These Money Habits are Keeping You Broke

Do you find yourself cash poor between paychecks? If that sounds familiar, you may have some bad money habit. You are spending more money than you should, and not saving it when you need to. Those are money habits that you need to replace with money saving solutions instead.


Six Habits Draining Your Wallet

Here are some bad money habits that you may have right now:

Always paying full price — When you’re making just about any purchase, you should take the time to see if you can get it at a lower price somewhere else. Put a 24-hour hold on any purchase decision and comparison shop. You can save yourself hundreds, if not thousands, every year.

Stuck at the same bank — Changing banks can be a bit of a pain. But, how much are you paying in fees? Are you getting the best interest rates? Once every few years, it is smart to look around and see if you are getting the best banking deal.

Patronizing the same companies for professional services — Loyalty is a great thing. But it can end up costing you a lot of money in the long run. Check other insurance companies for better rates. Is your dad’s real estate attorney really the best person to advise you on environmental law?

Wracking up credit card debt — It is so easy to whip out a credit card when you see something you want to buy. Instant gratification. But, there is a certain satisfaction saving money for a purchase instead of financing it. Plus, you are not paying interest on the debt.

Putting your image before your financial well-being You want the latest clothes. You want a new car. You want to go on the best vacations. Looking good is all important to you. But, if you’re financing everything and have no savings, your image is costing you far more than it should.

No long-term financial goal —  Where do you want to be financially in a year? Five years? If you don’t have financial goals, you have nothing to work towards. You live day to day. And you end up deeper in debt with little to show for it.

If you are having problems paying your bills, contact us here at Superior Debt Services. We help people get their financial lives back on track by offering money saving solutions.

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