Few people are the ones who manage their finances properly on a regular basis. Most people have experienced difficulties at least one time in their lives. For others, financial problems are always there and bad -money habits are to be blamed for it.
How to break your bad -money habits
Prefer prepaid credit cards
With prepaid credit cards you are the one who can determine your spending limit and therefore control how much you spend and where. If you realise you are overspending, you can easily reduce your spending limit to help yourself. This is not the case with other credit cards. Therefore, if you insist on using a credit card, opting for a prepaid credit card is ideal.
Never go shopping when you are hungry or depressed
If you go shopping when you are hungry or depressed you are going to spend more than you can afford in an attempt to fill the voids. The best way to resist temptation is to avoid getting tempted in the first place. Make a list of all the things you can do when you are feeling down (instead of going shopping). If you are hungry but you must go out, have at least a snack before you do. While it is not possible to go shopping only when you feel good and have a full stomache , choosing to go shopping when you are especially vulnerable is a recipe for disaster.
Avoid hanging out with friends who love to overspend
Hanging out often with friends who love to overspend either because they can afford it or because they can’t help themselves is going to hurt you in the pocket sooner or later. If you cannot convince your friends to engage in activities that will cost you less, it is best to keep a safe distance from them. It is better to be on the safe side.
Choose cash when cash is an option
With cash it is easier to keep track of how much you spend and where, therefore if you afraid you are going to overspend, using cash can keep you out of trouble. For even better results, try to carry with you only the exact amount of cash you will need every time.
Give yourself a couple of days to decide on a purchase
If you get used to giving yourself a couple of days to decide on a purchase, you will have the chance to carefully weigh the pros and cons and make the right decision. Two days are enough to realise whether the purchase you are thinking of is necessary or not.
The above outlined tips can help you break your bad-money habits with ease. All you have to do is making them parts of your daily life.