Get Rich Or Die Poor: 5 End Month Money Habits You Should Quit Once And For All

End month is almost here and for those who have a job; it comes with a cheque or a pay slip. Will your salary be enough to last you till the next payday or you will be in debt or as I have heard people say will you have too much month at the end of your money?

It’s not that your pocket has a hole in it so here are 5 end month mistakes to avoid;

Related: How To Stop Being Broke Once And For All 

1. Spending Money Without A Budget

Do you have a fair idea of how much money you spend in a month or are you living an unrestrictive financial lifestyle?

A budget helps you track your spending and it should be planned and realistic. If it is utilized it can save you a lot of money. Make a budget and stick to it. A budget will help you live within your means and put you in control of your finances.

2. Feeling Philanthropic

If you are good-hearted you are most likely to fall into this trap of helpfulness. Some people give too much when they get paid and they forget about the days to come.

For instance, when you get paid and someone tells you they need money for an urgent problem. Think it out properly before lending the money.

3. Expensive Hobbies

We all have hobbies, right? And we all enjoy the hobby but could that hobby be scaling back your finances?

Some social hobbies, for example, drinking alcohol goes too far when an employee uses too much of their money in such a hobby leading them to be broke.

One can reconsider these kinds of activities and see what other options they may have or cut down on the amount of money they invest in such activities.

4. Impulse Buying

Impulse buying is an unplanned decision to buy something and it ranges from clothes, shoes (for the ladies), jewelry and even movies.

Once people are paid they spend money on unbudgeted items that are non-essential. This can get you broke within the next week if you are not careful enough.

Impulse buying can be reduced by having a proper budget and having the discipline to stick to it.

5. Failure To Bargain

When you get paid it’s likely that you do not care about the price of what you are buying or the amount of money you are spending on an item. At this point, you end up spending more money. I would advise one to bargain no matter the time of the month. It will save you money.

In conclusion,

It is important to budget on your salary in terms of expenses and basic needs in comparison to your income. Plan wisely to avoid wasting money. Planning helps you get around a full month on your salary.

Pay all your critical bills when you get your salary for example rent, electricity and water bills. By the time you are getting broke you will not struggle to pay such bills.

Don’t get broke before your next pay day.

Related: 10 Tips On How To Become A Millionaire By 30