1. Not Budgeting

A budget allows you to see how much money you are bringing and keeping track of where it is all going. This helps you make the necessary changes to help you save even more money. With a budget, you will avoid wondering where your money has gone at the end of the month and relieve yourself from stress.

Budgeting doesn’t take a lot of effort to start. You can start budgeting with a simple amount of money. I like to use the envelope budgeting system. You put money into envelopes labeled with the things you need to pay monthly, such as rent, food, car payments, and more.

Another way to track your spending and keeping a budget is using a budgeting app. Here are some apps to Help Stick to Your Budget With These 5 Apps!

2. Relying On Credit Cards

Credit cards can be expensive and if you aren’t using it properly then you are not helping your financial situation. Using credit cards to cover basic things like food and rent or using it for mindless purchases to help you live above your current income is setting yourself up into a financial trap.

Build a better habit by only using your credit card with extreme care and planning. Do not use it as any other form of debt to cover your bills. If you do accumulate debit, devote some of your spare money to get rid of the credit card debt. Make a plan for dealing with your debt by budgeting an amount to pay off some of your debt each month.

3. Not Prepared

Not being prepared for an emergency is a money issue you need to fix ASAP. An accident will happen, a job might be lost, or something breaks. You will then need to fix it or be financial prepared for any emergency, especially when it comes to your finances.

Don’t be caught off guard and set up an emergency funding before it’s too late. Check out Building an Emergency Savings.

4. Ignoring Coupons And Deal Sites

If you aren’t taking the time to check out daily deal sites or use coupons, then you are spending too much!

Build a better habit by trying just one deal or coupon site. You will find tons of coupons and deals related to clothing, electronics, tools, travel, entertainment, and more! Here are some places to help you get started with couponing. Check out 15 Money-Saving Sites Like Groupon too!

5. Paying Your Bills Late

When you pay your bills late your credit score dwindles. You could cost yourself even more money if there are late fees or interest charges.

Build a better habit by always paying your bills on time. You might consider enrolling in auto-pay if there is this option available.

6. Not Saving For The Future

When it comes to money you need to know there needs to be a balance. Not saving for the future will set you up for a life of hardship and financial stress, especially when your retirement comes around. Help build your wealth and future by starting to save for the future and work towards your goals to get there.

7. Skip Convenience

Occasionally, a convenience purchase feels like a nice treat or a necessary exception. If you find you are making these regular convenience purchases, then you might be costing yourself more than you know it.

Stop eating fast food every day. Instead, learn to meal plan. You can make a few basic meals in bulk that you can enjoy during the week. Make a habit to prepare a dish that you can use for your weekly lunches at work. Separate them into meal containers and freeze the extra for future lunches.

8. Stop Impulsive Buys

Anything that tempts you to spend money, such as impulsive purchases you need to stop immediately. Don’t jump to buy it before you think about whether you really need it or can afford it. If you are really wanting to purchase an item, make sure you have the extra money to spend on it and if you need the product. Chances are you will realize you don’t need it after all.

What is a bad money habit you need to stop ASAP?