Bad habits are hard to break, but if you want the numbers in your bank account to stop shrinking, you’re
going to have to break them and break them fast. Here are four money-related habits that you need to
change as soon as possible if you want to get control over your finances:
- Blind Spending
When experts say to watch your spending, they mean it. Not keeping track of your purchases puts you in
a precarious financial position. You could end up with nothing in the bank before your next paycheck
arrives. You could miss an important payment. And worst of all, you could stumble into debt.
The first thing you need to do is to start tracking your spending. You can do this easily with the help of
personal finance apps — they will show you exactly where your money is going and how you can make a
sensible budget. A little bit of awareness can stop you from making dangerous financial mistakes.
- Ignoring Your Debt
Maybe you’re already in debt. If that’s the case, you can’t tell yourself that you’ll deal with it at a more
convenient time. The problem will keep growing, whether you like it or not. You need to tackle your
If you’re not sure about what to do, you can learn from a professional how to live debt-free and manage
your money better in the long-term. Your best bet is to find a licensed insolvency trustee to get this debt
help. They offer a variety of debt solutions, including how to build better credit and how to deal with
insolvency. A helping hand can make a big difference.
- Skipping DIY for Convenience
You have to pay for convenience. Instead of making your coffee at home and pouring it into a travel cup,
you pick up a latte to-go at the nearest Starbucks. Instead of putting together a meal in the morning, you
grab takeout during your lunch break.
Stop sacrificing your financial stability for a little bit of ease. Brewing your own coffee, cooking your own
food and running your own errands put lots of money back in your pocket.
- Impulse Buying
An impulse buy is something that you want, if only for a second. It’s a pair of shoes that popped up in
your Instagram feed. It’s a dress that you saw in a boutique window with a big sale tag on the front. It’s
a treat that you bought at the last second in front of the cash register. Even when impulse buys are
small, they add up.
You need to replace your habit of impulse buying with mindful spending — this method prioritizes your
needs over your wants. Buy what is essential, not what is desirable. You shouldn’t treat shopping like a
game. You’re playing with your own money, after all.
Breaking habits is hard, but it’s not impossible. Soon enough, these changes will become a part of your
regular routine. And if you ever have a dip in conviction and need some motivation to stick to these
better financial habits, just take a look at the money in your bank account.