Keeping track of your purchases will also help you avoid credit card debt that could block your path to wealth (and this debt is super easy to accumulate if you aren’t keeping track of your expenses). Saving money is vital to your future financial success because it means you have money available to you in the case of an emergency. It’s impossible to tell where it has gone. Guess what happens when you don’t keep track of your money? Keeping records of your income and expenses is important because then you know what you are earning and spending in relation with each other and can see ways that you might be able to save money. I have personally never been disappointed at the purchase of items from Amazon Prime – best bonus is having it delivered to your door that very next day!.Īll this extra money you save can be put towards your savings account instead.īETTER MONEY HABITS HABIT TO DITCH ASAP #2 – Not Keeping Good Records:Īnother financial habit that will make it difficult for you to be successful is not keeping good records.
You can wait until you can buy it at a more affordable cost or see if you can buy it online and have it delivered for a cheaper price. Knowing that you are paying a great deal more money for not much more convenience will allow you to stop yourself when you are considering it. Just $10 wasted each day equals $3650 over the course of a year. The only issue is that all these incremental price increases ADD UP. I know, I know, this is the trap we often fall into when we want something immediately.
Chances are if you go to grab it from your local convenience store it will cost you $10.īETTER MONEY HABITS But it’s only $5 more! Is that what you are thinking? Store owners know this too and they often take advantage of your desperate need to have something RIGHT NOW.įor example, let’s just say you want to buy some motor oil and the cost is $5 at a big department store (or any big place offering motor oil). One of the worst bad habits that people have is wasting money on convenience. Once again these are the habits I WANT YOU TO DITCH ASAP.īETTER MONEY HABITS HABIT TO DITCH ASAP #1 – Spending Money on Convenience: My goal instead is to introduce you to three habits that I want you to AVOID before doing these will almost certainly prevent you from achieving the financial success that you desire. Now the goal of this goal isn’t to transform you into some magical financial guru (not possible after reading just one post and not actually taking action). Whether that means saving enough money for a home deposit or having enough cash put away for emergencies or future investments.īETTER MONEY HABITS But most people often wish they were better at managing their money. Of course, we all wish we could fall into the bucket of developing great financial habits from an early age and having these habits bring forth lots of financial success in our future. While some of us are great at handling and managing our money, many of us are unfortunately not. When it comes to money and finances, it’s time for a little wakeup call. Want to develop better money habits? Here are 3 financial habits to ditch ASAP for more moolah $$$ in your life. Better Money Habits – 3 Financial Habits To Ditch ASAP
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