Habits That Threaten Your Financial Security

Spending Habits that Threaten Your Financial Security
Spending Habits that Threaten Your Financial Security

(FinancialHealth.net) – We’ve all done it; you hit up the mall and suddenly your trip for toilet paper turns into a $100 shopping spree. It’s all too easy to get caught up in bad spending habits. We want the latest smartphone, the best toys, the newest car, and even the best food, but all of that spending can sneak up on you and eventually cause serious financial ruin.

The best way to prevent this from happening in the first place is to nip spending habits that threaten your financial security in the bud before they become a problem.

Dining Out

Easily one of America’s most common habits, eating dinner out can become extremely expensive. It is undoubtedly more convenient, but consider that even just one lunch a day at a nearby restaurant is likely to cost between $5 and $10 per day at minimum. That’s up to $70 per week, $280 per month, and a staggering $3,360 per calendar year.

Skip the eating out and pack your own healthy lunch instead. Not only will you feel better, be more motivated to work and make money, but you’ll cut back on costs, too.

Shifting Credit

Thousands of Americans live in debt every single year, shifting money from credit card to credit card to avoid late fees and interest rates. This is a temporary measure at best. You could suddenly find yourself in a financial crisis if your ability to make monthly payments suddenly evaporated. Instead of racking up interest on one card, you’re racking it up on several, and that can become very pricey after just a few months.

If you find the need to shift credit card debt around from card-to-card, you already have a problem. Try consolidating your debts into a single monthly payment and work on paying it down. It’s okay to leave the others open; the length of time open factors into your credit health. Just be wary of running them up all over again.


Whether you’re 20 or 50, you should be contributing in some way to your retirement right now. If not, you’re significantly hampering your ability to live a free and relaxing life down the road. There are many ways to save for retirement, each of which may or may not be suitable for your situation – what matters most is that you save. Choose a retirement savings plan or just stash a bit of money in a safety deposit box at your local bank each payday.

Even if it may seem unimportant now, you’ll thank yourself when you’re in your golden years.

~Here’s to Your Financial Health!

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