(ThyBlackMan.com) Most people don’t realize that they’re losing huge amounts of money each year by doing things that are easily avoidable. We all need to pay bills, but there’s absolutely no reason you should be losing out on money. Below, you’ll find 5 things you might be doing that will be negatively affecting your finances.
1. Online Shopping Without A Cashback Site
We all love a bit of online shopping every now and again, whether it’s something we genuinely need or a cheeky treat. However, you should never shop online without a cashback site. Going through the cashback site before you buy will mean making a small percentage back on your purchase. It can take a while to clear and the percentages may only be small, but you can build up a decent amount of money if you leave it alone for a bit. You may also find a discount code or two, as well as other bonuses. 
2. Not Making A Financial Plan
Making a financial plan is so important, and the earlier you do it, the better. You will be able to outline your goals, which will motivate you to look to the future and make smarter decisions now.
You can also budget for various areas of your life, whether food, toiletries, or entertainment. If you spend on these things without giving yourself a budget, it’s so easy to buy more than you need. With a budget you have set yourself, you should be able to avoid waste and make better decisions.
3. Sticking With The Same Providers Year In, Year Out
Sticking with the same providers year in, year out is a huge mistake. Every year you should be on the look out for the cheapest car insurance – don’t trust your insurance company to provide you with the best quote. They don’t care that you’re a loyal customer! Once you’ve found a better quote, you can call up and see if they will match it. If not, you can easily move. The other provider will usually do all of the work for you, and you can do it the same way with just about any bill, whether your phone contract or your electricity. Don’t just let these things roll over!
4. Saving Without Paying Off Your Debts
Saving money is awesome, but you should put a focus on paying your debts off first, if possible. Interest can really add up, and it can become unmanageable before you know it. Start now, even if you focus on paying off a small debt first. There are various methods of paying off debts that work for different people.
5. Giving In To Impulse Spending
We’re all guilty of giving in to impulse buys from time to time. However, if you force yourself to wait at least a couple of weeks before making a purchase, you’ll come to one of two conclusions. You’ll either decide you didn’t want the item after all and will save your money, or you’ll know you truly want the item and will feel all the more satisfied when you get it. Many urges to spend money on things will disappear after a few days, and you’ll save a fortune!
Staff Writer; Mary James