Putting money away every month is a common dream among the masses, but it never comes true for certain people who give in to other priorities. Food and entertainment are a few of the priorities that often rank higher than savings, at least with chronic spenders.
Here are four personality traits that sabotage savings, leading people to turn to cash advance lenders online as a viable monetary option.
Insecurity is often embedded in our culture thanks to the peer pressure individuals feel from their friends to conform to the persuasive marketing messages of mass media. Not keeping up with peers in the conspicuous consumption game can make people feel left out if they don’t understand how advertising works. You can avoid pretentious and obsessive behavior that results in over-spending by educating yourself about consumerism.
Some people who want to save never get around to it because they lack the self-discipline to commit to it. Procrastination becomes the pattern that keeps savings from happening. By planning a budget and making a conscious effort to stick to it, you can reverse this inability to make saving a priority.
One of the most dangerous personality traits that leads to high debt is carelessness. It often begins with a credit card. Once that card is maxed out, the careless consumer gets more cards until they track up thousands of dollars in debt. The careless spender usually doesn’t pay much attention to financial matters and doesn’t practice any restraint when visiting malls, where plenty of impulsive spending opportunities present themselves. The key to avoiding this fiasco is to prepare a shopping list for items you have thought about that you need or will enjoy.
People who make the party lifestyle their number one concern tend to waste a lot of disposable cash on alcohol and other “good time” sensations with their friends. Partying every night is certainly a fast way to drain your earnings, whereas restricting it to the weekends allows you to at least have money in the bank in case you ever need to quickly pay back cash advance lenders online.