1. Overspending. Did you know that some women tend to spend more than they make? Every woman should be knowledgeable of her income and where every dollar is spent. Solution: Learn to budget, develop financial awareness, get organized, and check out our “5 Tips to Improve Your Financial Habits”.
2. Spontaneous Buying. Sales are exciting! However, shopping without intention results in impulse buys and spending more than what you’ve planned. Sales are mostly useful when you’ve planned to buy. Though you may find those Christian Louboutin “So Kate” pumps on sale for $374, you’ve still spent $374 dollars unplanned. Solution: Develop a system that allows you to save up or set aside a fund for possible spontaneous buys. Make note of upcoming sales and plan to buy things you’ve been planning for.3. Using Shopping as “Therapy”. We’ve all heard the term “retail therapy”, and realistically, shopping really is therapeutic for a lot of women. However, keep in mind that the calmness you feel while splurging in your favorite store is just a temporary fixation to the reality you’ve placed on the back burner. Solution: Don’t be encouraged to stop all forms of retail therapy, instead, be realistic and mindful while shopping to uplift your spirits.
4. Giving in to Peer Pressure: Sometimes, your friends and finances just don’t add up. Your attitude about your finances and your spending habits may not be the same as those around you. Perhaps you may want to spend less but are urged to spend more by those around, what to do?! Solution: Neglecting your circle of friends or a good time isn’t necessary, just make sure that you spend simply because you want to, develop responsibility with your finances, and of course use our 5 question guideline to determine if your network is worthy (hint, hint). Are you cleaning up your shopping habits? You can do it! Give us your feedback in the comments!