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Easy Money Mistakes You’re Probably Making

  • November 16, 2016
  • By Nick Vincent
  • 0 Comments
Easy Money Mistakes You’re Probably Making

Unfortunately, we don’t have unlimited sums of money at our disposal – if you are like every other Jack and Jill, you have to work every day, for decades, to afford life itself. Therefore, money-saving should come as a natural and absolutely mandatory choice in everyone’s lives.

And yet, not everyone does it. What are the easiest money mistakes you are probably making too? We have some tips for you – so read on if you want to find out more, save more and live better.

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You don’t plan ahead

Everything money-related should be carefully planned ahead – from the smaller purchases (such as your weekly grocery shopping list), to the larger ones (such as changing big appliances in your home). Plan ahead, think things through, establish a budget and always stick to it. Scout for offers, save money with the help of coupons, do Black Friday the right way and you can end up saving a lot more money simply because you had everything well-planned before you entered the store.

You don’t renegotiate

The main advantage of a capital-based economy is related to the fact that competition is allowed. In other words, electricity companies, phone companies and mainly every other provider you are paying bills for all compete with peers in their industries.

What does this mean for you? That you can always renegotiate your contracts! Your phone company really wants you to be their client for another two years, your power company wants you to stay on their side, and even your bank wants you to be able to pay off your loans. Therefore, they will be all more than happy to renegotiate contracts and terms, so that you are satisfied with their services and stay with them.

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You buy things you don’t need

The main disadvantage of a capital-based market? You have everything at your fingertips – even a piece of plastic able to pay for them all. Therefore, it can be quite tempting to make a lot of purchases that don’t make much sense. That new pair of shoes may have cost only $20 (and of course, it was on sale, so you “saved money” too) – but how much will you actually wear it? It is, after all, a pair of fuchsia shoes you don’t wear every day – and they might not be the best quality either.

Buying things you don’t need can easily get you in financial trouble – so, whenever you feel tempted to spend money just for the sake of spending, revert to tip #1 above and plan ahead. Yes, it might be a bit difficult at first, especially if you are used to have a lifestyle where you give in to temptations.

However, once you have gotten rid of this very costly bad habit, you will realize just how easy it is to simply…say “no” to all those super-mega-offers on things you don’t actually need, use or even truly want.  Steer clear of temptations and you will end up saving so much money you can use for better purposes!

 

By Nick Vincent, November 16, 2016
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