7 ways you spend your salary carelessly.

7 ways you spend your salary carelessly.

It's common for civil servants. Before the end of the month, we already have plans on how we going to spend our salary, then finallywhen it arrives, mosttimes, we don't know where or how the money was spent.

1. You justify buying the cheap stuff

We think we’re saving money if we opt for the cheaper options but in truth, quality lasts longer. Looking at more expensive options as an investment rather than an unnecessary expense is a better mindset to have but we seldom think like this because in the moment more expensive equals more money.

Spending money on items that last rather than cheap ones that need replacing more often will save you money in the long run.

2. You justify buying items on sale

We’re led to believe that buying stuff on sale is saving money. If you’re in a supermarket and what you intend to buy is on sale, then great. But we can get caught up thinking we’re getting a bargain when really we’d never have bought that item in the first place were it not on sale! So curb unnecessary purchases – don’t get sucked in to the sale items and justify buying them because you believe you’re saving money – you’re not.

3. Your savings account is too easy to access

It’s so easy these days to with internet banking, to have easy access to our savings. While your good intentions are slowly piling up in your savings account, if it’s easy to get to, you can sometimes delve into it if you feel you’re down on your money.

So find savings accounts that aren’t so accessible and can’t be linked to your current account. This will help you think twice about transferring that money if it’s not so easy to do.

4. You don’t wait 30 days before big purchases

This is a good trick if you’re more of an impulse buyer. Impulse buying can drain our money extremely quickly and we can be very good at justifying why we need an item. If it’s a big purchase then do this 30 day rule before going ahead with it. You’ll be surprised at how much your mind can change in this period and often you’ll realize you probably don’t need to buy it or, even better, find a cheaper alternative in the meantime.

5. Don’t write lists of what you need before shopping (and stick to It)

This is similar to the impulse buying but more so when we’re food shopping. When you’re hungry, you will buy around 20% more food than if you went on a full stomach. Being purposefully mindful before you leave the house by making strict lists of what you need, will cut down more spending than you realize. Research recipes in advance and stick to only what you’ve written down. If it’s not on the list, it doesn’t make the cut!

6. You waste time finding cheap deals

The emphasis here is on time. We spend so much of our time researching in order to find the best deals and often in these moments the best deals actually pass us by or sell out. Think of time as money too – overthinking and overanalyzing can waste you money despite thinking that you’re ultimately saving it.

7. You don’t carve out time to declutter your house

Decluttering your living space is one of the best things you can do to save money. Not only because you can sell many of your old items and actually make money, but also it transforms the space in your mind as well. Once you realize that you don’t need so many possessions to make you happy, it will shift your mindset and make you more aware of unnecessary spending in the future.

Cultivating this mindset is what will save you the most money in the long-term and help you to re-evaluate what’s important to you. So adopt the mindfulness of spending your money to create a better way of saving it.

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