With LearnVest, that is. I am just really enjoying their finance articles. The article I’m sharing today walks your through one year of breaking bad money habits, starting in February. These are all taken from the LearnVest article. I love this article because it doesn’t preach to stop doing something, but in terms of say buying lunch, do it every once in awhile, not every day. I’ll summarize my favorites. them but check out the link if you want more detailed info.
February: Buying coffee, snacks, and lunch instead of bringing your own. Your grocery bill might increase a bit, but it won’t hold a candle to what your monthly budget looks like when you consistently buy these items.
April: Not prioritizing high-interest debt. Again, just get rid of it.
June: Carrying a credit card balance. If you can’t pay off your credit card at the end of the month, THEN YOU DON’T NEED WHATEVER YOU ARE BUYING!
October: Don’t set and forget your savings, constantly be trying to add more and more to that account.
December: Buying holiday gifts last minute. My sister is awesome with this. She starts thinking very early on about what she wants to get for people and starts shopping deals in July/August. We have been Black Friday shopping enough too that she knows when she can get good deals on stuff. She also is an ace at using her credit card reward points and using them to her advantage.
January: Gift cards. Ug. I honestly despise getting gift cards because I either forget that I have them and never use them or feel too much pressure of what to buy or buy stuff just to buy stuff because I have gift cards. If you are thinking about getting someone a gift card, just get them cash instead unless you know for a fact that they are going to use the gift card. And be conscientious of the gift cards too. Buying those Visa ones that charge you $5 to activate or something…just give the person cash and save yourself some cash.
What are some of your bad money habits that you hope to break? My big one this year will be carrying a balance on my credit card as I keep chipping away at paying them off. Getting closer every pay period.