Spending habits

Impulse spending: Can you control it?

This is not a fantasy nor is it a mind game, it is a deliberate call to give you a sound personal finance experience.

Out of pocket as many would call it, is an expense or payment made out of your own money which may later be reimbursed but may not be necessarily reimbursed. Every penny you own including all your savings in your bank account has a value which can be exchanged for goods, services, personal growth or investments.

I have met with many people who are earning fat income but are living pay-check to pay-check. They are neither low earners nor low spenders. Oh! That might bring confusion but in simple terms, they spend almost everything on bills and expenses.

They live considerably below their earning and that has made them to keep postponing any opportunities that comes their way. If you are one of those that live the ‘out of pocket’ lifestyle, waiting for your next paycheck to foot your bills, once you get fired or retired is when reality will dawn on you.

The ‘Out of pocket’ lifestyle is not for salary earners and CEOs of small businesses who think of their early profits as gains for their initial hard work and consistency, rather than as an earnings to be re-invested in expanding the business cycle so as to keep up with the changing business environment.

The mind is not out of play as it is the seat for all decisions in life. Before you spend a dime, the mind would have processed it. The mind is a powerful tool, a potent one if it can be trained to be disciplined when it comes to spending money.

Rewiring your mind’s psychology and willingness about making money can walk you down to the desired state of financial freedom.

Spending is done first in your mind before you proceed to take the money of out of your pocket or digital wallet.

So be productive while thinking about money to avoid living pay-check to pay-check.

Track your spendings on Kurepay and be in more control of your finance while you work towards achieving financial freedom.

Leave a comment