Habits are pretty hard to break, especially bad ones that we know aren’t good for us, like drinking soda or impulse buys, but the rush of serotonin we get from those habits can make it hard to quit. Your habits, especially when associated with money, can shape your financial future. Do you want to know the secret to building wealth? It starts by cutting these money-sucking habits!

Money-Sucking Habits to Break Today!

Before you read this post, read this one! Twenty things frugal people do every day.

 

Those early morning (or late afternoon) coffee runs

Whether you get a black coffee over ice or a caramel macchiato, that coffee habit could be costing you thousands of dollars every year, depending on how frequently you make coffee runs. Instead, invest in good quality coffee and a good coffee maker {this is my go-to}, and you won’t even miss your daily Starbucks run. Plus, you can have those delicious beverages without waiting in line.

Want to know more secret must-haves of a frugal home? Check out this post!

Buying lottery tickets or spending money on sweepstakes

It’s everyone’s dream to win the lottery or finally win that trip that’s on the back of those huge fountain drinks at the fast-food restaurants, but the reality is that the chances of winning are beyond slim. Those dollars here and there start to add up, and those dollars could be better spent investing in your savings account.

 

Always get the latest and greatest electronics

Buying a new phone nowadays could cost you thousands of dollars. However, choosing an earlier model or two will still serve you well but at a fraction of the cost! New technology is always coming out, and trying to keep up with the latest computer or cell phone whenever something new comes out can keep you from building long-term wealth.

 

Not writing a to-do list before you go shopping

You might be thinking to yourself that you have a good handle on what you need and you know what meals your family likes. For most people, it’s not the not knowing what to buy part that trips people up. It’s the impulse purchases while you’re in the store or having to go through multiple aisles unnecessarily that can end up increasing what should have been a quick in and out grocery trip.

Check out these meal-planning mistakes that are costing you money!

 

Empty calorie drinks

Many drinks such as soda or even juices provide little to no actual nutritional benefit for us. While I agree that these are a delicious indulgence, making them a part of your regular spending can start to add up. Buying a 2 liter, a few packs of Gatorade, and then you have to have your coffee, and when you go to check out, you’re shocked to find that this little purchase ate away half your grocery budget for the week! Drinks add up so quickly both at the grocery store and when you go out to eat.

 

Don't get discouraged! How to live cheap without feeling cheap!

Hopefully, if you have any of these habits, this post reminded you that it might be time to rethink those habits. While these can be okay in moderation or even okay if you have a lot of excess in your budget, these are still money-sucking habits that don’t have a positive or helpful outcome.

 

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