How to avoid your bad spending habits

It’s finally 2019 and you want this year to be the best year yet. Consider these tips to avoid bad spending habits and maybe you can finally save up for that trip you always wanted to take. Most Americans have trouble with debt so do yourself a favor and try these tips to help save some money. That dream vacation will thank you later!

Always create a budget

Creating a budget for every aspect of your life is not only beneficial to fit your financial needs but will also help from overspending. Make a budget for all your needs first such as bills, food, vehicle, medical and retirement plans. After all your needs are met, you can then move on to wants. This of course only applies if you have any money left over.

Limit credit card use to a max of three

If you can’t buy it in cash, then most likely you cannot afford it. While a credit cards purpose is to help you build your credit, it is important to have no more than three credit cards. You must also stay on top of your payments and make sure you are paying everything off before you start getting charged interest rates. It will only get harder to keep up a good revolving use or inquiries.

Opt out of email retail subscriptions

The morning you wake up and check your email, you might find yourself finding a “hurry it’s on sale” advertisement by your favorite store, clicking on it and soon enough scrolling through items and adding them to your cart. While retail therapy sounds fun, avoid the marketing distraction by unsubscribing. This will help reach your budget goals faster and help you focus on what is important.

Shop wisely

Do your research before you buy any item whether it’s something big or small. Look for coupons and discounts as they always help you save a few bucks. Sometimes certain items are better off purchasing once the season is over and the item is on final sale. Always ask the store if you can price match an item. Also, compare if you were to buy something in bulk vs bi-weekly or monthly. Just because a store special says five for five dollars, does not mean you need to buy all five items if you are not going to use those five items. It is best to buy as you need not as the store wants. Smarter shopping is key to ending those bad spending habits.

While all of these tips are doable it can be hard to get the ball rolling and sticking to a budget. Make sure you contact us at Care Financial. We are here to help you set up insurance and retirement plans to fit your financial needs with our professional staff. Let us care for your future! Call us at (251) 633-7122 or schedule a free consultation by visiting our website at carefinancialonline.com.

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