There are some common habits, that we can relate to each other – which causes us to spend more money unnecessarily.

These are the habits which we should discontinue soon to save some money and to be self-aware of ourselves financially.

Let’s see what are they,

1. Checking for deals and offers on a product that you are not going to buy

Often at a times – we tend to use our mobile phones or laptops just for surfing the apps of websites we like to visit.

Sometimes you may get accidentally landed on the shopping websites like Amazon or Flipkart. You may also find yourself looking for deals and offers that are attractive – which you might think that you are not going to buy.

But just because you have the habit of surfing this kind of shopping website – this might make you tempted to buy the products you are waiting for for a long period. You might end up purchasing products just because you have the habit of visiting the sites to check the offers and deals

So stop this habit – if you want to save some money for any other useful cause.

Tip: You can also add these websites to the Blocking list – so that you will only visit these websites when you consciously want to visit

2. Purchasing products – to keep updated with the latest models

Are you one of those – who always wants to keep upgraded with your smartphones or laptops (Or any other gadgets)? I think you should probably stop this habit.

The habit of purchasing things just to keep up with the latest version is the most efficient way to lose all the money you have. There is no harm in upgrading your lifestyle – but there should be a limit or frequency for how often you would like to change the gadgets you have.

Set a frequency of 2 – 3 years at least from upgrading your old gadgets until you have a real need to purchase a new one.

Tip: Check yourself – what is the new thing that will make a great impact in changing the gadgets from old ones to new ones. Only change it – if the impact is huge.

Because the technology companies are always going to release a new model very often. You can’t keep up the race of upgrading everything unless you are super-rich

3. Spending money on things that you think will be helpful in the future but not now

Most of the time we will see so many things that we think we might need in the future. Yes, we will indeed need those kinds of things in the future.

But remember this rule – keep the future purchases for the future itself. There will be so many things that will be necessary for the future but you can’t purchase enough for the future. And still, you don’t know what the future has yet to offer for you.

Some deals may be worth buying now which will turn out to be great in the future. But this does not happen in most cases. Most of the times the deals may be pleasing you to buy the product with a promising future, but you will just regret by spending a lot of money on unnecessary things

4.Purchasing in FOMO ( Fear of Missing Out )

Purchasing in FOMO is similar to the previous habit. FOMO stands for “Fear Of Missing Out”. Your brain might be tricked by marketers by placing fear of missing a great deal by giving you the limited time to think.

Mostly they will place a timer or countdown dates or stocks left that implies that it’s going to end within a limited period. Which makes you default to thinking faster and quicker. And in a result, you will end up making a wrong decision by a pleasing deal without thinking through the products.

Sometimes the deal in FOMO’s is worth it, but it’s your turn to make a correct decision by keeping the emotions aside and using your logic to it.

5.Doing shopping – Just because it gives you the pleasure

I have seen many people in my own life – who love to go shopping, just because it gives them joy. Well, it’s ok for sometimes, but this habit will not make you stay sustainable in the long run.

Because just like getting obese by eating more food – your brain will force you to spend some bucks for shopping to get relief from the anxiety that you have.

Tip: Track – how many times you go shopping just for pleasure and reduce it over the period

6.Spending digitally or using Cards often

Psychologically it is said that: We will spend more while using cards and less while paying the cash.

Considering the way of the seamless transaction – paying digitally or using cards can be considered as the best way. But when we use cash, we tend to count it and we will have a real-life element attached to it. And we will more likely to have a feeling of spending more – while providing cash to hands of the shopkeeper.

7.Not deciding a budget before going shopping

There is one important habit you should follow if you want to save some more money.

Just make a budget before going shopping.

Just make a list of things that you want to purchase and set a limit for the total price that you are ready to spend and only make yourself purchase within that limit.

8.Spending money – that you haven’t earned yet

This is the habit that you should always try to keep yourself distanced from.

Loans and EMI will make you spend the money that you have not earned yet.

Remember every time you use the loan and EMI that the money is someone else’s and you have to pay it back soon or else you are going to pay more than you have to for no reason.

Conclusion

Buying expensive things is also not bad until you are getting those with your own money.

But make sure you have the habit of purchasing things – only that you can afford.

Learn more about personal finance and track the money where you spend.

Because when you are self-aware about how and where you spend your money, you will be more like to make a good decision based on the data you have on you.