One good thing about the recession has been to force Americans to take a closer look at their spending habits. It was actually a little shocking to find out how so many people were in serious credit card debt, with seemingly no way out.
We’ve rounded up some bad spending habits that almost everyone is guilty of, and suggestions on how to curb them. Read on and see if you are guilty of any of these bad habits, then learn a better habit to replace it!
1. Going out to the mall because you’re bored– It may not be the mall, it can be a restaurant, bar, or even your favorite online store. Many Americans, in an effort to look for a distraction, end up spending. The mall seems to be a worthy distraction because it’s near, and filled with many things that can tickle your fancy. The result is you come home with things you don’t need, and a hefty credit card bill to match. Break this habit by discovering other habits. When you feel bored, look for other things at home to distract you. Why not read a book, go out for a walk, or even catch up with a friend whom you haven’t talked to in a while? Your wallet will certainly thank you for it, and you’ll feel more fulfilled than just spending out of habit!
2. Grocery shopping without a list– Going to pick up groceries can already seem like a chore, so many people (especially busy moms) like to just go and be done with it. What’s worse is when kids come along, they just grab items and drop them into your shopping cart. Avoid the “checkout line surprise” by arriving prepared. Shop with a list, and make this list with your kids, so they can request things they would like to pick up before you get to the store. When you stick to your budget, you won’t end up overspending, but you’ll still get the things that you need!
3. Getting multiple credit cards– These days, credit card offers can come in left and right, and it seems like “free money” – until the bill comes. Credit card debt is no joke, and can take years to pay off! To curb your credit card spending, try to keep only one card (cut up the rest), and only whip it out in the event of an emergency!