Emergency Buying And Unplanned Expenses

Emergency Buying And Unplanned Expenses

Emergency Buying And Unplanned Expenses; Causes, Remedies, and How to Cultivate a Great Saving Habit. Emergency buying is a hasty shopping spree that happens when we need stuff urgently.

That’s as opposed to planned shopping. It’s detrimental to a saving culture and doesn’t make for good budgeting.

Think rushing out on Saturday night to buy fresh tomatoes because the next day is Sunday, and it may not be available.

Or buying Christmas clothes on the 24th. Rush. Rush. Rush. purchasing stuff under hot breath because you need it urgently. The sellers will sell to you at high prices, and you’ll be forced to buy without a choice.

Reasons for Emergency Buying.

  • Poor or no Plans at all: There are people who do not map out plans for their daily lives, they prefer to sit and watch things play out on their own.

These people always end up being behind the normal schedule, hence they are thrown into an emergency.

Take, for instance, you were given an invite to a dinner party a few weeks ago, you know you don’t have what to wear and you need to sort of one. You possibly imagine in your head that a red dress is hanging in your wardrobe. 

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On the deal day, you go to your imaginary red dress, but you discovered you wore it to a wedding the last time, and you didn’t take it to the laundry.

You scurry to the Boutique downtown, but they’ve closed. Your head becomes heavy because it’s your fiance’s mum’s birthday, and you shouldn’t miss it.

At the end of the day, you end up in another boutique. You ask how much you could get that beautiful dress. They tell you it’s double the price of it you know. You ask for the most affordable, they see you’re in a hurry, they charge you more. You’re left with no options, you pay, you go to the party, your savings have been tampered with, you’re heartbroken, but you’re helpless.

  • Failure of Vendor to meet up with Schedule: We cannot tie the blame around you all the time. Sometimes, the fault isn’t totally ours.

You have a vendor. The type we call “regular customer.” They’ve never failed you, hence the level of trust for them when they said they’d deliver the cake on your parents’ wedding anniversary.

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They promised to deliver in my 7 AM. The time is 10 AM, but they are nowhere to be found. You call their line, but they aren’t picking up. You kept calling. You were devasted when you saw it was 3 PM. It was almost time for the anniversary party, but no news from your caterer. 

You rushed to a catering shop. They charge you triple the normal price because they see you’re in a rush.

You bought them because you had to. You just had to.
  • Unforeseen Volume of Work: You had a child christening ceremony and you paid chefs to do the needful. The needful was done and the left you and your family to handle the serving of guests.

Just when you thought everything was over, people started coming in their numbers. You didn’t expect they would turn up that way, but they did.

The food was finished. It was getting late. These people needed to eat something. There was no way you’d let them leave like that.

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You approach the restaurant on your street and spoke to them about the situation at hand. They told you they’d give you all their food, but a huge sum of your money would do a big deal.

You pay because you’re helpless.

  • Poor Saving Habit: There are these people who do not have a problem with any of the aforementioned causes. What they lack is self-control, that they can’t save a penny.

They are the ones who say “We only live ones,” but at the tail end, they end up crying because they are stranded and are left with no money. 

When the groundnut seller passes by, they buy. They stroll and see the suya seller, they buy. They buy everything unplanned.

To avoid these, there are new characters you could cultivate to help you stabilize your saving life, reduce the heat in rushing things up, and make unnecessary any uncalled expenses.

  • Plan Ahead.

As you already know that poor planning can affect you, you need to make plans long before an event or occasion.

Buy things long before you need them.

  • Be Determined to Develop a Strong Saving Culture.

When you have money, determine to save at least, 5 percent of your earnings. Keep it safe, or invest it in a reliable business.

Emphasis on “reliable.” Be mindful of Ponzi Schemes that might disappoint you. 

  • Stay away from Buying Things Randomly.

Like buying gala and coke because you bumped into a seller. Not because you need it.

  • Do Bulk Buying. 

Gather money and buy plenty at one. It saves time, energy, and money.

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