Destructive financial habits: know them and stop doing them!
Destructive financial habits are present in many details of our daily lives, which we often don't even pay attention to.
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In the end, we don't understand why we always end the month with no money, or we can't do anything other than pay bills, and even though we buy regularly, we feel like the money has been useless.
Did you identify with this?
Then this text is for you. We know that the situation in Brazil is not at all favorable, and that, as a result, wages are increasingly devalued. The costs of things are high, and it's very difficult to think about saving money, for example.
But just by eliminating destructive financial habits from your daily life, you can achieve better results and a more peaceful life!
Therefore, in this post you will find:
- What are destructive financial habits?
- Why is it important to break destructive financial habits?
- 5 Destructive Financial Habits You Need to Stop Having
What are destructive financial habits?
First of all, what can we define as destructive financial habits? These are the things we do, often unconsciously, in our daily lives, that harm our financial health. personal finances.
It could be related to some addiction, such as gambling, or it could be another type of emotional imbalance, such as buying products even when you don't need them, just for the pleasure of buying them... and so on.
The fact that they are called “habits” refers to things that you end up doing all the time and therefore, the long-term results are quite harmful.
Reading this, did you think of something you tend to do all the time? Maybe that extra blouse made of shoddy material to go with all the other 100 you have in your closet?
Or perhaps those unplanned outings that take the place of one bill or another?
As you read this article, think about situations where you didn't think before buying and then felt bad about it.
Why is it important to break destructive financial habits?
The name itself says it all: it's important to break destructive financial habits precisely because they ruin and disrupt your daily life and your reality, holding you hostage.
But hostage to what? Your credit card, that store's new releases...over time, you only feel good if you can actually make that purchase. And that's terrible!
Your happiness, in a way, is conditioned by something you have, and not by something you do or who you are.
However, we have talked here so far about unplanned purchases and how they can be destructive if made without incident.
What we don't talk about here is that some other habits have more to do with how you make decisions than the purchases themselves.
You'll understand this better in the list we've prepared below, with the 5 destructive financial habits you need to stop having.
And now it's no fuss, so you can improve your flaws!
5 Destructive Financial Habits You Need to Stop Having
Not having control over your expenses
The payment goes into your account and you go to that Chinese online shopping mall, which you know the one, and start filling your cart.
There are several bills to pay, and without any planning, it's very easy for your money to end up going entirely to what you want at that moment, in this case, new Chinese clothes, rather than what is actually necessary.
And so, you have no idea what you've spent on what, and you get lost when it comes time to meet your financial obligations. This is a completely destructive financial habit.
Another issue that can be a problem is withdrawing all your money and having no trace of it. In other words, you spent it and can't remember when or where. That's why using a debit card is so beneficial: you can check it later.
Impulsive buying
As we mentioned earlier, impulse buying is extremely harmful. And we're not talking about the occasional thoughtless purchase of something you really want, because financial health also involves fulfilling your desires!
But those recurring purchases that you don't use later are useless, and you don't really understand why you made the purchase. The worst part: you end up getting rid of it or throwing it away, and you still feel bad about having bought it.
The worst part is when this doesn't happen just once, but routinely.
Don't let the words "offers" and "promotions" overpower you! What's on sale isn't always what interests you. When you give in to external impulses so often, you let other people control your money. And that's bad!
Spending more than you earn
Another common mistake is having a higher cost of living than you can actually afford. Financial advisors recommend that you always live one step below your means in this regard.
This doesn't mean you shouldn't do anything else you enjoy, like going out with friends, shopping for clothes at the mall, or anything like that.
It means that considering your expenses, setting limits and goals, is what will make you a person who achieves things for yourself, and not just pays bills.
Don't worry about tomorrow
And it is by following the lead of the previous topic that we move on to this one: when you spend more than you earn, you are consequently saying no to yourself and your own future!
Yes, because you just pay debt after debt and are unable to achieve medium and long-term goals.
Which is terrible, because you stop taking courses that are important and that you really wanted to, you stop traveling more often because you never have the money, and so on.
Pay the minimum credit card payment
This may seem like a smart solution, but in reality, it only multiplies your expenses!
Instead, it's best to plan to only spend on your credit card what you can afford, rather than paying interest on credit card interest on a bill that only gets bigger.
Conclusion
Your financial health is crucial to your overall life. Don't ignore it!
Did you like the content?
Take the opportunity to also read “Caixa Tem Loan: Understand how it works.”
