Financial Habits You Should Drop Like They Were A Hot Rod

Let’s look at some of these bad habits that prevent us from controlling our budget as we would like.

1. Buy without comparing

This is perhaps the most widespread bad financial habit of everyday life. Even when one is aware that it is better to compare before buying, one tends to forget. Or we assume that it will take us too much time. Still, it’s not about comparing for hours but just doing it. Most of the time, it’s just a few extra minutes to the supermarket to compare new brands or a new format.

You think you are not concerned? Stop for a moment and think about the products you are used to. This can for example be your coffee, your yogurts or your household products. When did you try a new brand or format for the last time? Unfortunately, we often forget to compare and for convenience, we often leave with the products we usually buy.

But if we compare prices and test new brands or formats, we could achieve significant savings: from a few tens of dollars per week to a few hundred dollars per month. For higher value purchases such as appliances, furniture or electronic equipment, comparing can save you a lot of money.

2. Always buy new things

Many of us buy only new things, while opportunities in some areas can save you a lot of money. Buying used products is not always synonymous with old or less reliable. Just choose its sources and areas where you can buy used to pay less. Here are some acquisitions that are worth looking for first in the opportunity before embarking on the purchase of new items:

  • car
  • home appliance
  • data processing
  • books
  • leather goods
  • furniture
  • two wheels
  • video games
  • designer clothes.

3. Thinking that buying more expensive is a proof of quality

We often hear around us “if you want quality, you have to pay the price”. It is a habit that many inherit without even thinking about its truthfulness. More expensive products are not necessarily of better quality. Sometimes you pay more for a certain brand. While the quality or features are the same as a similar product much cheaper. So thinking that the price of a product is a guarantee of quality is a bad financial habit.

4. Believe that discounts or deals do not save a lot of money

Another bad habit is to think that in any case it is not worth comparing, looking for discounts or taking advantage of deals because the savings they generate are not significant and that the waste of time is not justified.

Saving allows you to achieve what you want without tightening your belt!

Managing Your Personal Finances