Leave Your Bad Spending Habits in the Past
Posted On: January 9, 2018
There’s never been a better time for a fresh start than the start of a new year. But, a fresh start can be tricky if you find yourself unable to afford your new ventures. Make the most of things by ensuring every dollar you have goes somewhere worthwhile, thanks to these helpful tips.
Budgeting is a Big Deal – the first step of any successful financial well-being is budgeting. If you don’t have a budget mapped out yet, stop reading right now and go do that. Some key things for you to keep in mind: don’t spend more than you earn, separate expenses into needs and wants, and then maybe really consider how much you want something. Is your daily treat worth it? A $5-cup-of-coffee-a-day habit adds up very fast. If you do have a budget, good! Be sure to stick to it!
Credit Mindfulness – This one is easy in theory: stop using credit cards like free money. When left unchecked, credit cards are the greatest enabler of bad money habits; use them only strategically to keep your budget intact.
Services Not Serving a Purpose – you might think those 5 streaming services and 2 gym memberships are worthwhile investments, but unless you’re using them regularly, they’re not. Make the most of your services to make the most of your money, or cut your services to make the most of your money. It’s an easy either/or.
Feeding the ATMs – In the spur of the moment, you might use the nearest ATM regardless of whether or not it’s in-network. And if it’s just a one-time endeavor, that’s okay. But if you make of habit of using whatever ATM you’d like, you’re at the whim of ATM fees and just throwing away chunks of your disposable income. Make it a point to only use in-network ATM machines so you can check your balance and withdrawal for free.
Late Bill Payments – One late bill payment won’t be the end of the world, but nothing is worse for your financial health in the long run than continuous late payments. Keep your credit score healthy by being mindful of upcoming payment dates. An even easier solution? Auto-pay.