This is actually the best way to join the lot of busted (poor) men.
A small leak will sink a ship.
You’ve noticed how many stores together with the banks have come up with ways in the name of convenience, to allow you to pay at the counter using your ATM card.
You are more likely to overspend bringing a credit/debit card with you at the mall than when with cash.
Most stores have taken note of this and are adding cards from more and more banks to those on their accepted card’s list.
LEAVE THE DAMN CARD AT HOME before you find yourself on the streets begging.
2.Carry ‘just enough cash.’
People like the idea of SHOPPING WITH A LIST but in my opinion, it is far much safer to bring with you JUST ENOUGH CASH.
Have you ever just gone out with absolutely no plan to buy anything then you got back home with something on your hands and an empty wallet?
Maybe you went to the mall with the thought of spending $20 but left with items worth $30.
That $10 difference is a lot of money if you were to repeat overspending every time you go shopping for 10 years.
There’s nothing like I MIGHT LIKE SOMETHING AT THE MALL.
If that item that YOU MIGHT LIKE AT THE MALL was important, you’d have liked it from home and planned to buy it.
So carry just enough cash.
Men with the tightest purse strings happen to be the richest.. and the perfect example is THE ORACLE OF OMAHA.
That’s Warren Buffet for those that don’t know and if you don’t know Warren Buffet you are crazy.
Well you are not crazy but you should try to learn something from him.
3.Do not fall for ‘clever’ pricing strategies
Some marketing tactics have been devised to make you think that you will save money if you buy this big item as opposed to the smaller one.
Some will tell you to buy a pair of shoes at $20 then tell you that if you buy the second pair, they’ll charge you $30 for both.
It becomes too good to resist, so you end up buying both.
What else do you call OVERSPENDING if it isn’t that?
You did not plan to buy the two pairs in the first place.
It’s what I call OVERSPENDING THINKING YOU GETTING A BARGAIN.
This goes hand in hand with buying CLEARANCE MERCHANDISE.
The issue with the clearance rack is that the items are limited.
This will make you think that IF YOU DO NOT PURCHASE THE ITEM NOW, YOU’LL NEVER SEE IT AGAIN.
This kind of thinking makes you less rational about evaluating your purchases hence spending your hard earned money on things that you didn’t want or need altogether.
This is where the shopping list comes into play.
Buying the only items which are on that list.
4.Health and lookslooks
I always see people going to the gym every now and then.
Going to the gym is not a problem.
The problem comes in when you are watching weight and forget to ‘watch’ your wallet.
The promise of attaining that ‘look’ kind of impairs your judgment so you end up doing ‘what it takes’ to attain that look.
WHAT IT TAKES here is to mean buying any product you are presented with to attain the ‘look.’
Last year I went to a certain store which deals with steroids and such stuff.
I wanted to ‘get the look.’
When the salesman was advising me on how am going to be using my supplements he started telling me of how of benefit it would be if I used some other products alongside the one that I was going to buy.
All those products would cost me $100 dollars monthly.
Good thing, I had some knowledge on saving so I decided to buy the one product which had taken me to that store and quit later on.
It was doing more harm than good to my wallet.
Most people think that the December holidays like now ,are the times to cash out.
So they end up overdoing it.
Then the December holiday offers kick in, giving you enough motivation to spend.
If you do not plan on how much money you’ll spend and on what things, you might find your self on the streets on January.
Always have a budget.
You should quit looking at a budget as a saving plan but a spending plan.
Having a budget enables you to keep track of your finances
Each dollar that you spend on something that you can live without can take you to the streets begging just as surely as a small leak would sink a ship.
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