4 bad spending habits
ByRead this and learn how to break these 4 bad spending habits and get your finances under control this year.
All we heard in the news media during this entire fall was gloom and doom regarding the retail merchandisers. “This is going to be a bad year”. Everybody said that this would be the worst year in the last 20 years for shopping this holiday season, but the spending during this last holiday season was actually by 3% over the previous year. And guess what, the news media hardly mentioned it.
People still like to spend money. It’s what I call spending habits. They are good spending habits such as buying food, clothes on occasion, gas for your car, paying your mortgage, and utility bills.
Then there are bad spending habits.
Number 1. Eating out at fancy restaurants. Eating out is fine if you can afford if you can’t afford it becomes a bad habit. Can you believe that people are actually addicted to eating out? Mary and I like to eat out and when we do go to nice restaurants we oftentimes will split the meal. This way we can eat at a nice place for half the cost and other reason is that the portions are so large that we will wind up with food sitting in the refrigerator, which only occasionally gets eaten and is usually thrown away.
Number 2. Dieting. How many know that these diet programs cost money and generally the weight is lost will be regained within six months. I have been seeing people on television and on this certain diet they also to be on, they talk about all the weight they lost and then six months later they look as big as they ever did. Not good for you and it is certainly not good for your budget. I have lost 20 pounds in the last two months eating whatever I want, I just eat less of it and I stopped snacking late at night.
Number 3. Gambling. You absolutely would not believe how much money is spent in these casinos, at the track and down here Florida at these so-called arcades, which are really mini casinos. It is nothing for people to put $50-$100 a day into these machines. The thing I learned about gambling years ago is that you are not meant to win and if anybody thinks they are they are terribly deceived. I would rather lite a cigar with my money and I don’t even smoke.
Number 4. Credit card debt. Buying things you don’t need with money you don’t have. If most people would stop doing this the whole financial life would turn around.
Jimmy says, a spending habit is only bad if you don’t need the items and if you can’t afford the items you’re spending money for.
Whoa Jimmy?
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Bad spending habits can be corrected and if you have any tips please share with our readers in the comments.
Thanks for posting the article, was certainly a great read!