Spending Habits That Make You Look Broke

At some point in your life or even now you have had at least one bad spending habit. My bad spending habits started in college when I was approved for my first credit card. This type of behavior leads to unnecessary debt and can lead to financial crises such as bad credit, collections, judgments or wage garnishments. 

These habits can be inherited from parents, relatives, siblings or friends. These habits usually start or are implanted in your subconscious as a child and stay with you throughout adulthood.

Determine where the bad spending habits started. Stop these bad habits now will save you time, money and stress in the future.  

Examples of bad spending habits are: overspending or spending more than you earn, impulse or emotional shopping, using payday loans or check-caused stores, using money orders instead of writing checks or using online banking; talking about your purchases and the cost.  Here are x way to stop bad spending habits that make you look poor. 

RECORD SPENDING HABITS

To stop bad spending habits write down your daily spending on paper and pen, Word or Excel or use a smartphone app. Assess your spending each week to determine areas where you can reduce spending.

Create a budget to track spending or use a budget app. Create realistic financial goals to help you stay on track with your spending. Go on a 30 day spending fast. Stop charging and buy only basic necessities.

Use voice recording, set alerts or reminders when bills are due and any other tasks to help you eliminate your bad spending habits. Seek professional therapy to help change your mindset.

DO RESEARCH

Comparison shop to obtain at least 3 price quotes to find the best deal. Search online and on social medial sites for discounts and specials. Sign up for email or text alerts. Use comparison sites like Amazon, Bizrate and Price Grabber or smartphone apps like BuyVia or RedLaser.

SET REMINDERS

Sign up for email or text alerts about coupons, discounts or specials on item your regularly purchase. Use cash back or rewards points earned to make purchases.

PAY LESS

You no longer have to pay full price for any item. You can comparison shop, ask for price matching or negotiate to obtain a lower price.  Reduce temptation when shopping and leave your debit card or check card at home.