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Bad Financial Habits with Tips to Success

• Financial habit includes a good spending habit, that makes more money in your saving accounts. It’s not a big issue to make financial mistakes, but we need to avoid the ongoing bad habits.
Bad Financial Habits with Tips to SuccessINTRODUCTION • Financial habit includes a good spending habit, that make more money in your saving accounts. • We all normally make financial mistakes like over investments, by spending over on unnecessary things etc. • It’s not a big issue to make financial mistakes, but we need to avoid the ongoing bad habits.Bad Financial Habits 1.Overuse of credit cards 2.Not make monthly budget 3.Instant Buying 4.No control on Monthly expenses5.Delay in credit card payments 6.Ignoring Long- Term plans 7.Spending on repeated products 8.Ignoring product maintenanceCorrecting Bad Financial Habits 1.Overuse of Credit Cards Don’t overspend on the credit card that will take a long time to pay. Use a saving account for purchases and credit card should be linked with that account.2.Not Making Monthly Budget • Monthly budget is a simple list of all expenses of the month on a paper.• Using monthly budget we can reduce overspending. • Also compare each month expenditure to maintain the budget.3.Instant Buying To save the money you should track and reduce your instant buying, because instant buying results in high payments. Plan carefully every time to purchase, buy only the things which you need.4.No Control on Monthly Expenses • Keep track on your daily investments for a month. • See you only buy the things which are required.5.Delay in credit card payments • Don’t delay in credit card payments, because bank adds late payment fee, increase interest rate and it is a cause of money loss.6.Ignoring Long-Term Plans • Make long term plans for savings(retirement).. • Take suggestions from professionals for retirement. • Don’t take long term plans as second thought.7.Spending on Repeated Products • Make sure that you are investing on the products which you never had before. • Investing on redundant products is not the right choice because it works same as you have. • Buy new products from which you can take new experience.8.Ignoring Product maintenance • Investment on regular oil changes and regular maintenance of your vehicle will save the money. • Fixing a large amount into small amounts always saves the money.Follow us on:-
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Category:
Presentations
User Name:
khyati
User Type:
Student
Country:
India
Uploaded Date:
17-03-2017