Stop your spending leaks

If you find your salary being spent before the end of month, just think over it. Do you plan your shopping in advance?. Do you buy things that are on your shopping list? Are you tracking your credit cards?. If your answer is no, then spending leaks are bound to happen. And the biggest reason for this is the unplanned use of money. I am sure many of us are the victims of overspending.

When you visit a shopping mall you cant resist the impulse of spending on lunches and movies. And you often not just spend on food or movie, but a lot on window shopping – a kind of an impulse buy.

No doubts the spending gets multiplied and you might end up spending a few extra thousands on what was never in your list!.But a conscious effort and a little self discipline will definitely put things on right track in few months.

Resist your impulse of unplanned buying as it may sometimes force you into debt.

Next, identify your temptations that make you pick up things without a thought. While visiting departmental stores for your grocery needs, you would find merchnadise placed at strategic locations to attract your attention.

You may also find a teddy bear or KinderJoy or Choclates placed next to child care. So better think and pick up the products you need the most.

It is you who has to decide and learn to shop wisely. Get the most of your money and stop those spending leaks.

(Disclaimer: The views expressed in the blog are that of the author and does not necessarily reflect the editorial policy of The Sunday Indian)

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