Habits to avoid…so that you don’t land up in a Financial Mess!

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Merry Christmas!

Here comes Christmas & we enter into the last week of 2018. At the end of every year we tend to let go the things happened throughout the year & look forward to a new beginning. Every year, we go on making resolutions, though following it depends upon each one!

When it comes to your finances, it is your habits that determine your good or bad times. Well, good ones can sustain you in tough times whereas bad ones can land you in financial problems without even a prior notice! Thus, make a resolution to stay financially as well as physically healthy.

We have some bad habits, which you should totally avoid to maintain a good financial life…

  1. Impulsive Shopping

Excessive shopping can create huge holes in your wallets. This may appear as a temporary problem but it holds you back from fulfilling your long term financial goals. So stop shopping unwanted things just to stay with the trend.

  1. Peer Pressure

You may certainly learn some spending habits from friends, family & relatives. They can have both negative & positive influences. Check the lifestyles of your social circle. Do not indulge in over spending just to get equal with your social circle. Accept yourself as you are & cut your coat according to your cloth.

  1. Excessive spending on housing

Maintaining your home is no doubt the most important & expensive responsibility you should perform. Mortgage loans, maintenance, utility bills, the list goes on…Find ways to lower your housing expenses.

  1. Remaining unconcerned about your Debts

Do you know how much you debt or liabilities you have? Are you taking measures to repay it at the earliest? Living debt free life is indeed a true gift!

  1. Being dependent on your Credit Card

Plastic Money does help a lot. It is a savior when you need emergency cash. But you may end up living your life on credit cards. Remember, Credit Cards increase your debts…and you will have to pay higher interest rates!

Live within your means, your life will definitely become easy!

Merry Christmas & A Happy New Year!!!

More Later….

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