9 Common Mistakes That Make You Lose Money

9 common mistakes that make you lose money

You think that you are saving but you make mistakes and lose money. It costs you more than you think.

1. You Give in to Impulsive Sales

Black Fridays, Cyber ​​Monday, Christmas and New Year sales, all are organized for you. Even if you don’t need another coffee machine, a second set of perfume and a sixth case for a smartphone, you still buy it and lose money. Because with a huge discount.

What to do?

  1. Purposefully disconnect from sales news.
  2. Remember that many sellers set up fake discounts. Do you really want to be cheated?
  3. Make a list of what you really need and purchase only these things.
  4. Choose products with an exclusive discount with one condition. First, conduct a thorough inventory of what was purchased during the last “Black Friday”.
  5. Allocate a certain amount for purchases during sales and do not exceed the limit.

2. You do not Follow Sales

You do not see where and what you can buy cheaper. And you lose money. Many stores arrange sales days when fresh and high-quality products can be purchased at very competitive prices. And this is a good saving.

What to do?

Subscribe to the newsletter of the stores where you most often visit. Or download a special application that will collect the most profitable offers and tell you about them.

3. You Prefer To Buy Ready-Made Food Rather Than Cook It Yourself

Cutlets, salads, side dishes from the department of prepared food in supermarkets will cost you at least twice as much as if you made them yourself. Or at least bought a semi-finished product.

What to do?

  1. Cook yourself. Accustom yourself to paint the menu for the week. Then the food will not be monotonous, and you will not want in the evening “something tasty.”
  2. Buy only the foods you need to make dinner. This will save a decent amount and switch to a healthy diet.

4. You Throw Away Food (Lose Money)

Yesterday’s pasta, slightly browned bread, dried cheese, an open can of peas – all this goes to the basket to make room for new purchases? So you spend more on food than you need.

What to do?

Try an experiment: do not go to the store until the refrigerator is empty. And fantasize. To invent your own dish and feel like a chef is priceless. Here’s how to use stale foods:

  • Butter can be turned into a delicious sandwich supplement. Mix it with Dijon mustard, a crushed clove of garlic and chopped herbs.
  • The dried cheese can be grated and added to boiled potatoes fried in butter.
  • Make dried croutons from a dried loaf of bread. Cut what you wanted to send into the trash into slices. Mix the egg with sugar (to taste), dip the bread in the mixture and fry in a pan with butter. Hot croutons are very good with herbal tea or coffee.

5. You Blindly Follow Trends and Lose Money

Things that are at the peak of fashion today will become irrelevant tomorrow. So again you have to completely update the wardrobe.

Do You blindly follow trends?

What to do?

Breathe out and calm down. Chasing trends is definitely not worth it. Choose a wardrobe based on what is right for you. And do not throw away old things – in a couple of years, a sweater or skirt can again become super-fashionable.

6. You Do Not Have Enough Patience And Lose Money

Sellers have learned to well stimulate interest in goods and create excitement. One of the latest examples is selling seats in lines for iPhone X. On the day of release, a popular product always costs more, and after a while it gets cheaper. But those who are not willing to endure pay more.

What to do?

Calculate how much you can save on waiting. This applies, for example, to go to the cinema: on the day of the premiere, a ticket can be the most expensive, no discounts will work. After a week, you use a coupon or choose a budget morning session. Or even wait until the movie can be watched online in a digital cinema. These little things add up large amounts.

7. You Are Easy To Persuade Sellers (Lose Money)

“But these socks at a super price, be sure to take it to your purchase”, “Only coffee that is sold with us is suitable for this coffee maker,” “You urgently need to get an additional guarantee or insurance for the goods. What if it breaks in you? ”

All these phrases are familiar to many of us. Sometimes it is difficult to resist the pressure of sellers. But it is necessary and possible. Indeed, in this way often junk goods and unnecessary services or something at an inflated price are often offered.

What to do?

Engage in self-education. Read everything you can about coffee that is suitable for coffee makers, additional warranties, insurance and other details related to the goods you want to buy. And decide if you need all this. And also learn to firmly say no. You will not offend the seller, but you can save.

8. You Are Inattentively Reading Financial Documents (Lose Money)

Many of us have debit and credit cards or loans. But did everyone carefully read the agreement that they signed with the bank?

It is possible that it spells out expenses that you were not voiced by a friendly employee. And they will be an unpleasant surprise for you. For example, financial liability insurance, connected by default for the owners of some credit cards.

What to do?

  1. Accustom yourself to carefully read everything that you sign.
  2. Improve your financial knowledge.
  3. Remember, thinking about the next “super-profitable offer” that free cheese is only in a mousetrap.

9. You Do Not Create A Financial Pillow (Lose Money)

Everything happens in life, including force majeure. You may be fired, your company will suddenly go bankrupt, and you have a mortgage and some more small loans.

What to do?

Accustom yourself to save. You can use the pitcher method or any other method available to you. The main thing is that you really save up for a rainy day or some other large goals and not spend money ahead of time.

Leave a Reply