Suddenly you feel bored and to overcome this nuisance, you go to the market to purchase something. Even sometimes you buy those things which are not very necessary. You spend a lot of money every month and finally you get out of your monthly budget. This is very similar to another habit which is craving to eat something. You open your fridge and eat something again and again after short intervals. Just to get your mood fresh, you do shopping. At last, you spend the last ten days of the month in a miserable way. This habit is really dangerous as it can ruin your financial health.
This whole process is consist of three things:
1- Trigger
2- Routine
3- Pleasure
In this case, trigger is your feeling of inconvenience and routine is your habit that you perform against that trigger and pleasure is reward that you gain in the form of excitement or happiness. From these three things, you can’t remove triggers and pleasure from your life because it is an essential part of our life. We can’t break our habit (routine) but we can replace our routine with something else. For example, if you are addicted to smoking, you can’t remove this habit but you can replace it with tea and if you are addicted to tea you can replace it with milk. We can get our reward (pleasure) by performing some other activity which is economical for ourselves. In short, trigger and pleasure will be the same and routine will be different.
Solutions:
Invest in stock market:
What you need to do is, just get yourself registered with some reputable broker and make an account in the stock exchange where you can buy or sell shares of different companies. This process is very easy and cheap as you just need to provide some documents to your broker and they will give you ID and password. Whenever your trigger gets executed and you feel bored and it pushes you to do shopping, rather than going to market to purchase just open your broker app and buy some shares. It will give you the same reward and same feeling of excitement and happiness as you get after physical shopping. While seeing the prices of shares, it gives you the feeling of window shopping. When you purchase it, your feeling will be exactly the same even more as if you just purchased something physically. By doing this, you will achieve two things, first you will get immediate reward and secondly when you will get up the next morning you will again feel happy because your money is still in your hands.
Set your monthly goal:
By setting a monthly goal you can save your money. You should save at least forty percent of your monthly salary. Share this goal with your family, friends and colleagues. When your friends force you to go for dinning or shopping, refuse them straightforwardly and even tell them that I have set my monthly goal and I am running out of my budget, I can go with you for dining but you will pay for me. LOL. By doing this, you will develop your saving habit.
Automate your monthly income:
Automation is the best way to save your money. You can purchase property on installments. Even if you don’t want to pay your installment, due to compulsion you will pay it. In the same way you can invest in different schemes like insurance policies in which you have to pay them monthly for some years and at the end they return your money profit.
In conclusion, spend your money wisely and don’t be extravagant. Invest your savings in property so that you can become wealthy in the future.
Thank you
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