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4 Most Common Spending Mistakes

Fri, Aug 24, 2018 at 4:59PM

4 Most Common Spending Mistakes

Most people are aware that living beyond their means usually leads to financial problems. But did you know that there are many other ways to end up in a sticky situation when it comes to having ample cash on hand? The fact is that even if you’re doing everything “right,” not taking every opportunity available to you could create unnecessary money troubles.

On the other hand, when you practice tried-and-true spending strategies and take advantage of helpful money assistance (such as Palm Coast payday loans), it’s easy to achieve long-term success with your financial goals. Read on to learn how to avoid common spending mistakes, and how you can set yourself up for success.

1) Frivolous Purchases

It’s one of the favorite games of retail stores. They purposely put “impulse buys” and higher priced items at the front of the store, or at the eye-level of children. A small treat once in a while definitely won’t break the bank, but everyday expenses can add up fast.

For example, financial experts say not buying just one soda or coffee per week could save you $10 to $20 a month. Over time, that adds up to big savings. You could use that money for a variety of purposes, from paying bills to saving for a vacation or buying something you’ve wanted for a while. 

2) Cutting-Edge Technology

If you’re like most people, personal electronics (mobile devices, computers) are a major part of your life. In fact, it’s hard to imagine a day without access to a smartphone or tablet. However, the latest gadgets often come with technical glitches. Recently, some phones have even been known to catch fire due to a faulty battery.

That’s why financial experts say it’s best to wait a few months before buying any new technology. That way, you can be sure the kinks have been worked out. Most of the time, doing so will also save you money. Some retailers intentionally jack up the price in the first few weeks, because they know people will pay extra to be one of the first in line. 

3) Leaning on Credit Cards  

There’s a reason why credit card companies make it so easy to use their services. They want you to rack up debt so they can hit you with fees and other charges. Luckily, there are better ways to get funds for the things you most want and need.

Getting a cash advance in Flagler County is an easy process. At Check on Hold, we offer generous terms with some of the best repayment options in the region. Best of all, with 11 convenient locations throughout Central Florida, you’re never too far from quickly getting the cash you need. 

4) Ignoring All Sources of Income

These days, gift cards are a favorite item for birthdays, over the holidays, and more. They’re easy to get, you don’t have to wrap them, and they don’t take up a lot of room. Still, even when given with the best intentions, they’re not always exactly what’s most wanted or needed.

Maybe you never shop at that particular store or eat at that restaurant. Plus, using gift cards can sometimes become a complicated process at the register. Rather than let them collect dust, turn them into money you can use for other things.

Check on Hold pays the most cash for gift cards in Daytona Beach. You could walk out with cash in minutes. Our friendly and knowledgeable team members are always happy to answer all your questions and assist you with your money goals.

That’s partly how we’ve built a solid reputation as the go-to resource for payday loans in Sanford, Florida and throughout the region. Visit the closest Check on Hold location to learn more about getting the cash you need today. 

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