5 Ways to Change Wasteful Habits

[Suba]

The habit of extravagant living is part of personal finance which is often unnoticed because it is a habit and is often considered normal in one's life. This wasteful habit will certainly be difficult to change or eliminate in a short time, therefore we need a gradual process, especially accompanied by commitment and strong will. Here are some ways to turn extravagant living into a frugality life habit.

1. Make it a Routine
Everyone has a different way of managing their personal finances, but it's always a good idea to keep track of your expenses every week.
2. Record expenses and Perform Analysis
Check which expenses you don't need, and control and manage expenses
3. Save slowly
Don't make extreme savings because it might stress you out, but do it gradually and in a planned way.
4. Change old habits into new habits
To start a frugal life you have to change your life patterns and habits. like if you are used to enjoying coffee at a cafe it would be better to make your own coffee at home.
5. Avoid temptation and solicitation of friends
It's hard to refuse a friend's invitation to enjoy a nightlife that will cost a lot of money, but you have to be able to decline in a subtle way.

 

[Mika]

A lot of people do not realize that they are making unnecessary spending on food and clothes. Well, food and clothes are essentials, however, many people are wasting money buying unnecessary food items and clothing items. If you try, you can actually cut at least 50 percent of your food and clothing expenses. If you are earning a lot of money, and if you have investment portfolios, and a lot of savings, you might not have to cut your expenses, but if your earnings are limited and if you have not saved or do not have investment portfolios, you should stop wasting money buying foods that you can live without. For example, do you really have to drink 5-6 cups of tea and coffee in a day? Do you really have to eat chocolates and ice creams? Do you really have to eat cookies knowing that these food items do not have any nutritional value

 

[Yusra3]

We all know that change is hard. It takes time, it takes effort, and it takes energy which is why it's so important to have a plan.

I put together five ways you can make those changes a little easier:

1. Set small goals!

Smaller goals make it easier to achieve them. And if you're trying to change habits that are already ingrained in your mind, it's much easier to start with something small and achievable than something huge and overwhelming (like changing your eating habits or getting more exercise).

2. Find people who are going through the same thing as you are!

If you're trying to quit smoking or eat better, find other people who are also trying to make those changes! You'll feel less alone when they're around and will be able to talk about their struggles and successes without feeling ashamed of your own failures or successes.

3. Make sure your environment supports the change!

Maybe there's something in your home or workspace that makes quitting smoking really difficult or eating healthier really tempting and if so, figure out how to fix it before making any drastic changes! Do this by asking yourself some questions like "What would happen if I didn't have access to [object]?"

4. Make a plan

This can be as simple as writing down what's causing you to waste, and how you want to change. It will help keep you accountable and make sure that you're taking steps in the right direction.

5. Break it down into smaller steps

Changing one thing at a time makes it easier to stay motivated and on track but making it feel like an insurmountable task can discourage you from even starting in the first place! So break down your goals into smaller tasks or steps so they seem achievable and not overwhelming.

 

[moonchild]

When it comes to changing a wasteful habits the first thing is acknowledging that there is a problem most people find it hard to be truthful to themselves, so they keep on making excuses why they can't change and a long time will pass and they are still the same person.

But after realizing you have a problem, the next thing to do is to learn how you can fight the bad habit, some bad habits can be replaced with other good habit while other habits can be changed by a lifestyle moderation or modification or lowering expenses, making hard decisions etc depending on the habit.

When trying to change a wasteful habit you should not go all in, understand that you will have short comings and use such opportunities to assess what you are doing wrong and try again until you have completely change that habit or replace with something positive.

 

[Shaf]

Often, wasteful habits build up gradually so we are not even aware that we are doing something wrong unless we are told that it's wrong or we are actively looking for it. It's more common that we do this as our earnings increase, so this is one thing to watch out for.


It is also sometimes a result of the company we keep. If you keep company who care nothing of their finances and who live lifestyles beyond their means, you will soon get involved in the same type of activities as they do. This applies not only to friends, but co-workers and family members too.

Like it has been said, the change should be gradual, but there are things that you will need to put an abrupt end to. Buying of luxury items and purchases just to impress others should be stopped fast. Small habits like spending too much on food and personal needs should be changed gradually.