Deadly Habits you must quit in order to save

[Carpon]

As someone who wants to save and is determined about it there are some habits which I tag 'deadly' which you must stop or quit before your savings can be perfect.
One of these habits is impulsive buying. Any person who wants to save should have a budget of his spending and know the total amount such person is willing to spend at a certain period of time. But many at times people just buy stuff out of will without planning to buy or purchase it. They make reckless orders at bars and end up eating up all their income without saving anything at all.

Secondly, avoid credit purchase. Many people do come to me with appealing stuff to buy at any time if the month and pay at the end when salaries get paid. A fact you must nite is that such kind of goods are tagged with prices very higher than their actual price.
If you make credit purchases, your salary will be gone even before it comes and you will end up with nothing to place your hands in not to even talk of having extra which will be used for savings. What are some bad habits savers should avoid? Share with me.

 

[Etini]

One of the habits a person needs to quit if he/she wants to develop a saving culture is gambling. This habit would render you broke and without savings. You won't know when you deplete your savings to stake on a game you perceive as a sure game. Then it fails, and you fall to square one.

Another impediment to a saving habit is the presence of any addictive habit and desires. This one would choke your finances till you are completely on the ground. I know of a man that spends 20,000NGN on smoking cocaine every day. In a country where poverty is widespread, this level of expenditure is a recipe for poverty. Also, don't be pressured by anything in life. That's how people get into careless spending. Pressure from friends, relatives, and even merchants. Not being pressured to be financially reckless can help build your savings as you would spend only on necessary things and save the rest of your income.

 

[Heartstrings]

There are so many habits that won't allow one to save,when Saving one needs to quit some habits truly and all your points are actually valid and I totally agree with you. Seriously buying things on credit will never allow one to save,some people are so comfortable buying things in credit without thinking of the consequences later on.. the consequences is not enjoying your own money,you will spend most of your money paying debts,why don't you just use the little money available to buy what it can afford, instead y buying almost everything in credits and at the end of the day,your monthly salary may not be enough to pay off and the circle continue.

Truly there are some addictive habits that don't let one to save, smoking, drinking,betting, gambling etc. If you are so addicted to all this you will hardly save,why because any little money you have,you would want to taste your stuffs again why because you can't do without them.

 

[Abigael]

These are very good advices. Indeed people always do these deadly mistakes that prevent them from saving money. Then they end up feeling so bad for themselves when they cannot have financial stability.

Impulsive buying really kills your ability to save well. This is because you spend without a plan hence you usually spend more than you can actually afford. People who do impulsive buying usually spend untill they don't have anything to buy their needs with. So they take loans to buy their needs.

Another mistake that prevents saving is living paycheck to paycheck. These are people who get comfortable earning just that amount that is enough for their daily needs. Well, if you want to save well, you need to earn a better amount of money. That way, you will cover your expenses and have some for your savings.

It is best to work on ending these spending mistakes then you can be better at saving.

 

[Shigobad2020]

If yiu want to have money to spend in future , you must start saving and investing from now on , and there are things that might be like an hindrance that might stop you or avoid your from saving ,
Gambling is the first thing you need to avoid gif you really want to save , there will be a time when gambling will turn into addiction for you most especially when you are into sport betting or other form of gambling, unless you gamble with the little amount you can afford .
Secondly , you have to cut your unecessary spending in order to be able to save more money , some people like going clubbing and spending spree to buy drinks like wine and alcohol in the gathering of their friends when actually the money should have gone a long way to do something better for their future .

 

[Rubz]

Credit purchase is one of the major reasons people hardly save. I believe it's better to not buy something than to but it on credit and later use the money meant for one's savings to pay up the debt afterwards. Some other deadly habits I believe people should avoid in other to save effectively include;

• living a lifestyle that is higher than one's source of income. If one is an average salary earner, then one should also live an average lifestyle. Living a lifestyle that is higher than one's source of income could lead one into debt and would make one unable to save.
• Debt. Borrowing is one of the things thst can hinder one from saving. It has coke to my notice that most people often borrow to solve issues that are not important. For example, borrowing to throw a party. Borrowing is to be avoids if one wants to save effectively.

 

[CALVINDOL]

The reasons and benefits why we human beings need to save money is totally inexhaustible mentioned. To be more elaborate and clear there are so many uncountable benefits and reasons why we human beings need to save money and a good example of why we need to save money is because we do not know what the future uphold financially and so because of that we need to be financially stable and equipped to handle our financial future responsibilities and priorities. Majority of people who did not take the initiative to save money before economic events and situations like recession and inflation can totally testify to the fact that it was pretty much hard and harsh on them. Economic events and situations such as recession and increased cost of living should be the reason why an individual should save money in advance.

For starters we need to do away with all bad habits and attitudes stopping you from saving money. Overspending and the buying of irrelevant assets and properties should never be told about you because this is by far and some deadly habits that could hinder your money saving progress.

 

[Augusta]

One thing I know that keeps us away from saving money is spending if only we can stop spending unnecessarily then we would have just been on the road to saving our money. This is an experiment I have carried out I tried to limit my spending for days and I was shocked at how much I was able to stay for those few days and I've come to realise that it is not just about having money it is about having self control. Spending is one thing that money with spent can never come back to us so if that is the issue then the solution is to keep our money you don't have and I was spending it no matter how pressing we can be so one way to kill this deadly habit as stated by you is to avoid spending money and Stay a from buying on credit.