We know the first month of the year can be a little bit overwhelming with spending and if you’re trying to stay out of debt then it gets even trickier. 

Although there are a lot of tips about saving, its difficult to find an easy guide on what not to do to avoid going broke [read ‘broke’ as financial crisis]. 

That said, don’t get too anxious. We all have bad spending habits we’re aware of. So keep reading because we’re going to show you what not to do if you want to be in good standing financially this year. 


Yes, we said it – IMPULSE SPENDING. We’re talking about the ‘I see it – I like it – I want it  – I buy it’ crew. 

There’s nothing getting in your way of spending, especially when it’s on sale. 

It’s like when you go to the supermarket for just milk and then you see the “Buy 1 Get 1 free” sign and poof! you end up with a cart full of items that were not in your budget/plan all because – it was on discount. 

Lesson: It’s good to have an estimate of the amount you’d like to spend before heading out & if you’re going shopping, make a list, so you don’t end up buying what you don’t need.


Repeat after me – “I don’t need to go out with all my bank cards”

This is the perfect way to avoid swiping for everything. 

When you have your bank cards, you always have it at the back of your mind that if you don’t have enough money on one card, you can just keep trying the rest. If you’re trying to avoid going broke, you definitely should not be doing this. Removing the temptation to overspend is a great way to avoid going broke. 

Lesson: Ensure you take one card with the exact money you’d like to spend on the card. Maybe with a little extra change for unplanned expenses, but not too much. 


Hard Truth: Stop buying things you don’t need because you want to keep up with a particular lifestyle. If you can’t comfortably afford the lifestyle, then let it go. Don’t buy that designer bag, do you really want to eat out for the 6th time this week? Is going clubbing and spending more money the best way to spend your time? 

The thing about keeping up appearances and living above your means is that it’s not just about living your best life or enjoying yourself, after a while, it’s just about the performance. 

Lesson: Being conscious of your spending is one thing, living within your means is another [very important] thing. 


The worst thing to do here is to ignore the fact that you’re losing money and keep spending because you only live once, right?

Lesson:  If you can’t stop spending, you can look for a passive way of making income or start charging for a skill you know you’re good at and can offer as a service to people. 

Yes we know we’ve dragged a couple of you but all we want is for you to take your money serious and start saving or investing in something profitable, not every time spend till you go broke. 

Published by Wendy

Head, Branding and Storytelling