Bad Habits Will Destroy Your Finances

[Suba]

Personal financial health will often be affected by a person's inherent bad habits. So no matter how high your income is every month, if you have one of the following bad habits then your finances will certainly always be hampered and maybe even lead to ruin> Let's discuss together the bad habits that we often have, such as:
1. Not having a financial plan, which often results in continuous purchases or impulsive buying.
2. Prioritizing personal hobbies, bad habits related to personal hobbies/habits such as gambling, drinking too little alcohol, smoking too much, liking nightlife which of course will cost you a lot of money.
3. Prestige
In general, this happens at the office, if a friend of ours buys new shoes or a bag from a well-known brand, we often don't want to miss out and force ourselves to buy it.
4. Hobby Shopping
Whether we realize it or not, we have become fond of online shopping, if we hold our cell phones, there are lots of discount offers that attract us to buy things even though we don't need them. In fact, having a shopping hobby, both offline and online, will cause addiction.
5. High Lifestyle Does Not Match Income
Being hedonistic or more concerned with momentary pleasures, such as always having dinner at a luxury restaurant, going to a nightclub, all items worn must be well-known and expensive brands.

 

[klassicdoll]

guilty of no. 4 .
This is very true for me, especially if I am bored. I just scroll through my online shopping app, and minutes later, I'm already on the check-out page.

 

[Starmix]

In addition to what you mentioned that destroys finances, always go outing with friends and pledging all expenses at your end, consistent spending of non-essential things and let them remain unused are like viruses that continuously suck your finances until you become broke.

 

[SHAHID987]

My close uncle (late) started a medical store he was about to get success but his son's bad habits of gather their friends and utilize income, finally destroyed their business.

 

[Suba]

In addition to what you mentioned that destroys finances, always go outing with friends and pledging all expenses at your end, consistent spending of non-essential things and let them remain unused are like viruses that continuously suck your finances until you become broke.

There are many bad habits that without us realizing it will destroy our financial health, and in general they do not have a definite and measurable financial plan. So we have to be alert and correct ourselves whether we have bad habits.

 

[Starmix]

There are many bad habits that without us realizing it will destroy our financial health, and in general they do not have a definite and measurable financial plan. So we have to be alert and correct ourselves whether we have bad habits.

Yeah, we need to correct our bad habits through siel- discipline and gradual change will be observed. Actually, if we are rich and have many businesses, we never care about what to spend and how much to send but if our money is limited we have to control ourselves.

 

[Kirubel]

There are a lots of bad habits that car influence my financial ability badly, and from my experience the things that are bad for my income and money are spending money on food when ever i crave something and that is bad, and also not having a financial plan and spending plan that is another bad thing that negatively influence my income and finance, and the other thing is feeling a shame when we go out with my friends if feel shame and pay for our dinner and for some things.

 

[Suba]

There are a lots of bad habits that car influence my financial ability badly, and from my experience the things that are bad for my income and money are spending money on food when ever i crave something and that is bad, and also not having a financial plan and spending plan that is another bad thing that negatively influence my income and finance, and the other thing is feeling a shame when we go out with my friends if feel shame and pay for our dinner and for some things.

Of course, if you often treat your friends to dinner, of course you will have financial difficulties, but sometimes we also need to treat old friends we have just met and we don't do this every month, I think it will be good for friendships.

 

[Kirubel]

Of course, if you often treat your friends to dinner, of course you will have financial difficulties, but sometimes we also need to treat old friends we have just met and we don't do this every month, I think it will be good for friendships.

True, those friends we get occasionally and those friends we meet in long time deserves some treat and that is a good thing, but spending money constantly when we go out with my friends is bit hard.

 

[Suba]

True, those friends we get occasionally and those friends we meet in long time deserves some treat and that is a good thing, but spending money constantly when we go out with my friends is bit hard.

Of course, spending money constantly when we go out with friends is a waste, because we are not walking ATMs, who have lots of money but we have to work hard to make money.

 

[riberet19]

Bad habits can be many, you can spend on vices, on things you don't need, on items that don't have much value and are to use and throw away, going out too much with friends, and others, it's better to live a little more austere and save money.

 

[Aragon05]

That's true, all this factors can destroy our finances. It's important to have a financial discipline on how we handle our finances to save it instead of destroying our financial status.

 

[Kirubel]

Of course, spending money constantly when we go out with friends is a waste, because we are not walking ATMs, who have lots of money but we have to work hard to make money.

You are right, we need to save our money and invest on some businesses in that way we can get good income and stable financial sources,

 

[eLdavis]

Bad habits like always eating out or going for parties and the likes would definitely have a negative effect on your finance and probably reck you if you are not careful.