When it comes to managing your money, you have to play your cards right. Easy to say right? While this may be a no-brainer to anyone, sometimes, or if not most of the time, we end up in the pitfalls of splurging.
As working-class adults, it is not bad to reward ourselves once in a while. After all, it is our hard-earned money, right? However, we have to be continuously reminded that part of being an adult is to also be responsible for our finances. Do you have any financial goals? Have you started saving for the rainy days? Or have you already thought of retirement?
Just like in any aspect of life, we may be all guilty of having bad financial habits that are damaging our finances. Some of us might be unaware of it, some may not know any better, or some may not care. Nevertheless, keep in mind that any bad habit is fatal in all facets of one’s life.
My advice to everyone is that as early as possible, be able to break these financial habits. Read through this list of bad financial practices and start becoming responsible for your actions:
Having No Idea Where You Have Spent Your Money
People tend to spend mindlessly at times. One example of this is when you have a casual soda at each meal. Another is, whenever you make a quick stop at the grocery or cafe on your way home or even your occasional Uber/Grab trips.
You have to remain cautious about your spending habits. This is why you must track down all your expenses so you have an idea of how you spend your money and see where you can cut back.
Paying Off a Minimum On Your Credit Card
Remember that having a credit card balance also means that you will be in debt longer. Not to mention adding up the amounts of interest that will also pile up. Furthermore, you also have to consider that the less you pay now, the more you will be paying in a later period.
Why not try making full payments as much as possible? This may seem to be an undesirable idea to some but you can acquire a loan to consolidate your credit card debts. Doing so could help you reduce your month-to-month repayments and provide a shorter-term relief.
Vidalia Lending has been known for its services since 2008. We have reached over thousands of Filipinos and helped them with their financial needs. To avail of our featured loans, all you have to do is visit our website, fill out our online application form, wait for our call within 48 hours, and get a hold of your borrowed cash in 2-3 working days.
Spending More Than You Are Earning
This type of lifestyle will most definitely not allow you to save money. If you are spending as much as you are earning or more, you may eventually fall into debt. One easy solution for this is to live below your means.
Not Having Financial Goals
Let’s face it, the money will not just magically appear right before your eyes. As responsible adults, we must have our own financial goals for the future. We don’t aim to be working our entire life. Determine your goal and set a specific plan on how you will be able to achieve it.
Vidalia Lending offers a variety of loans. You can choose from our Personal loan, Salary loan, Business loan, and Small Business loan. All interest rates are lower than the usual rates offered by other loan providers. Be able to borrow without any collateral and you won’t need a co-borrower to be credited. For inquiries, you are free to visit our Help page.