1. Going beyond budget
It’s important to have a daily budget and to stick to it as much as you can. Of course, you also need to create a bit of space to move around especially during times of sudden need, but if you’re planning to go beyond your set amount just because you want additional whipped cream and chocolate syrup on the iced coffee you bought, then you may want to think twice. Spending beyond your means for trivial items–even if it’ll just put you twenty pesos beyond budget–can accumulate, and before you know it, you’re dipping your hand into your savings since you don't have enough money left to tide you through the next pay day.
2. Indulging in impulsive purchases
One of the things that could drain your savings is giving in to the urge of making a big and unplanned purchase. When faced with the dilemma of whether or not you should take out that ATM card for something that caught your eye, ask yourself this question: “Do I need it, or do I just want it?” The decision becomes easier to make once you’ve distinguished between need and want.
3. Spending on services that you can do on your own
Getting professional help for things like doing the laundry or getting a pedicure is okay once in a while, but try not to get too used to shelling out money for those often. Trust us: you’d be saving more than you thought you would be by being independent.
4. Going too deep into fads
If the latest fashion trend or food curiosity has been flooding your Facebook wall, chances are, you'll try it once. That's fine, but you should remember not to fall in too deep at the height of its popularity to the point of spending much more for it than you should. It's a fad, after all, and once the tide passes and you still really like it, it'll probably be cheaper than when it was initially sold. It does pay to be patient.
5. Always eating out
Food isn't cheap these days, and even if you're only set on spending a couple of hundred pesos for it daily, that's still a thousand less your budget within any given work week. Instead of always heading to the nearest restaurant for lunch, why not bring baon to the office? Aside from the savings, you'll also have the certainty of munching on clean and healthy chow.
6. Paying past your credit card's due date
Two words: late charges. One reason why people who love swiping plastic end up going into debt is because they fail to pay their dues on time. Late charges compound on interest, which add up to even more trouble if you miss another pay period, so better settle everything on time if you want to avoid having problems clearing your bills.
For more seemingly *~harmless~* spending habits that are actually draining your savings, check out femalenetwork.com!