Money is never enough, Even if your monthly income tripled, you will still have more needs and wants than your
money can afford. It is more money, more problems. And so it is
difficult to ever make enough money to satisfy all the wants we
have. But you don’t have to
make more than enough money to satisfy all your wants at once. Don’t over struggle to get more streams of income and make more money like you never will. Rather for now, have an objective
evaluation of your lifestyle and spending habits and you will see the
holes through which your money has been going out. This post will expose to you to thieves that take out your income
unnoticed. Get off that Lane. They are:
1. Unproductive Phone Calls
This has a whole lot of unconscious influence on many people’s finances especially in countries where call tariffs are still very high. Personally, this is about the biggest hole in many peoples money bag, which they have to deal with. If you are the kind of person who wants to keep up always, with the people in your life, you will surely have this to deal with. Making phone calls is not supposed to be a hobby, but a necessity. But how do you ensure this, when owning a phone itself for you, is a luxury? Are you surprised? I know many people who own cell phones for luxury and some go ahead to own 3-4 cell phones. When you begin by making sure that the cell phone you own is a necessity and then watch out on all unnecessary phone calls, you will save far more out of your spending on calls. Begin by keeping a record on all you spend on calls, the people you call and the reason for the calls. At the end of the first month, analyze it and see those that were not necessary. Start Work from there.
2. Excessive Shopping
Many people love shopping, especially women. What they don’t love is the fact that they never have enough to get all they desire to get. This feeling is even more felt when we go shopping and have to come across all the wonderful things life can offer. Only few people can resist buying lots of things they don’t really need, when they go shopping and have enough to spend. Don’t let shopping be a hobby. Shop when there is a need at hand and money that was budgeted to meet that need. When you have to go shopping, carry just a little more money than you need and don’t go about feeding your eyes unnecessarily. Also, if possible, buy the things you need in bulk. When you buy in bits, you end up spending far more at the end of the day.
3. Utilities
Another thieve of your
money is utilities. While utilities like light, water, cable, gas, etc.
are necessary; their usage could often be abused without noticing. Most
of our spending on these could seriously be reduced by just being more
conscious about how much we spend for each and how wasteful we are,
often, in using them. There is no point paying
for cable when you hardly have the time to watch it. Many of us do that. We also keep our electrical appliances plugged and running even when we
are not using them. How about driving our car when it is not really
necessary to do so? Sometimes, public transport means could be far more
advantageous than using your car. Most people spend a lot
on gas, car maintenance and insurance when they could really live well
and meet up with their appointments without owning a car. Worst off are
those who go for 2-3 cars. Before you get another car, be sure you
really need it.
4. Entertainment
Today’s world is so
loaded with much entertainment and most people are lost in it. Entertainment constitutes the things you go for, that keep you happy. People all over the world are willing to travel far and wide to spend much of what they earn on entertainment, and this is because they have not found
natural ways of staying happy and entertaining themselves. Unfortunately many average earners are also caught in the traps
of spending much on entertainment compared to the rich, since they are not often very busy
people. Entertainment if not done right, does not
only cause you to spend money, but it rubs you of earning more money
because it takes away the valuable time you could invest in something
that will eventually bring in more income. Check and cut down on the
amount of time and money you spend on the internet just for fun instead for work, cinemas, movies,
games, clubs, etc and increase the amount of time you spend developing yourself. Look for more cost less ways of keeping yourself entertained
with the things and people around you also. Enjoy your person.
5. Dates/Outings
This should be coming
under socialization but it may not always be the case. Last Year For Example, you sure
went out on a few dates with some loved ones if you are within that age bracket. Can you still remember how
much you spent? Between the pop-corn, ice-cream, plates of food,
fruits, snacks, some salad and the movie are hidden costs that when put
together, turns out to be a huge avoidable expenditure. I tell you that if you
are so into eating out of home and going out on dates with loved ones,
you will be spending so much on this. Worst off, if you have a family
you always have to take out. But dates may be important from time to
time. So how possible is it to still have them but spend less? Create other forms of
having fun with your loved ones that may not have anything to do with
spending. If you must spend, let it not be often. Realize that it is not
the spending that builds relationship but the harmony and love that is
felt by every person involved. It is also possible to create the ‘date’
scenario at home or at a friend’s place and still make it that romantic
without spending as much.
6. Socialization
About 70% of people’s actions are geared towards meeting up with a
particular social class/status they want to be identified with. And the
fun is, no one gets satisfied in a particular class. We all keep
striving for a higher class. The reason is that we want to satisfy the
need for belonging as explained by Abraham Maslow’s ‘Hierarchy of
Needs’. Our need to feel
belonging and accepted makes us do many things we wouldn’t do if we felt
good about ourselves. We get luxuries, attend parties, relate with high
spenders, live in expensive neighborhoods, send our kids to very
expensive schools, get into relationships and so on. But these are not
always necessary as we soon discover that these things don’t make us any
better persons than we really are, neither do they increase our chances
of earning more. Socialize wisely. Cut
your cloth according to your size. Build self-esteem in yourself and
keep away from lousy spenders. Don’t compare and always be true to
yourself.
7. Beauty
I use to say that if I
must start one business, it will certainly have to do with people’s
looks, especially ladies. I don’t know many ladies who spend less than
50% of their earnings, on their looks. It seems, all they make is
supposed to be used to make them. But the ignorance behind spending so
much on beauty is that beauty starts from you and not from outside. When you are able to
build a great personality, self-worth and esteem, you realize that you
don’t spend so much trying to look good but you feel good about yourself
and sooner than later, people feel same about you. You could save a lot
of money which goes into your looks, if you can just work on your
personality and feeling about yourself.
8. Health Problems
I know people who spend
all they earn, taking care of health problems. Some even have to sell
some of their properties just to handle their health problems.While money spent on
health could be seen as money spent wisely, I dare to say that it is
not. The reason is that most of the health problems we suffer from are
preventable if we could just learn to live healthily. Our eating habits,
lifestyles, work conditions, etc. all form the health we have. You could spend little to eat healthy foods, spend nothing to get more
exercise daily, and spend nothing to live decently, and at the end of
the day, spend nothing to be healthy.
9. Love Relationships
If you agree with
this, you are most likely a guy. But I know ladies too, who will not
differ with me on this. Love relationship, for those who have ever been
in one, is a big thief of finances especially in developing countries. Try to think about how much you
spent in the last relationship that ended up a failure. You must have
spent so much just to keep the relationship moving. Very often I read and
hear of cases of people committing murder and suicide because they have
been disappointed by someone they spent so much money on. Worst off are the cases where people
invest so much to build a relationship they don’t even plan to keep. Know that you will need that money to build a family when you eventually
decide to have one. Spend wisely. Relationships are not built by money.
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