3 Tips for Not Falling into Bad Financial Habits

3 Tips for Not Falling into Bad Financial Habits

3 Tips for Not Falling into Bad Financial Habits

Bad financial habits are the bane of many individuals and households – and the most tragic thing is that, often, these habits never need to be surrendered to at all, and can often be avoided with just a few fairly straightforward strategies and techniques.

You never want to end up in a situation where you are looking at insolvency, or have to struggle to pay the bills, because of something avoidable that you have inflicted on yourself, with regards to your money-management.

Here are a few tips for not falling into bad financial habits.


  • Always put a “delay buffer” in the way of different would-be impulse purchases



Much of the modern world is essentially geared towards “hacking” the primitive and impulsive part of your brain, in order to toy with your emotions, and get you to make hasty and ill-conceived decisions that will benefit whichever company wants to part you from your money.

Emotional marketing works, and that’s the reason why every company from food and drinks brands, to big-name car manufacturers, tries to paint the picture that their particular product has that special “something” that will take away your worries, and lead you towards the life you’ve always dreamt of.

Of course, we all buy things from time to time, and there’s nothing wrong with making a purchase, in and of itself. But there certainly is something wrong with making impulse buys which don’t involve you consulting with your higher reasoning faculties at all.

In order to allow your emotions to simmer down, and to break some of the spell of those manipulative marketing practices, always put a “delay buffer” in the way of different would-be impulse purchases, instead of just going for them at once.

In other words; next time you see something in the shop, or on TV, and feel like you “absolutely need it” right now – force yourself to wait for a week or two, before deciding whether to buy it.


  • Consult with trustworthy and reliable advisers, before making big financial decisions



From companies like Visio Financial Services, to members of your close family, to your personal accountant – often, before you make any big and potentially life-changing financial decisions, you should consult with trustworthy and reliable advisers who can at least give you an insight that you might currently be lacking.

As human beings, we are all generally quite good at constructing our own narratives, and getting lost in them, with little reference to the outside world.

A plurality of viewpoints and opinions is often just what you need in order to reset your decision-making compass, and to keep you from potentially reckless financial decisions.


  • Consider using cash more often, and cards less often



We live in a world, today, where the vast majority of transactions are managed by card – or even digitally. In fact, some countries are even apparently planning to “phase out cash” altogether.

As a matter of fact, though, using cash more often, and cards less often, is often a really good way of helping to fend off certain negative financial habits.

When you’re using cash, you have a much more tangible sense of “letting money go,” when you spend. This can create an emotional bulwark against spending money you don’t have.

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