Zari Maisha Magic Plus Season 2 Episode 78 13th Wednesday Full EPISODE

Bad Spending Habits That Are Making You Poor: How to Break The Cycle.

Have you ever wondered why you never have any surplus even though you earn better than most of your friends? Your money comes in around the 1st of every month, but by 10th you are looking at Money lending apps to save you the remaining part of the month.

Most of us have reasonable income but we are always stuck in the cycle of being rich at the start of every month and get poorer as the month gets on. Why? Poor Money Habits.

Here are examples of money habits that are making us enter into a financial crisis every Month.

1.Emotional Purchase

Humans are emotional beings.Most of what we do on a daily basis is based on our emotions. Our emotional triggers and responses are capable of affecting how we react to events presented to us.

 Let's take a realistic example, assuming that you have a very functional Samsung galaxy S23 that is operating very effectively.Why would you budget for a new Iphone 15? Emotion!

In Reality this decision is not led by rational factors. Maybe you need the Iphone because you love the brand. Or perhaps all your friends have an Iphone and now you feel inferior and you want to upgrade.

Emotional purchases are the main reason why you are stuck in the red zone. They drain your pockets and drive you deeper into debts.To break the cycle of emotional purchasing you need to have clear financial goals and make a budget around those goals. And most importantly commit to sticking to the budget.

2.Spontaneous or Impulse Buying

Spontaneous or impulse buying is a decision by a consumer to buy a product or service without a prior need or purpose. For example imagine walking in the supermarket to buy a packet of milk and you end up walking out with a new washing machine. 

You surely do not need a new washing machine since the old one is barely a year old! You bought it because you wanted to try the new model, but on the other side your bank account will be running dry.To break this cycle of impulse buying you need to stop making wrong financial decisions. Be intentional.

3.You Focus More on Paying Less as Opposed to Paying For The Value.

Sometimes, you might think that buying a Ksh.15k refurbished laptop will help you save Ksh.20k you could have spent buying Ksh. 35k brand new laptop. However, there is a chance that the laptop was not well taken care of during the refurbishing process, leading it to die on you at a crucial moment.

In the end you end up spending much more on repairs or replacement than you would have paid if you invested in value when you made the first purchase. To break this cycle you need to analyze the future benefit of each option.Go for the best value. The cheapest route is not always the most valuable.

In conclusion, there is no formula to financial freedom.Hence, if you want to make progress in your financial journey you need to be intentional about it. The first step is to know where you are going wrong and make the necessary decision.

Zari Maisha Magic Plus Season 2 Episode 78 13th Wednesday Full EPISODE