Money Traps

Beware the pitfalls of a hectic lifestyle. This is about being too tired and rushed to plan meals and as a result, eating out too often. Many families find planning out the weeks’ meals on the weekend is efficient and saves a ton of money (and calories) from take-out.

Another pitfall of double-income families is a feeling of entitlement. This leads to increased impulse buying and ‘retail therapy’. Whatever you call it, it eats away at your savings and budget. Again, the key is to plan before you get to the mall, and that includes planning the splurges. Decide ahead of time how much discretionary money you have to ‘play’ with and don’t exceed it. It’s best if you carry the discretionary funds as cash. When the cash is gone, it’s time to go home!

 

Information was by Kickstarters.ca