Money Matters: Bad Money Habits

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January 23, 2013

Today in Money Matters, the new year is well underway so it's time to kick some bad money habits.

1. Items That Can Damage Your Wallet And Waist
We're talking about booze, cigarettes and fast food. If you're a pack-a-day, smoker you'll save almost $240 over 40 days. Quit eating out for 40 days and save about $272 based on statistics.

2. Bad Credit Card And Credit Report Behavior
The average household credit card debt is $4,996. With an 18.9% Interest rate, it would take you 11 years to pay that off making minimum payments. Put the credit card away and pay off the old debt.

3. Ignoring Your Savings
About 28% of Americans don't have any money tucked away for an emergency. Find a way to trip your budget and set aside some money each month.

4. Bad Bank Behavior
Stay away from those ATM fees and overdraft charges. Track your bank charges for 40 days and see what you spend and what you can save.

For a complete list of suggestions, you can find the full article at Bankrate.com here.


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