There aren’t too many people out there who feel like they’ve got a strong grip on their finances. It’s not that people don’t want to have their money under control; it’s just that, well, it isn’t the most straightforward thing in the world, is it?
There’s no guidebook that tells you how to navigate the month smoothly so you’re not running out of money before payday. But here’s the thing: many people end up spending more money than they need to be spending! Below, we take a look at some of the common reasons people’s finances are in a bit of a state – and offer some solutions.
You Follow the Brands
There’s nothing wrong with wearing branded goods in itself, but if you’re spending a large percentage of your income just so that you can have trainers, clothes, and other goods that have a branch name on it, then it’s problematic. The important thing to remember about branded products is that, in many cases, all you’re really doing is showing off the name to other people. The goods aren’t necessarily better, especially when it comes to staple foods. Branded sugar won’t be any better than non-branded sugar.
You Stick to One Store
We’re all a slave to our routines. We get into one habit, and then we just go with that the whole time. That’s probably why everyone has their favourite supermarket that they go to again and again. But if you’re not diversifying the stores that you shop in, then you’ll likely be spending more than necessary. It’s a good idea to mix it up every now and again; you might find that the staple you’ve been buying once a week is much cheaper elsewhere.
You Buy As You Need
And talking about products that you buy again and again…this might not be the best approach. It’s possible that you could make significant savings on the products that you’re going to buy anyway, just by buying multiple items in one go. Jet.com reviews often mention this; the more packs of an item you buy, the cheaper it becomes. If you know you’re going to use a lot of baby wipes, for example, then there’s little point buying just one when you could make big savings by buying twelve.
You’re a Slave to Convenience
We all crave convenience and comfort. But this is something that’s going to cost you, and if you make it too much of a habit, then you’re likely burning through some serious cash each month. Take eating food. Make it home? You’ll need to put in the work, but it’ll be cheap. Buy it on the go? You don’t have to do anything, but it’ll cost you many times more than if you made the same meal at home. While it’s fine to treat yourself to a meal every now and again, make sure it’s a treat, and not just your go-to option when it comes to getting your energy you need to make it through the day.