When you are on a budget, you have to fix the bad habits that may blow up your entire budget for the month if you don’t pay enough attention.
Being a compulsive shopper
Have you ever came across something (whether in a mall or online) and felt the urge to buy it immediately? I’m sure you have. It happens to everyone.
I also come across many things I would like to buy–a chessboard, a new laptop, etc.
But when you are on a budget, especially as a student, you have to force yourself to say no to compulsive shopping.
With expensive admission fees, books to buy, a rent, food and unexpexted expenses, compulsive shopping is not an option.
If you spend more money than you save or earn, you will be left with nothing in the end.
Going to restaurants
Restaurant lovers, I am sorry to announce this to you but you will have to give up on your precious high-quality dishes and fast food.
For the food lovers like me, it can be a very difficult choice to make, but it is needed. It simply isn’t worth it. Rather than going to restaurants, cook at home.
Instead of wasting an astronomical amount of money for one meal, you can use the same amount to buy a bigger quantity that could last for days. And in all honesty, eating something you cooked yourself gives WAY MORE satisfaction.
Not tracking your spending
When you are on a budget, you need to track your spending. There is no way around it. If you are on a budget, you have to track your spending depending on your monthly income.
Track your spending to avoid bad surprises, but also to make better decisions when choosing what to buy. If you don’t know how much you spent so far and how much you have left for the month, you may end up regretting your choices.
It happened to me before. Because I didn’t track my expenses, I ended up blowing up my budget for the month–a situation from which I suffered greatly. Don’t let the same thing happen to you.