shopping: The easiest ways to get hooked on
shopping online, downloading, and signing up for monthly subscriptions, are the
huge deals and discounts. There’s nothing more appealing than seeing “Buy One
Get One Free” or “Buy Now & Get 50% Off” flash across your screen. These
enticing sales will often suck you into subscribing to your favorite retailer,
so you always receive alerts for the newest bargains. But online shopping is a
slippery slope that can quickly cause you to start buying things you don’t
need, and putting those unnecessary expenses on a credit card. If you don’t want
to fall down the rabbit hole of credit card debt, then we suggest that you stop
subscribing to these shopping sites altogether. If they’re not constantly in
your face, you’ll be less inclined to shop for no reason.
2.
Eating
Out/Drinks/Coffee: If you work in an office where
it’s easy to go out to lunch every day, then you probably will. Soon, you’ll
become a regular at your local sandwich shop, and that measly $6 a day will add
up to at least $120 a month! Add this to a daily Starbucks habit and after-work
drinks with your co-workers, and you’re going to start creating a pretty big
bill for yourself. If you want to start weaning yourself off of this habit,
then try paying for these extras in cash from now on. Credit cards make it easy
to spend without thinking, but paying in cash will make you think twice about
what you’re spending. After a couple weeks of really seeing what these extras
are doing to your bank account, you’ll start making your own lunch and coffee
at home in no time.
3.
Wandering
Aisles: We see this situation time and
time again at grocery stores and while shopping at the mall. You walk in for
one item (or just to browse), and you end up leaving with a lot more than you
bargained for. Once we walk into a store, we get it in our heads that it wouldn’t
be worth it to leave without buying something. That’s just not true. If you’re
just browsing the mall on your lunch break, or you just went into the grocery
store to buy one apple for breakfast, then you absolutely should leave solely
with whatever you came to buy. The best way to avoid this grocery store habit
is to give yourself one shopping day a week—after making a detailed list of
exactly what you need first! As far as the mall goes, it’s probably wise to
just avoid going when you don’t need anything.
4.
Late/Minimum
Credit Card Payments: Paying the
minimum on your credit card bill is the easiest way to start spending on the
wrong foot. Still, there is something worse you can do: pay late. It’s so easy
to forget when your credit card bill is due, which is why you should always
write it down. If you still don’t think you’ll remember, then it may be best to
set up an automatic payment plan. Making late payments is the surest way to
ruin your credit score. Not only will your interest rate go through the roof,
but your minimum payments will also go up every month. Always make sure to stay
in the loop with how much your credit card payments are and when they’re due.
The way you use your credit card can make the card your best friend or your
worst enemy, so it’s important to always pay the right way.
How do you stay money savvy in your
daily routine? Let us know in the comments!
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