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Bad Habits That Can Affect Your Budget


Many of us have bad habits such as working too much or staying up a bit too late each night. Some bad habits are small and relatively harmless, while other bad habits can affect major parts of your life such as your health. But some of the worst bad habits have nothing to do with your health – but with your finances.

Strictly following a budget is the best way to avoid financial trouble. Dodge spending too much money by covering your living expenses first and saving an ideal amount of money each month. Track your spending and set goals that will help you get ahead and reach financial security. Like most apartment renters, you need to remove most of the common bad habits that will influence your finances.

Everybody understands that living paycheck to paycheck is no easy task. With this in mind, it takes a serious commitment to create and stick to a budget, which is not a strong characteristic for everyone. No matter how successful you are at following your budget, people sometimes have to fish into their emergency savings and that’s alright. However, if you find yourself using savings because you ran out of money or because you want to do something fun then that is different. Over spending is one of the worst habits to break. Stick to your budget and avoid that tempting withdrawal from your savings.

bad-credit-card-habitsSince the age of credit cards, many people depend on them when they start to struggle. While credit cards are a useful tool, using them to the maximum can be a financial burden so it is wise to avoid using it as much as possible. The more you spend on your credit card, the longer it will take to pay off the balance, therefore you are spend extra each month for the payment as well as throwing money away on the interest fees. If you have a habit of using your credit card, you can force yourself to spend less by using cash when shopping. This will help you to avoid debt and high interest rates. It has also been proven that by using cash you are more likely to spend less.

Another tip is to avoid paying the minimum on your credit cards. Making only the minimum required payment each month will cause you more of a financial burden because of the accumulated interest. If you pay twice the minimum payment each month, you will pay a fraction of the interest as well as paying off the entire balance in half the time which can also mean saving some money.

Do you frequently grab coffee on your way to work or buy lunch instead of bringing it from home? While grabbing these things on the go can be very convenient, they are definitely costing you more money each month. Even buying a simple black coffee at the convenience store each morning can be costing you $500 to $600 per year. Although the cost may seem small at the time, it can add up quickly. Tracking your spending by keeping all of your receipts and adding it all up can also help you cut down on those small expenses that add up quickly.


Cooking at home rather than going out for dinner is another great way to save money. Budgeting for groceries and taking cash can help you spend less money when shopping. You are less likely to grab impulse buys such as chips and candy bars when you have a certain amount of cash and know you can’t exceed that limit. When you go shopping, make a list of the things you need to buy before you go and then stick to your list. This will also help you spend less money on groceries.

There are multiple things you can do to help save your budget from crumbling. Hopefully some of these tips will help you to realize some areas where you can make changes and better your financial situation. While you’re exploring ways to make smarter financial decisions, it’s always a good idea to look into renters insurance. Visit our Renters Insurance FAQ page to read more about why you need renters insurance. Check out our blog to read more tips and articles or visit our website for more information on places for rent in Branson Missouri.

Posted by: Thousand Hills Realty on November 5, 2015
Posted in: Uncategorized