and you're left broke...
Many of our habits are unconscious and come from lessons or beliefs that someone taught us at some point in our lives. What foods you eat, how you drive, or how you walk are learned traits that we pick up at some point in our lives.
This is the same with our spending habits. The way we spend money has a lot to do with unconscious habits that we learned at some point in our lives. In this video, I talk about "10 Habits that Destroy Your Budget."
1. Bein' a Sucka'
It is normal in our society to be ripped off by buying certain things at a high price and, it's not just normal, but people are bragging about it. Overspending on cars, phone, and food because of certain marketing strategies. Be conscious of marketing strategies to avoid being ripped off.
2. Identifying with Stuff
Many people are being ripped off because companies market their products as a status symbol or lifestyle, which leads many people to find identity through brands. This is, however, a very expensive habit, but can easily be avoided by not identifying with possessions.
3. Thinking You Can Pay Things Off
Buying something on credit keeps going by different names like layaway, credit cards, or afterpay; however, these are all the same things. If you can't afford to buy something now, how are you going to afford it in the future? Credit is stealing from your future self and can make it impossible to keep up.
4. Thinking People are Better Than You
There is a lot of pressure from society and social media to buy a bunch of things as you will see people who live happy lives with a bunch of possessions. We all have problems and, I think, when someone is telling you they have it all together it is because they are trying to sell you something. Consumption won't solve your problems because you will always have problems.
5. Wanting Things Quickly
A big problem that people have with money is they want to get rich quickly or get a service quickly; however, this often just leads to money disappearing or overspending. Society is becoming extremely impatient and this impatience translates to more spending for convenience. Patience is the key to success with anything worthwhile in life.
6. Being in a Rush
Being in a rush simply means that you have lost control. When you are in a rush you cannot think straight and are so focused on getting to the end destination. This translates to seeking what is easy and convenient, which normally costs more money. Living a calm and organized life helps you avoid the extra charges for easy and convenience.
7. Being Cheap
Being cheap is a habit that can cost you money because it often sets you up for buying the same thing again shortly. Sometimes when something is cheap, it does not last long, which will make you have to buy it again. Being cheap saves you money in the short run, but costs you more money in the long run.
8. Assuming Expensive Means Better
Many times when we are shopping, we assume that when something costs more, it is better; however, I believe that a lot of what dictates price is marketing and packaging. I go by the motto, "Same until proven different" because I need to be convinced that something is better not just by price and packaging. Do your research before buying something more expensive; instead of thinking everything more expensive is better.
9. Spending Money on Things You Don't Use
In today's world, most services come in monthly subscription services at very cheap prices. Since the prices are so low, even if we are not using them, we generally don't cancel them because they're so cheap. This is, however, just throwing money away on a service that you are not even using. A penny saved is a penny earned so don't throw away money on services you don't use.
10. Getting Excitement from Opening a Box
Unboxing is a trend that is similar to opening presents on Christmas. Most of the excitement comes from the action of opening the box, rather than what's inside the box. This habit becomes never ending and leads to a cluttered life. There is nothing wrong with buying possessions, but the joy should come from the possession, not the unboxing.
4 авг 2022
