Stay in fashion and out of debt
Making your pay last the month is often a struggle for many but even more so for women who love to shop.
Keeping up with the latest trends and constantly feeling the pressure from society to look fashionable is costing many Australian women more than they can afford and plunging many into debt as a result.
A survey of over 1000 Australian women showed 33 percent had no savings and 43 percent had less than 1000 dollars due to their shopping habits.
Another study showed on average an Australian woman spends $150,000 on fashion items alone of the course of their lives and the report estimated 12 months of the average woman's life is spent in shops.
More worryingly, an Australian female shopper is likely to hand over three times their wage for a must have item.
Although women spend on average 15 minutes longer than men in shopping malls looking to add to their wardrobe men have also been shown to sway towards this type of spending.
The main difference is than men will spend a large amount of money on a good suit, shoes and coat for example, all in one go.
Check Your Bank Balance Before You Buy
Many people tend to turn a blind eye to the cost of going into their overdraft or being unable to repay their credit card bill when they see something they really want.
It is vital you know exactly how much you can afford to spend before you make your purchases to ensure you do not end up in debt of which you cannot afford to repay.
Make sure you stick to this budget and if you find an item you particularly like take the time to save up for it, this way you will feel less guilty about buying it and you are sure you can afford it.
A payday loan is a quick way of accessing cash if you are unable to pay for essential items one month due to your shopping habits. It prevents you from going into your overdraft and racking up high interest on the money you borrowed.
