Happy new year fams, we hope you had a good 2018?, In a bid to improve our financial situations in this new year we’ll be sharing with you 5 reasons why you always run out of cash quick.
You must have been in a situation whereby you you Were loaded with cash and within few hours or days, the money is all gone? It could be how you spend it or your lifestyle (what you spend it on). These days, Money is hard to get but very easy to spend, which is why you need to watch how you spend.
Why do you always run out of cash so quick?
Here are possible reasons you are always out of cash quick which is might be leaving you broke all the time.
1. Shopping without a list
When shopping, it’s important for you to draw a budget, removing unnecessary things from your shopping list.
The difference between shopping with a list and without a list is the fact that with a list, you shop with a purpose and you have an idea of everything you need to get but shopping without a list means you just shop without having an idea of what you want to get, leaving you shopping for things you might not need at the end of the day.
2. Saving in your regular account
If you save in the same account you also use for your regular transactions, it might be a reason why you are always out of cash quick. Not only might it get you out of cash quick, it also won’t make you reach your saving goals quick.
You need to have different accounts to operate your regular spending account and a different one for the sole purpose of savings.
Gambling is not a good lifestyle habit, it will always leave you out of cash quicker than you know.
There’s a lot of risks involved with gambling and these risks are not reasonable risks you should take because it could take you from zero to hundred which is rare and you could go from a hundred to a zero which is more.
Gambling can make you spend all your life earning, which will always leave you out of cash quick.
4. Wasting food
If you have the habit of always wasting food and throwing away leftovers, then you might always go broke quicker than you can imagine.
You spend money buying foodstuffs, so if you keep wasting and disposing of leftovers, you are actually wasting money, which you might not know but is actually making you run out of cash.
Make it a habit to always preserve your foodstuff in the refrigerator until next time you want to have a bite.
5. Living larger than life
A lot of people spend on things to either show-off and show they are living the good life but living the larger than life lifestyle might be a major reason you are always out of cash quick.
If you can’t afford to live the expensive lifestyle, stop it and stick to your current financial level. Stop living your life to impress others or show off, it’s not worth it as you end up facing the consequences alone later.