3 Money Traps We Often Fell Into

3:12:00 PM Rhea Mocorro 0 Comments

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Oh money! I wish it could be easy to keep you. It is just easier to spend you rather than have you.

When it comes to money it is very important that we get to make the most of it. Imagine, you are investing your skills, your time in order to get paid for how many days. That is why you must be able to maximize whatever amount of money you have. However, society seems to make this hard and all the more impossible. It felt like a jungle full of traps. If we are not wary and careful, we might end up losing our hard earned money.

With that in mind, it is best to avoid those pitfalls and traps. But the question is, what exactly are these traps that tend to capture our money?

Here are some:

Trap 1: Sale

There are really a lot of sales. Even before you enter in the mall, you would see that big red banner with that huge percentage off. How much more if it is payday and even the holidays? Your heart would definitely skip a beat and you would like to get your hands on those bargains. And that my friend is a trap. Not because it is on sale you would simply spend your money right there and there. If that thing is something that you will not use regularly, this would just be a waste of money and it is not a good deal at all. In the end you are not saving your money but spending it.

Trap 2: Free Items

They say the best things in life are free. And yes indeed they are. However in today’s society free might be one money trap. A good example is, you can get this free item if you buy this item. We are often lured to get free stuffs. Who wouldn’t right? However, if you will end up buying something first before getting that free item you just have to make sure that the item will be all worth it. Or it would rather be a waste again of your precious money. Another trap would be waiting in line in order to get something. But have you forgotten that time is money? If you end up lining there for four hours just to have a free burger it would be a total waste of your time. True you might end getting something free, but will it be worth your time waiting for it?

Trap 3: The Last One

Ladies knew best this third money trap. Imagine this scenario. You saw this pair of shoes you’ve always wanted. Then you tried it and it is just perfect. However, your budget is not enough. So you ask the saleslady if they still have other pairs for this. The saleslady told you that it is currently their last. And you got to have that now or else someone might. Competition kicks in your system and then you buy the item right away. Now that’s the trap. If you are in this kind of situation, again rethink the purchase. Not because it is the last you have to buy it right then and there. You will end up spending the money and you might not even use the item at all. Or else, you saw the same shoes in the shelf next week after you thought you bought the last one.

Knowing these money traps will help you be aware. Even more you would be more cautious with your money. Have you ever stepped into any of these money traps?


P.S To those doing the 52 Week Money Challenge, it is Week 23 already! Did you deposit the next amount yet?

P.P.S Want to know more about investing, savings, stock market and more, check out my reference here. You can download free ebooks and resources too. 

P.P.P.S I am also sharing my stock market secrets and information via these resources.

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