Who really wants to be bad with money? Sometimes it just sort of happens, and you wake up one day in a difficult situation. If you can swap the bad money habits that creep into our lives for positive habits, and start making good financial decisions, you’ll be happier and less stressed out.
Living Without a Budget
The idea of a budget hurts, but it’s key for understanding how much money is coming in, what you can spend, and more importantly, what’s left over for saving and investing. Between all the apps and spreadsheets out there, it’s easy to plug in some basic information and start tracking. Weekly and daily updates will help keep you from spending out of control, which will help you avoid the next bad money habit.
Living Beyond Your Means
Overspending is one of the biggest challenges facing people today, with our consumption-driven economy and the fact that we hardly ever pay with cash. If you’re charging basic necessities, running up credit card balances, and borrowing money, you’re clearly spending more than you have. Allocating dollar amounts and holding yourself accountable is the way to do it. And, if you prefer to pay with plastic, use a debit card or pay your credit card off in full each month.