When you set something aside in your savings account, you are keeping your financial goals on track thereby escaping any future eventualities.Ī proper savings account helps you spend within your means. It is very unwise to spend without saving. Most people are ready to spend more than what they earn even without saving therefore, they end up running into debt.īefore you spend, think about tomorrow with such a thought you can save. Save before spending:Ī lot of folks are found guilty of this. Here are eight (8) examples of good spending habits: 1. This article has put together 16 examples of good and bad spending habits to guide you and help you know when you are spending the right way. For some, they simply can tell what a good spending habit is from a bad one? It is kind of tricky for a lot of people to know and practice good spending habits.

Some people may consider this a good spending habit whereas others might beg to differ. He believes that you shouldn’t be spending a million dollars on a particular product when you don’t have up to ten million dollars in your bank account. I once listened to an interview by the famous pop star, Akon in one of his interviews where he spoke about spending habits. Some people tend to mistake a bad spending habit for a good one and vice versa.

It is so unfortunate or rather confusing that most people don’t know how they are spending their money. Some people don’t even realize when they are going overboard with this spending habit.Ĭheckout: 11 Effective Budgeting Tips for Low-Income Families Spending habit is difficult to overcome because of the strong urge we’ve already created for them. In the society we live in, people are always trying to meet up with societal standards, maybe our belief in charity or our own personalities. Spending becomes a habit when we are greatly influenced by what is going on around us. This is because we most times spend so naturally that we do not even know when we do. In a world where we need to take care of our needs or get the things we want, spending becomes definitely unavoidable hence, it becomes a habit.

Bad spending habits synonym