Let’s talk about something we’re all guilty of at some point—spending habits that secretly sabotage our finances. We work hard for our money, so it’s only fair that we enjoy it, right? But without smart spending habits, we could end up living paycheck to paycheck, drowning in debt, or missing out on real financial security. And we don’t want that for you!

So, let’s break down some common spending habits that could be hurting your wallet—and more importantly, how to fix them.

Overspending & living beyond your means

It’s easy to get caught up in lifestyle inflation—one minute, you’re perfectly fine with your old phone, and the next, you’re convinced you need the latest model right now. Social media flex culture doesn’t help either. But, luv, if you’re spending more than you earn, it’s a one-way ticket to financial stress.

Signs you’re living beyond your means:
🚨 You’re relying on credit cards for basic expenses.
🚨 You have little to no savings despite earning a decent income.
🚨 You feel anxious about payday because your money disappears too fast.

💡 Fix it: Start by tracking your income vs. expenses and setting spending limits. The key? Make sure your needs (housing, food, bills) are covered before splurging on wants.

Relying too much on credit & loans

Credit cards are great—until they aren’t. High-interest rates and minimum payments can trap you in a cycle of debt. And don’t even get us started on payday loans, luv! These “quick fixes” are bad spending habits and can snowball into major financial problems.

💡 Fix it: Use credit responsibly. If you must borrow, ensure it’s for something valuable, like investments or emergencies, not impulse purchases. Aim to pay off your balance in full every month to avoid high interest.

Neglecting budgeting & financial planning

If you don’t know where your money is going, chances are it’s slipping through your fingers. Not having a budget often leads to overspending and financial uncertainty.

💡 Fix it: Pick a budgeting method that works for you—like the 50/30/20 rule (50% needs, 30% wants, 20% savings). Use apps or spreadsheets to track your expenses and watch your spending habits. This way, you’ll stay on top of your financial game.

Ignoring small, recurring expenses

Ever signed up for a “free trial” and forgot to cancel? Or kept multiple streaming subscriptions when you barely use them? Those little charges add up over time!

💡 Fix it: Do a monthly subscription audit. Cancel what you don’t use and redirect that money to savings or investments. Small changes can lead to big savings!

Emotional & impulse spending

Retail therapy is real. Whether it’s stress, boredom, or peer pressure, we’ve all made purchases we regret and that only reinforce bad spending habits. The problem? Emotional spending drains your finances before you even realize it.

💡 Fix it: Try the 24-hour rule—if you see something you really want, wait a day before buying it. Chances are, the urge will pass. Also, set a “fun spending” budget so you can still treat yourself responsibly.

Not saving or investing

If you’re not saving, you’re one unexpected expense away from a financial crisis. And if you’re not investing, you’re missing out on growing your wealth.

💡 Fix it: Start small. Build an emergency fund with at least three months’ worth of expenses. Then, explore easy investment options like high-yield savings accounts, index funds, or even micro-investing apps. 

💡 Pro Tip: If you’re looking for a safe and reliable way to grow your savings, consider Tonik Bank’s Time Deposit feature. You can open up to five Time Deposit Accounts, with one of them earning up to 6% interest p.a. as long as you maintain an average daily balance of Php 10,000 in your Tonik Account.  You’ll earn more interest over time while knowing your funds are secure. Perfect for long-term savings goals, luv!

Falling for retail marketing tricks

“Limited-time offer!” “Buy one, get one free!” We love a good sale, but brands use these tactics to make you spend more, not save.

💡 Fix it: Ask yourself: Would I buy this if it weren’t on sale? If not, skip it. Also, set a spending limit on “sale” items to avoid unnecessary splurges.

Ignoring financial education

Money isn’t just about earning—it’s also about LEARNING…how to manage money wisely! If you’re not actively learning about personal finance, you might be making costly mistakes without even knowing it.

💡 Fix it: There are tons of free resources out there—financial podcasts, YouTube channels, and even local workshops. The more you know, the better your financial decisions will be. Now, that will surely help guide your spending habits.

The bottom line: small changes, big impact

Spending wisely doesn’t mean you have to deprive yourself. It’s about making intentional financial choices that set you up for long-term success. So, luv, are you ready to take control of your spending habits? Your future self will thank you!

And if you’re looking for a smart way to grow your savings, check out Tonik's Time Deposit to earn up to 6% interest p.a. Because financial freedom? Dasurv mo yan! 💖