8 Money Habits That Are Holding You Back

habits holding you backWe know you're doing your best with your money.

Sometimes, however, even the best intentions can lead us astray. With every cocktail you order at the bar, and every minute that you spend browsing the web on your mobile phone, you put your finances at risk.

Don't believe us? We've got proof.

These eight seemingly innocent daily moves could be jeopardizing your financial health. Are you guilty of these habits?

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  • nina

    “That figure comes directly from U.S. Census statistics, and since each move is often prompted by a life change”…

    These people have a new baby, get married or divorced every single year? No. Think outside the box (so to speak), too: Moving expenses can also include security deposits, paying for a moving service, move-in fees, etc. My move from one apartment to another cost nearly $2,000, and that was before I had to buy new rugs to protect the floors — $1,200 security deposit and $500 for movers.

    • ksgirl73

      That’s a really good point. I think people often think moving to somewhere where the monthly rent is lower will save them money, but they end up blowing it in moving costs.

  • monkeypants

    I already know I do some of these things, the nice thing about the article, I don’t feel like such a jerk for doing them, I need to work on it but it’s nice to know I’m not the only one doing these things. Makes me feel like less of a financial dork.

  • Leo

    Weird – I think that multiple bank accounts saves me money (most of them are savings/retirement) – once they are in those I no longer think of them as accessible, and I’ve saved quite a bit as a result.

    • nina

      Yes, me too! The “pay yourself first” concept. That money goes over there and then I never think about spending it.

    • rikabear

      I agree! I have saved more with multiple accounts than I did with one account. I have one online account for long-term/big goal savings, a checking account to pay for my bills, another checking account that I put my “allowance” into and that one also has a short-term/vacation savings attached to it. It seems like a lot but I walk with one debit card for my allowance and that’s it. No need to worry about spending cash vs. card, etc. 

  • http://www.mythinkingbox.com/ Terry Hadaway

    Excellent ideas. Using cash, building an emergency fund, and living within your means are counter-cultural. However, normal in America is living paycheck to paycheck and putting no money in savings. They are one unexpected expense away from financial disaster. Therefore, being normal doesn’t look like a plan. I’ll stick with being weird.