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Improving your spending habits

There are the things that you want to buy, and the things that you need to buy – the key is getting the right balance. Many of us in the UK aren’t great at spending wisely and end up struggling with money as a result. Here are some tips on how you can improve your spending habits. 

Pinpoint your bad spending habits

The first step is to realise what your bad spending habits are, and then you can figure out how to correct them.

Look at the money you’re spending on food. Are you eating out when there’s still food at home? Try to change this habit by getting a takeaway less and making use of the items you already have. 

Are you an impulse buyer? It can be easy to be tempted when you’re scrolling through Amazon or the website of your favourite clothing brand, and this can result in a lot of impulse purchases. You might tell yourself that you’re doing it ‘just this once’, but every time you do this, it adds up. 

Fixing the habits

The most effective way of stopping bad spending habits is by replacing them with good ones. One of the most important things you can do is remind yourself why you need to make the change. 
It can be easy to feel low when a lack of money is getting the better of you, so be motivated by how good you’ll feel having your money in order. Budgeting can be helpful, so be sure to live by a strict budget and you might even find you have some extra cash at the end to treat yourself. 
Avoid any triggers such as tempting sales and avoid searching through those shopping sites – if you can’t see the items, then you won’t end up buying them!

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