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B013PS - BGwk26 - Reasons behind overspending – Avoid this issues to save your wallet part 1

Reasons behind overspending – Avoid this issues to save your wallet part 1

Hi folks…In this article I am discussing about the reason which prove us to spend most of our monthly income. Learn how to recognize these reasons and enjoy these money saving ideas.

 

The most common reason for an individual to not saving enough is lack of self-control. But seriously, is it so problematic that a person can not handle it properly? No, it will take serious attention and a lot of self-control as well. So, what happens is, whenever you have a sudden costs to cover urgently, you’ll forget everything else, even your other priorities like education and medical costs.

So, it is clear that there are many reasons which will force you to spend without any limit. But actually, if we try to reduce those reason first, in spite of trying to save money, we will come out with flying colors definitely. So, here goes some of the main reasons which will poke you to spend without thinking for tomorrow :

  1. Maintaining high status – many people think that if they will not follow the high status just like their neighbors, then the neighbors would avoid them. ThIs is totally the inferiority complex, nothing else. Actually the neighbors are also thinking the same way and they are continuous.
  1. Keeping company – In today’s trend, many people love to enjoy dinner, discoes, shopping and many more activities along with friends. They think if they not spend enough money on their friends, their friends will drop them. It is a totally misconception, if you can’t afford to spend on them, and they leave you for that, do they should be called friends?
  1. Funds are coming – many people spend a certain amount way before they actually getting that amount in hand. Suppose you’ve won a big amount as prize money. For that reason, you may decide to buy a new laptop for your son. But do not buy that gadget from your own pocket using credit cards. This way you are only increasing your personal debt burden. You must use your prize money when you get the cash amount in your hand.
  1. You don’t feel credit card – It is true, people doesn’t feel while spending through credit cards. plastic cards definitely not feel as much as old paper cash. For this reason people use cards more often and tend to over spend.

To be continued…