What we earn is mostly what we spend. Many spend their money without a budget and scream and whine when their finances begin to dwindle. That habits that we have created within ourselves with regards to how we spend our money can break or make us. Most have the problem of spending within their means. Many find themselves in a tight corner just because they couldn’t say no to that flashy car or that thousand dollar jewelry they know they should not even be looking at not to talk of buying. Just like many bury themselves deep into debt just to satisfy that yearn that has nothing to add to their personal finance or to their life for that matter. Many calculate what they spend at the end of each month and wonder why their money had gone and even what they had done with that thing they should not have bought but had bought anyway and is not lying unused in a box in their room.
Casual spending is not a friend to anyone and it can easily put you into trouble. It is something that can land one in bankruptcy left with nothing but the useless purchase of a life time that has no value to add to our life. There are a few things we need to check when determining our spending habit. These are:
We need to see the wrong in what we are doing. We need not hide behind ignorance of our actions. We should know that it is not going to help us if we do not find solution to it. If you are I debt already, we need to pay it all off and then develop another healthier way of dealing with our finances.
We need to know how much we spend at any particular time. Be conscious of the amount of money that is being paid for any thing you are buying so as to help you determine if that amount is worth it or if that thing is worth having. You need to map out ways to evaluate what you are spending each month and why you are over spending if you are. Know what you need and calculate what you can get when you turn away from that thing that you want but do not really need.
Re-evaluate your lifestyle now. Invent new ways of handling your finances. This is something that will give you a new meaning into why and how you are spending what you are not supposed to. Get a new lifestyle that is healthier for your pocket. Design some kind of specification on the spending decision you make. Be careful with how you dish out your credit card and what you use it to buy. It easy to over spend when you know you can get it on credit.
We as women have problems with how we spend out money and it is high time we learn the hot to of a few financial management that can help in our day to day purchases so that we can see the error of what we do as clear as possible and this will be the first step towards a better habit.