Bad Money Saving Habits and How to Get Rid Of Them

Income savings

“Money makes the world go around” is a very common saying. And to certain extent it is true. Just like how they say that money can’t buy you happiness. This is true, but we have to admit that most of the things that make us happy need money. That is why we need to make sure that we are saving money the right way. Thanks to Maple Financial – missold SIPP consultants for providing valuable information in the topic. We really appreciate that.

Bad Money Saving Habits

Undisciplined Saving

There is saving and there is what we call undisciplined saving. Undisciplined saving means that you are saving, but not saving enough. We can liken it to occasionally cheating on a diet. Undisciplined saving means that you are being loyal to your money saving scheme. You are skipping months and you taking chunks out your savings.

The best way to keep rid of the habit is to remove the money that you want to save as soon as you get paid. Do it without even thinking about it. Like how you instinctively remove a certain amount of play machines a sous casino with every month. And when it comes to stealing from your savings, you can save it in someone else’s account. That way you can only have access to it when you need it and not when you want it.

Living Beyond Your Means

This is a disease that has attacked many millennials. And the main culprit for this is social media. People see their age mates spending money on social media or on and they also want to do the same. This leads to you living beyond your means trying to impress a virtual crowd that may be lying to you.

When it comes to living beyond your means, the best way to get rid of it is to be realistic. Realise that not everything that you see on social media is true. And even if it is true, the people who are spend probably had to save the money that they are spending. That being said, if you want to spend lavishly save up for it.

Author: Dexter Sinistri

Dexter Sinistri is a famously centrist writer who has worked as a Hollywood correspondent for a number of leading publications since 2005. Though once a photographer, Mr. Sinistri struck out as a writer on all things celebrity, and he likes to consider himself a tremendous asset to Glossy News, though by most accounts, he has fallen somewhat short of this effort.