Last Updated on 2016-05-19 , 1:53 pm
It’s payday, and you feel overjoyed and over the moon, literally. Now you can go out and get that handbag, camera, smart phone or go on that dream holiday you’ve always wanted. However, when the end of the month comes around, you find yourself broke and having to survive on Milo and instant noodles.
You hate the idea of living from paycheck to paycheck, but you still do anyway because you can’t seem to save. At all. If you find your pockets empty every end of the month, here are 9 possible reasons why. Does any of these describe you?
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You don’t have a budget
Spending indiscriminately will land you in a pauper’s situation very soon. You have to sit down and plan how much you need for essentials and to settle debts each month, as well as putting a way some savings.
Too many impulse buys
Sometimes, splurging on the latest trends and branded goods isn’t the way to go. Plan your purchases and avoid buying on a whim.
Too many credit cards
Getting a credit card nowadays is easy as pie. The difficult part comes when you have to pay the bill at the end of the month. Cut up your credit cards, or keep one in a deep drawer somewhere and only use them during emergencies, This way, you won’t spend money you don’t have.
You eat at high end restaurants
It’s time to consider packing a lunch from home, or sticking to some hawker stalls or economy rice places. Treat yourself to a nice classy meal only two to three times a month.
You want to show off
All of us live in a society where we’re always compared or comparing ourselves with someone who has more. Learn to be content and don’t force yourself into debt trying to own the biggest and best branded goods out there just to impress friends or family.
You’re lending too much money out
Avoid lending your friends and family money if you have trouble keeping yourself financially afloat. Sometimes, you just have to firmly but politely say ‘no’.
Too many loans and debts
If you can, get the advice of a financial consultant to settle your loans by targeting the smallest ones first.
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You have an unhealthy but expensive habit
Giving up an addiction like cigarettes or alcohol will save you a lot of money on the long run, seeing as how expensive these items are.
You don’t compare prices
When making a purchase, however small, you should try to get the best deal, rather than buying the first of its kind you see.
Top Image: A and N photography / Shutterstock.com
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