7 Spending Habits You Should Stop Immediately

These 7 Spending Habits You Should Stop Immediately are things that you are likely use to doing, you just don’t realize the impact they have on your finances. You really need to take the time to think before spending, and this is a great place to start. If you are working to improve your overall finances, or simply revamp to set aside more money for a vacation, this may be the direction you should go.

7 Spending Habits You Should Stop Immediately

Paying full price for anything. Very rarely is there anything that you will need to truly pay full price for. Sales and coupons are almost always going to be available for anything you really need. Yes, there are things that rarely go on sale, but those things are also items you are more likely to not need on a regular basis. Before you pay full price, do a quick check of prices online, ask about upcoming sales or look for coupons.

Using credit when you are unable to pay off at the end of the month. Credit cards are a trap for many individuals. This is a common sense thing. The biggest spending habit you should stop immediately is spending outside your means. That means put the credit card away until you can truly afford to pay for the item.

Buying items when first released. Do you fall victim to new release electronics, movies and music? If you wait even 2-3 months you’ll typically find lower prices. For electronics, you can wait a year and buy at a lower rate when the next updated item is released.

Buying brand name products. This is usually regarding food, health and beauty or even pet supplies. Some thing should be purchased in brand form for your own preference, but there are a multitude of things that are just as great quality when purchased in generic form.

Buying bottled water. Yes, bottled water is convenient, but a waste of money. Instead invest in a great canteen (Kleen Kanteen is a great brand). If your water at home isn’t good to drink, look into a filter system that will cost a fraction of the price of bottled water.

Paying ATM and banking fees. There is truly no reason to pay banking or ATM fees anymore. If you need cash, go to your bank ATM so you avoid fees. If you aren’t near your own bank, many stores now offer cash back with debit card purchases. Banks nationwide offer free checking with very few restrictions. Shop around to find one that really works for your needs.

Not taking a list when you shop. Whether you are shopping for groceries, health and beauty products or back to school clothing it is important to always go with a list. Impulse purchases as well as forgetting needed items is a waste of money you will regret later on. A list is always a good choice no matter how big or small you shopping trip is.

These spending habits you should stop immediately are things that we all fall victim to. I look at this as a great reminder to stay on top of those day to day things so I’m not needlessly wasting money.