It’s holiday shopping time, which means a lot of dollars are being spent. Those of us in our twenties haven’t had a lot of time as an adult to establish shopping routines and habits. To make sure you are setting yourself up for financial success in the decades to come, below are some shopping tips to reform the most common bad consumer habits.
Debt-financing your “wants” is the first bad habit. We all play the comparison game and run out and want to buy the latest and greatest of everything. The mentality of comparison is normal; people always want what they can’t afford. This becomes a real problem when you continue to habitually indulge in “keeping up with the Joneses” in your 20s and fall into a cycle of debt.
Debt in your twenties can prevent you from achieving milestones in your 30s, like becoming a homeowner. This is why your twenties are the prime time to nix this habit in favor of a more future-oriented financial mindset. So the cardinal rule is don’t buy what you can’t afford comfortably.
The second bad habit is succumbing to sales deals. It doesn’t matter if you are scouting out home goods or food—hitting up a store without a game plan can be risky because there are strategically placed clearance items and buy-one-get-one deals that may tempt you. Bottom line: it’s not a deal if you never end up using it. So before you even hit the stores, come prepared with a list of what you really need to buy.