trapp
Anyone here! how did you build your financial habits of saving and not using multiple credit facilities. In today's world, due to multiple offerings by companies, it becomes very enticing to take up credit for phones, travels, business. How do we not fall into this trap, before ending up into a debt trap?
Just today, I cut my credit cards into half, uninstalled all micro credit apps such as kreditBee, Slice, CRED etc. uninstalled Swiggy, Zomato, Dunzo. Uninstalled Facebook, Instagram(to avoid Ads). I’ll test my will power. I think you should do same
Add friction to how you access money. I had Zomato installed and I linked it with Simpl. I noticed my spending got increases because less friction. I did not need to enter the upi pin rather a one click payment. I removed the integration and uninstall simpl too. This is just one of the examples.
I uninstalled Amazon, Flipkart and Myntra from my phone to not buy things unnecessarily.
The more friction you will add in the way how you spend money, the more you will end up saving.
Exactly
Surround yourself with people who value small things and don't need to go overboard or extravagant to enjoy things.
Educating yourself on personal finance. That's the only way.
Using only 1 and the same credit card for last 10+years.
No loans/debt. Proper exposure to Equity vs Real-estate. Liquidable investments vs stuck illiquid investments bring a lot of difference and confidence accordingly.
