Spending or losing money is one of the easiest thing in the world to do, Hahaha, take it from me, I can testify. Once you get that paycheck, even after all the hours you’ve spent planning how to spend it wisely and make more, then finally you get that payday alert, and BOOM! What just happened to my money? lol. By knowing the negatives, we can prevent them and gain more control over ourselves and our lives. Here are 5 of the fastest ways you can easily lose cash and for us to take notice, so next time, we can be better spenders, Haha.
1. Living a fake LifeStyle for the Gram
You didn’t see that coming, did you? Yes, this made it to the top of our list today for lots of reasons, let’s get to it.
We all take selfies OK. It’s such an amazing time to be alive, virtual world out there we get to experience from the comfort of our room. That phone or computer is so tempting. We wanna check what’s trending right now, which celebrity is TMZ talking about today, which Shoe is trending, latest Handbag and makeup kit for the ladies. It’s almost all about what’s trending right now. YOU see, Everyone looks happy in their Selfie, they seem to be having a good time, online, and they always look so good, nice dress and so on. Come on, who would upload a selfie of their sad moments? Most of our friends and followers online, whom we barely even know or have even met, doing things we want to be a part of and taking that selfie whilst doing it. Wow, Self reflection kicks in, What am I doing? I should be having such kind of fun everyday. The adventure begins, and Boom! again, we start spending our savings or the little we have planned to use for something else. After all, LIFE IS TOO SHORT! SPEND, buy that rolex we didn’t budget for, buy that shoe even when our shoe closet is screaming ‘STOP, U have enough’! We then pay for a trip we didn’t plan on going, to an exotic island, great for Selfies, you know. So we take a shots of that really expensive meal and show the world I eat like a BOSS. Haha. Then after a weekend of showing off my ‘AWESOME LIFESTYLE’, reality hits and ‘DAMN! AM BROKE’. I am a Social celeb, have more followers, likes and comments, Haha, but my wallet is dry. ISSShhhhh, maybe I’ve learnt my lesson.
2. Not Investing Wisely
Most people pitch an awesome idea to you about what’s trending and how people are getting rich so fast, you should join immediately. There are a million and one ways you hear about that is making people rich, and I mean, fast. What no one tells you, is how you can easily lose the money you already have. Lots of Options to invest in are out there, and when you have cash for it, a lot more options present themselves. Oooohhh, so tempting. News flash, not all those options are going to get you back your investment plus profit. Sometimes, a bad investment takes all your money away and after all your months of saving, planning, and you lose your money, Trust me, that SUCKS. Worst is when you borrowed the cash you used for investment, and lost everything, and now in debt you didn’t bargain for. Simple but hard trick/solution to this problem is by carrying out the necessary research you need before investing to really know what you’re getting yourself into. If it ain’t right, Walk away Or to make it simpler for you, RUN FOR YOUR LIFE. It’s good to take risks in investing, but Reasonable Risks, OK. Money don’t grow on trees they say, you don’t wanna go back to square one and start all over again.
3. Unhealthy Gambling
Gambling has made a lot of people very rich, and a whole lot more, extremely poor. It’s feels so good when you’re winning, you feel you have been blessed by a higher power lol. But what of when it results in you being the loser, all your cash leaving you, but you don’t want to stop. So you keep betting and betting, more cash is lost, oh Gosh, my MONEYYYY! Call Jake to spot you some cash, that you know your gonna get it back. Jake does and you go all in with the cash. OH NO, NOT AGAIN! It’s all gone. Soon, if you continue this way, betting every cash you get, on the next assumption that something will come out, your Gambling becomes an ADDICTION and Unhealthy for you, and you don’t really see how much you’re hurting your finances till it’s too late. That’s it, Cash gone, no refunds, not even a little cash for transport back home. That Sucks so Baaad!
4. Big Spender
It’s the BOSS lifestyle, who cares? One of the easiest ways you lose cash is the most obvious of all, by Spending. But when you spend big everytime you’re given options to choose from, not evaluating the less expensive choices, always going for the choice with the highest price tag, Hmmm…guess what happens….You lose cash pretty fast. This poses a problem if it is a habit and it could really affect your financial plans, and in general, your life. Take it easy, Dear!
5. Spending Huge on Holidays