Are you a millennial who often finds yourself dreaming of quitting your nine-to-five job, putting those student loans to rest, and proudly strutting down the street with a “debt-free” sign around your neck? Well, most of us are in that same boat. Just read this Article and you’ll soon realize it. But unfortunately daydreaming isn’t going to get you very far if every morning carries with it an alarming set of financial habits that seem innocent enough but could potentially be having harsh negative effects on your future money management. That’s why today we’re talking about everyday habits that will actually kill your future finance – so read up, my friends, and get ready to start making more informed decisions when it comes to how you use (and save!) the money you work so hard for.
“Grocery Shopping for Two”
First, let’s talk about the sneaky danger of buying in bulk. This is easily the most common money-related mistake that people make, and it’s one that can quickly add up with time. Going grocery shopping for two or more people means buying double (or triple!) the amount of food you’d buy if you were just shopping for yourself. The problem with this habit is that it often leads to food waste – and while you may think you’re getting a great deal, it’s actually costing you a lot of money in the long run.
“The Price Tag of Tiny Luxuries”
As millennials and Gen Zers, it feels like every day is a constant battle with our emotions. This often leads to an urge to treat ourselves every single day with tiny luxuries that cost a lot more than we expected them to. This can be anything from grabbing an extra coffee in the morning, stopping by your favorite boutique for a new outfit, or ordering takeout instead of cooking dinner. It’s easy to get carried away with these small indulgences, but it should also be noted that all those little expenses can definitely add up with time.
“A Night Out Here, There, and Everywhere”
Eating out for every meal just isn’t worth it. Let me elaborate. Spending nights out with friends is always a great way to let off steam, but it can be detrimental to your finances if you’re not careful. Eating and drinking out every night of the week is definitely one of those everyday habits that will actually kill your future finance – so try to stick to cooking at home and going out just once or twice a month.
“The One-Click Buy Syndrome”
Oh, you may think that you love eating your own meal at home and making your own coffee each morning, but just be honest – you still go online and shop, don’t you? If so, then you’re not alone. We all have a tendency to click the “buy now” button without really thinking about how much we’re spending. But here’s a friendly reminder that those one-click purchases can definitely add up with time. Limiting yourself and ensuring that you’re only buying what you truly need (and can afford) can really help.
Guys, there are years ahead of you – and it’s time to start safeguarding your future finance by breaking these bad habits. Don’t let them get you down – instead, make it a point to start tracking every single financial move you make so you can identify any areas where you might need some improvement. Trust me, being mindful of how and when you spend money will pay off in the long run.