Sunday, October 2, 2022

4 bad spending habits you should break today

Imagine a reality where you can afford to move into the home of your dreams, send your kids to college without debt, and give so generously that it will transform your community. If only… well?


With a few changes in your spending habits, you can really turn your financial dreams into reality.

How bad spending habits ruin your life

Culture encourages bad money habits all the time through things like impulse buying, convenience buying and retail therapy. But I don’t want you to spend your life like a mouse chasing a wheel that is never going to complete you. You have to stop these four bad spending habits—and I’ll show you how.

Bad Money Habit No. 1: Spending on Impulse

is impulse buy kind of fun-At least in the moment. You go to the store for milk, and before you know it, you’ve bought three bags of marked holiday candy. Oops!

This is normal. Americans spend $183 on impulse every month. Why do we get better at those impulsive purchases? Personally speaking, it’s hard to say no when we think we’re getting a deal. I love good sales as much as anyone.

The good news is that there are several ways to overcome impulse spending—like waiting 24 hours before clicking the checkout button. But the most important way is to learn to say no to yourself.

Bad Money Habit No. 2: Spending Without Tracking

It will be really hard to be successful in managing your money if you don’t track your purchases. Listen, if you make a plan for your money — aka a budget — but you don’t actually keep to it, your budget won’t work.

And while I’m here let me bust another myth: The budget doesn’t tell you what you are can not do do—they show you what you are can do Doing. I want to say that the budget allows you to spend! And when you track your purchases on a budget, you’ll see where your money is going each month. You might be surprised at how much you’re spending on pizza—and that leads us to the next bad money habit we have to conquer.

Bad Money Habit No. 3: Spending on Convenience

Delivery apps, valet parking, and drive-thru—we’ve all spent money on these features. With apps, it’s so easy to have dinner delivered right from your phone. But paying for these features can really add up.

Thankfully, there’s a simple cure to convenience spending: planning ahead. My husband, Winston, and I plan and prepare our weekly meals on Sundays so that when it’s time for dinner, we don’t feel the need to grab takeout at the last minute.

Figure out where you spend on convenience, and try to plan ahead instead. You’ll see significant savings—I promise!

Bad Money Habit No. 4: Spending to Feel Better

Self-care is important, but I want to be clear: Retail therapy is not self-care.

Retail therapy is spending to feel better, and science has proven our addiction to the chemical high that comes from shopping. So yes, shopping can make you feel better temporarily. But when the Amazon-inspired pleasure wears away, you’re left with a guilty shopping hangover. You can kick this habit if you stop comparing (I’m looking at you, social media!) and shop when your emotions are high.

You can do it, you guys! With a little sacrifice and a little self-restraint, that dream home won’t seem so far away, college tuition will seem more like an eagle and less like a mountain, and generosity will become second nature.


Rachel Cruz is the host of The Rachel Cruz Show and The Rachel Cruz Show podcasts, and the author of best-selling titles including “Love Your Life, Not There” and “Smart Money Smart Kids,” which she co-wrote with her father. Dave Ramsey. Follow Cruise on and on Twitter @RachelCruze.


This News Originally From – The Epoch Times

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