5 Things Bad Money Habits Reveal About Your Life
The world revolves around money. As the saying goes, it can be the root of all evil. But the reality is that you need money to live in the world. Have you ever wondered what your money habits say about you?
Your relationship with money is everything because it can make or break you. Many people live out of necessity rather than because they have to, so they choose to live frugally. Most likely, these people have come across financial means that lead them to adopt this lifestyle.
Other people spend every penny and can’t wait until the next paycheck. These guys have no problems getting cash advances to get them through. In most cases, these people are spendthrifts who live for the moment and spend money without thinking about tomorrow.
Everything can fall apart if their car breaks down or the electrical legislation exceeds the budget. There will be peaks and valleys when it comes to money. But financial rivers teach you the most important lessons.
Saving for a rainy day is foreign to many teenagers and young adults. But fast-forward a few years, and many people in their forties and fifties have a penchant for money and a strong command. You learn as you grow, and maturity and wisdom apply to your finances and other areas of life.
Like a job loss, you learn that saving money is a must when things get out of your control. Just because something is right doesn’t make it available. Many people struggle with budgeting and maintaining a good savings plan.
Your money habits reveal what your life is all about
People who lived through the Great Depression often learned to live on less. Most of these people would pack whatever they knew was needed to survive. According to an article from “American History,” the world’s financial chaos has changed how people view money.
The unemployment rate was over 15%, and food rationing was even higher. They would make things like depression bread and water pies to feed their families. You cannot go through such a storm and come out unscathed on the other side.
Now, you’ve never been through anything as terrible as the Great Depression, but you’ve been through pandemics and other setbacks in your personal life. Your money habits say a lot about you as a person. Like those who lived through extreme poverty in the 1920s and 1930s, there are things you can observe with your money habits.
Bad Money Habit #1 – You’re an Emotional Spender
If you’re low on savings and underpaid and living paycheck-to-paycheck, it could be because you’re an emotional spender. These people shop when emotionally drained and think buying something will help ease the pain. They pay off credit card debt and make elaborate purchases that they don’t need to feel good about themselves.
It spends to cope with their anxiety or sadness. It is a dangerous habit because it is as addictive as any street drug. Debt can bankrupt you; you can be bankrupt.
This individual has not learned the responsibility of money. They make frivolous purchases and decisions today that affect their tomorrow. Although you won’t find it in DSM-5, it’s always been a significant condition. According to Psych Guides, many people get addicted to how they feel when shopping.
This is the height that can limit the need for coercion. These people spend more money than they have, buying things they don’t need. They are always looking for something big. This is similar to a netting disorder and is an anxiety-based condition.
Bad Money Habit #2 – Fear Controls You
Afraid to spend on a pole? Are you hoarding your money and always waiting for the sky to fall around you? Perhaps you, like the residents of the Great Depression, have experienced a significant financial crisis in your life.
Because you fear losing your security, your funds are the highest priority. If someone asks you about your financial situation, you’ll probably tell them you’re broke, although this is not true. You could have $50,000 in the bank and still consider that quite a bit.
This does not mean you are dishonest, but you do not consider it a sufficient means to protect yourself. This person might be a good fit for a show like TLC’s Extreme Cheapskates. They rewash the bags and do other radical behavior to spend the dime.
Bad Money Habit #3 – You Are Jealous
A jealous person thinks it is necessary to keep up with wealthy people. Regardless of money, your habit of making money shows that you are working. You will often overspend, making it seem like you have more money.
It’s all about getting into show business and staying on your feet. But the problem is that there is never a point when you arrive. You may forever pursue an expensive job and destroy your finances.
But most people wake up and realize this is a stupid way of life. So you should learn to be happy with what you have and live with gratitude.
Bad Money Habit #4 – You Believe in Rewarding Yourself
Some people thrive on bathing themselves. If you can afford it, that’s fine. Perhaps your money habits indicate that you are someone who always needs to be rewarded. Maybe you feel like the coffee from home isn’t as good as the local donut shop, so you stop there every day for a $6 latte.
You like big vacations, fancy cars, and clothes that look like a million dollars. If you look at your money habits, you will see a person who lives to please you. This does not mean that you are not financially responsible. But it shows that you like spending money to feel good about yourself.
Alarming Money Habit #5 – Lack of Mental Maturity
Maybe you think it’s strange to talk about money and spiritual maturity on the same topic. So why do people make all these grand plans and do things without consulting the Universe first? You make these choices. Then you get yourself into trouble. In the first place, as you know better, you doubt to pray for help.
Every person has a plan for their life. This is due to God’s intention. Although you don’t need to pray about every little purchase you make, you should ask the heavens for help with essential purchases. Your spirit guides should discuss things like buying a house, a car, and other material things.
The Universe has a plan for your life, but you often get antsy and want to fix it or take matters into your own hands. You are impatient and do not believe everything is working in your favor. When you are spiritually mature, you learn to pray, and before you open or close the door, you know to pray.
If the door closes, you should not try to open it again, as disaster awaits on the other side. Most likely, a person who is very wise with his investments has learned to get God’s help in his way.
Stop Wasting Your Money By Breaking These Five Bad Money Habits
Are you ready to make some changes to your spending? Most people have a budget, but you still make money every day. This money can go into a savings account.
1. Bottled Water (Also bad for the environment!)
Why pay more than $1.00 a bottle when you can filter water at home? You can save a lot by avoiding prepackaged water. Not only will you save a little money, but you’ll be a more responsible steward of the earth.
2. Gourmet Coffee
Coffee houses have special conditions for creating trick drinks, and they overuse them. Why not invest in a coffee pot and make your java at home?
3. ATM Amounts
Using ATMs that are not in your bank’s network can be expensive. You will receive a fee from the hardware and possibly an additional payment from your bank. Why not prepare for the week and not have the money you need?
4. Eating out
Sometimes the food is excellent but expensive. Your money will increase when you eat at home. Plus, it’s much healthier.
5. Books and newspapers
Few people will read a book or newspaper more than once. Now that everything is on the Internet, you can save a lot by reading them on your smartphone.
Final thoughts on money habits and how they affect your life
Your money habits require responsibility and diligence in maintaining savings. Many people can’t keep their finances in order, so they seek the help of an advisor.
If you have a co-worker with more money sense than you, it may be a good idea to let them handle everything.
Sit hand in hand with your expenses from the last three months. What patterns do you see, and what can you change for the better? Overlooking your finances can be an eye-opening experience that helps set you on the right path.