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4 bad money habits to avoid and how to break them

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4 bad money habits to avoid and how to break them

4 bad money habits to avoid and how to break them

When you’re a student there’s one relationship that you constantly wish could be better. And that’s your relationship with money.

You plan and plan and things add up perfectly in your head, but at the end of the day things don’t end up the way that you expected them to.

It’s because most of us have unhealthy money habits like these ones.

1. You don’t know where your money goes

If you’re trying to get your money situation together, the worst thing you could do is be oblivious to how you’re losing money. If you don’t even know where the money is passing, how are you going to get things together? One thing you can do to fix this is to get an app that tracks your spending. Dollar Bird for Android and iOS is amazing for this. You’ll get daily reminders to enter your spending, and you can check the app at any time to get an overview of how you’re leaking money.

2. You’re just flat out lazy

It does take some work to get control of your finances. You need to draw a budget, track your expenses, and put some effort into creating better spending habits. Procrastinating when it comes to taking control of your personal finances is one way to fast-track you going broke. Luckily, if you’re new to personal finance management, there’s an easy-to-use app that’ll help you get started. Budget App by Free Apps Group is incredibly easy to use and it helps give you an idea of where your money is going before you even get it.

3. You don’t pay yourself first

Even in school, most of us have things that our allowance is going to as soon as we get it. However, before paying off the people you owe or buying the things you’ve been waiting for your allowance to get, you need to pay yourself. Set aside an amount that you’ll pay to yourself every time your money drops. Create a separate inaccessible account if you need to.

4. You’re trying to get rich quick

Just because you’ve seen some people get rich quickly through Betway or Supabet doesn’t mean things will go your way if you try. These get-rich-quick schemes (the betting and even the ‘shopping’ moves) usually carry high risk and the chances that things won’t work out your way is pretty high. These days it’s quite simple to start a legit business on social media. Try and market the skills that you have instead.

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