They wrote about "10 Bad Money Habits That Are Robbing You Blind."

Here’s how to change those bad behaviors.
Developing good habits helps us focus on things that need our attention most.

But as you work to get your financial life on track, you’ll probably find old, counterproductive habits undermining your progress. Some of them worked once, but now they’re holding you back. Others have always been bad.

Dropping bad money habits makes it easier to power up your financial life. Following are some bad money habits and tips for ending them.

1. Carrying a credit card balance

Carrying a balance on a credit card is like walking down the street with a hole in your wallet and letting money leak out.

Here’s why: Suppose you are paying down a $5,000 balance on a card charging 15% interest. If you only pay the minimum amount each month, it’ll take decades to pay off the debt and cost you thousands of dollars in interest.

Build a better habit: Devote every spare penny to getting rid of credit card debt. If you have other pressing debts, make a plan for dealing with all of them. For more tips, check out “Resolutions 2020: Crush Your Debt in 3 Simple Steps.”

Keep the balance from building again by making a new habit of paying off the entire bill every month — no exceptions ever.

2. Failing to fund a retirement plan

There are compelling excuses for putting off saving for retirement. But none of those excuses will matter if you reach retirement age with little saved. And, if you don’t take advantage of your employer’s matching contributions to a retirement plan, you’re passing up free money every month.

CONTINUES…read more at: https://www.moneytalksnews.com/10-bad-money-habits-that-rob-you-blind-and-how-quit-them/

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