Getting paid on Friday and being broke by Saturday is a shitty reality a lot of us have experienced at one time or another.
It feels even worst when you realize you might be the reason behind your own financial sabotage.
There are always ways that you can improve your financial situation, and the first step is usually identifying where you’re going wrong, and then seeing what you can do to change things.
Let’s look at the telltale signs that you are bad with money, maybe you’ll recognize some of these traits in yourself.
Giving you the perfect opportunity to change your poor money management habits for good!
We all like to go out on the weekend, let our hair down and enjoy ourselves. Whether it’s going to a club, bar or fancy restaurant for a meal and a few drinks, some of us enjoy the nightlife.
A night out is fun but ask yourself “Do I really have the money for a night out? Socializing can be an expensive hobby.
If you find you have a great social life but struggling to repair the damage done to wallet from the bar. You probably suck at managing money. Consider having friends over instead of going out.
Actively look for free ways to enjoy yourself. You never know what your new favorite free hobby maybe.
A takeout is nice for a treat, but when you start ordering them every day you may notice your bank balance slowly declining. Do you have an addiction to Uber Eats or fast food in general?
Delivery food apps hike up the price s on everything from the food to the delivery itself. A $23 salad is never worth it.
I know these apps often save you the stress of cooking a meal and offer lots of tempting foods to choose from. Resist temptation!
Instead, download a cookbook app to provide all the tools you need to create delicious meals that fit your lifestyle and budget.
Shopping Too Much
Being a shopaholic is an expensive habit. If you are sliding your debit card every week on new clothes or other trinkets, this is a huge sign you are bad with money.
Impulse buying is usually the root cause of overspending when shopping. An easy fix to this problem is being more creative with what you already have.
You don’t need those new shoes or that handbag. Challenge yourself to put together a new outfit with pieces in your closet you forget about.
If you absolutely must spend the money, the shop at thrift stores or consignment shops.
Forgetting About Bills
So you spend so much on bullshit, that you forgot your phone bill was due until you got that disconnection notice? Relatable. Forgetting to take care of important bills is a hint you have poor money management.
It can be hard juggling our day to day life and trying to remember when everything is due. Try setting your bills up for autopay. This will insecure you never miss a payment.
You can also set reminders in your phone of your bill due dates. This is a good alternative if you don’t want to do autopay.
Are you a subscription freak? Do you have Netflix, Amazon, Hulu, Apple Music? Need I go on?
Most of us do these days, but do we actually use all these platforms equally? This could easily add up somewhere between $50-$100 per month alone.
So it might be worth canceling subscriptions you are not using. This includes getting rid of old gym memberships you never use.
Opt for free music services and try to narrow it down to only one entertainment subscription service. Your bank account will definitely notice the difference.
Make The Change
You can do it! The sooner you realize your poor money management habits the easier they will be to correct. Cut back and get resourceful!
There are so many free and cheaper alternatives for just about everything. It might take some time but practice makes perfect!
Are you bad with money? Which one of these are you most guilty of doing?
Tell us in the comments!