What you shouldn't do with your money to avoid going broke: advice from a financier

A financially successful woman and author of the book Own Your Career, who regularly shares budgeting tips, has revealed five things she never does with her money.

Michela Alloca shared this on her TikTok page to help others improve their financial habits. The expert emphasized that "what you don't do with your money is just as important as what you do with it."

Don't spend money on things you don't like

If you bought an item online and realized that you don't like it, don't be lazy and return it.

The expert warned that keeping things you don't like or don't use is like "generally flushing money down the toilet."

She also accused many buyers of being "lazy" and urged people to make 2025 the year of returning things they don't like.

Don't use your credit card recklessly

The expert noted that she uses her credit cards responsibly, never accumulating debt and spending only what she can pay off in full at the time of purchase. She advised those who have credit card debt or struggle with responsible use to take this issue more seriously.

Don't buy on sale

"I don't make purchases just because there's a sale, so if a store I like sends me an email about a sale on jeans, I'm not going to buy a pair of jeans just because I saw that email," the expert said.

She explained that while she would make a purchase if she really needed the item and it was on sale, an impulse purchase triggered by a sale notification was unacceptable to her. She also emphasized her philosophy with words: "If you buy something you don't need on sale, you're not saving money, you're just wasting it."

Don't forget to track your spending

Keeping track of your expenses is crucial. One of Michela's key financial tips is to keep track of your expenses.

She considers this practice extremely important for her peace of mind, stating that it is the financial habit she is "most religious about" and admitting that it makes her feel "so much better." In the weeks when she did not monitor her spending, Michela felt "much more financially anxious," fearing that her spending was out of control.

Subscribe to the OBOZ.UA channels in Telegram andViber to keep up with the latest events.