Are you tired of always feeling broke?

You know that feeling of living pay cheque to pay cheque, and no matter what you do, you just can’t seem to get ahead of things?

Did you know that it’s usually not how much you spend that leaves you broke, but how you spend it?

Today, we take a look at five bad money habits that keep us broke and how we can fix them…

Not spending your money wisely:

Impulsive buying or going to the store without a set list of essentials will cause you to overspend and purchase things that you do not need.

Tip: Plan ahead by creating an essential grocery list before making that trip to the store. This way, you know what you need and eliminate the need for impulse buys.

Using your credit card as a backup plan:

Your credit card should be there for emergencies, not for clothing sales and takeaway meals. You might experience ‘retail therapy’ in the moment, but repaying that bill at the end of the month will definitely put a dent in your wallet.

Tip: Leave your credit card at home at all times to ensure you don’t swipe the minute you spot a sale.

Not having an emergency fund backup:

You have created such a tight budget that you cannot seem to find the money to put away in a savings account…

Tip: Whether it’s R5, R50 or R500, make sure that no matter what, you put something away every month.

Not sticking to your budget:

You have spent time creating that budget for a reason. That way, you know exactly what you have, what needs to be paid, and what you can buy — and maybe, just maybe, you’ll even have a little left over for yourself.

However, the minute you step foot into a shop, you tend to throw your budget out the window and spend like there is no tomorrow…

Tip: This comes down to planning ahead and practising self-control… Perhaps try drawing cash and then leaving your debit and credit cards at home… That way, you know you can only spend as much as you have in your wallet and not a cent more.

Paying yourself last:

You have created such a tight budget that you forgot to leave a little extra for yourself… However, despite a tight budget, the temptation of buying that top or new jeans is just too tempting, and before you know it, your budget is shot, and you are not able to make it through that last week of the month.

Tip: Have a look at where you can alter your budget a little bit. For example, look for alternative insurance plans, change where you do your grocery shopping and save on petrol by joining lift clubs. In this way you can save a little money and rightfully spend it on yourself.

ALSO READ: Wellness Wednesday: Simple tips to save money

ALSO READ: Simple ways for single parents to take charge of their finances

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