There are many needs in this life, and every need requires money. But, don't overspend. Otherwise, you may only have little money left until the next paycheck. If it only happens once or twice, it’s totally fine. But, if it continues, it can be dangerous for your finances. Let’s get to know 4 spending habits that can make your finances unhealthy.
These 4 Spending Habits Can Lead to Unhealthy Finances
1. Spending money haphazardly
This spending habit usually arises due to living an undisciplined life. For example, you spend money to buy breakfast because you wake up late.
In fact, if you wake up on time, you can prepare breakfast at home. Making your own breakfast will be more economical.
So, how do you avoid spending haphazardly? There is no other key than to train yourself to be more disciplined.
2. Spending money because other people do too
This spending habit is often influenced by the environment. When you get together with friends, you are ‘forced’ to buy snacks or drinks. Actually, you don't really want or don't plan to buy. Your friends may think that you are stingy.
Or, sometimes you buy things because you want to impress your friends. So, you end up having things you don't really need. Relationships are important. But, you need to consider the impact of social overspending in the long term.
To overcome social overspending, you can take the initiative to invite friends to do something at a minimal cost. For example, inviting them to your house to watch movies together.
3. Spending money because of temporary urges
Resisting temptation, particularly shopping temptation, is not an easy thing. There are so many interesting products, especially if they are discounted. You definitely want to buy them right away.
If you are often tempted like this, when you grab that product that you want to buy, just stop for a moment. Ask yourself, do you really need it? Are there other more important needs?
Another way you can do to avoid emotional spending is by setting a budget for shopping for discounted products or simply products that you desire.
You can create a separate Pocket for this need in the Jago application. Budget can be set after the Pocket is created. When you have no money left in the Pocket, this means you have to hold yourself back until next month.
4. Spending without keeping track
It’s very dangerous when you don't know for sure where your money goes! You can pay the same bill twice because you forget whether you have paid or not. You have no idea whether you can save more money by eliminating some unimportant expenses.
So, if all this time you have never or rarely kept track of your expenses, you can start doing it regularly. Fret not, you don't need to have a thick book to record everything manually.
The Jago application can keep track of incoming and outgoing money in detail. Every expense, even the smallest, is recorded by Jago.
You can download transaction history at any time. Every time there is a new transaction, the transaction history will automatically adjust. So, the transaction history that you download is always the most recent.
Let’s start reducing then completely stop the 4 spending habits above. To manage finances easily, practically and smartly, you can download the Jago application here.
