Whether you are materialistic or not, there is no getting away from the fact that money and finances are a big part of everyone’s lives. When you don’t have much of it, you crave it, and when you have more than you need, you worry about what to do with it! Of course, the problems arise when you don’t have as much money as you would like but get into lifestyle habits that are not sustainable in your current situation. To help keep you out of financial trouble, here are some ways to be more mindful with your money.
Some people make the mistake of not counting an overdraft as being in real debt, but it’s a debt as far as your bank lender is concerned, so don’t be so casual about it. The sooner you can get out of your overdraft, the sooner you can start working towards some actual solidity in terms of your finances. Living with an overdraft shouldn’t be your normal way of life, because it will soon start to feel like not a big deal when it really is.
Do as much research as you can with regards to playing the system. If you need to increase your credit score in order to qualify for better financing options and opportunities, then a smart way to go about it is by having two to three credit cards and using them each once every month, ensuring that you pay the balance for each one in full. Showing this level of responsibility and payment promptness is an effective way to increase your credit score over time.
When it comes to protecting your own interests and your own finances, you need to learn to start saying no when social occasions and obligations come calling. If you know you can’t afford to go out for drinks four nights a week with friends, then be strong in your conviction and give your own excuses. There is no sense in wrecking your bank balance just so you can keep up with your friends who might be more stable right now.
You can save a lot of money if you give up the tendency to be a brand snob in your shopping habits. Much of the time, the quality of brand name goods versus generic goods is barely noticable, so you don’t have to sacrifice much in terms of quality and taste, but what you do save it lots of money over the course of weeks, months, years.
Take a look at all of the things that you pay a monthly subscription for. I bet you all the money in your bank account that you are still paying for some things that you don’t even use anymore!