7 Expensive Habits to Break and Make Some Money

habits

We all want to save money and have a good bank balance, but only few of us are successful in achieving our goals. Unknowingly, we are used to a few expensive habits that sabotage our plans of sitting on cash and kicks back all the financial planning. Nothing to worry, we all are human beings with our own desires and weak points. So, let’s know what financial experts are saying to make some money by breaking the expensive habits.

Don’t waste grocery

Make a meal plan for the entire week. When there is grocery at home, try not to pick up take away foodfrom outside. If you are not able to cook every day, freeze something for quick access. This way you will save money on buying outside food as well as utilize your already bought groceries at home.

Ask “Do you deserve it?”

Before spending money to buy anything, ask yourself “do you deserve this?” Spend money on things you afford by analysing your income and expenditure. Don’t go for reckless shopping of things because your peers are doing so.

Plan for a minimum saving before spending

Are you ready for your retirement with enough savings? Fix some monthly amount for auto transfer for your future. Looking at the increasing inflation, systematic escalation in the amount is also needed to meet the future requirement. What you are earning today is for your future also.

Don’t throw important receipts

You might save a little more by getting tax rebate. If you are careless enough to throw your important bills like medical bill, house rent bill, child education bill, bill of some charity, then you are doing a mistake. These all can be used at the time of filing tax.

Don’t throw old but useful items

To give a new look to your house, you might need to remove the old one. But buying new costs a lot. So look if it can be renewed or renovated? Try not to throw, still if needed, try to sell on olx, quickr or through a facebook page. Not only this, you can even donate useful items to registered charity trust and get a receipt to produce at the time of tax filing.

Remove extra cards

If you are having too many credit or debit cards from different banks, you are paying too much for their renewals. So have limited number of cards to save extra payment you are making to service providers. Not only this, using a single card for all the payments get you rewards points which you can use to get discounts or you might get some free gifts.

Stop comparing to others of your status

If you spend because others of your rank are also spending too much, you might be making a mistake. You never know, they got extra money from inheritance or have an extra side income. So be watchful for your expenses and not others.

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