How to fix 6 bad money habits in 8 weeks?

Maria
4 min readFeb 15, 2023

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I am sure that not all you currently do with your money is bad. However, look at your daily spending habits and evaluate whether you are really moving somewhere in your life with your finances.

Are you building financial abundance?

Or just getting by month by month?

What are 6 Bad Money Habits to Break in 8 weeks?

It may be difficult to admit it, but you need to stop standing in your own way toward financial success and freedom.

Bad money habits keep you stuck in your financial life and so you want to see the way out. The first step is to accept that you have these habits and then there is a way how to fix them.

This acceptance will take away much weight from your shoulders.

Here is the list of 6 bad money habits which you need to get rid of immediately starting with small steps already today. Don’t keep it for tomorrow. Start today.

1. Biting off more than you can chew

Do you know how much you earn every month? So why do you spend more than you earn? Spending more than you earn is one of the most damaging financial habits you can easily fix with having your budget. Getting debt and massive credit card bills becomes a routine for many people until they see the huge debt. In such situations, planning your spending well with a monthly budget is key.

Live below your means and you always have extra money. Set up your monthly budget. And FOLLOW IT!

2. Paying Yourself Last

When you get your monthly paycheck, first what do you do? You pay bills and living expenses. That’s great. Then you go out with friends, buy yourself something nice to wear, and only then if something is left, you will think about saving. With this way of budgeting tactic, there is never much or nothing at all left at the end of the month.

3. Keeping up with Friends with Expensive taste

Do you have friends who always want to go out and spend money all the time? You are catching up, even perhaps using credit cards to be cool. It is not cool to go broke, just to impress someone else. Keep up with your lifestyle, and what you can afford while you work towards a financially better lifestyle.

4. Not Keeping Money for the Future

Don’t make the mistake of underestimating your intelligence to plan a correct investment. Keeping money for your future in the form of a savings account, pension contribution and investment will pay in the future well. Start small putting 20% of your salary income apart and gradually increasing your financial security.

5. Having disorganized finance

Our financial habits make or break us. Organize your finance with one piece of paper. It is called your BUDGET. Get rid of your old habits to spend your entire salary on regular expenses and paying bills. Generate automated payments for your bills and savings from your bank account.

6. Living paycheck to paycheck

Since we don’t learn much about money management in school, most people think about ”the earn and spend” money principle. This will only take to live paycheck to paycheck. The sooner you spend less on buying things only, the sooner you have saved money. Save from your salary to get mental peace and a wealthy bank balance.

Fix these in 8 weeks

The deadline of 7 weeks is here for you to stop finding excuses and start doing.

  1. Step: Choose your first 3 habits that you are going to fix and for 1 month (4 weeks) focus on those.
  2. Step: Add another 3 bad habits and fix them as suggested above while keeping the prior habits on watch.

Like this, you will not try to do it all at once so you won’t get overwhelmed. Yet, you have a shorter timeframe so you will not procrastinate. Middle golden way.

This will work even better if you already fixed some of the above-mentioned 6 bad habits. Then you have less work to do in the coming 8 weeks.

Let us know how you doing with this 2 steps easy to implement strategy.

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See also now: Planners for life and finance

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Which of the above bad habits are you going to fix today?

Disclaimer: This article contains affiliate links and if these are used to purchase mentioned products, I will earn a commission.

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Maria
Maria

Written by Maria

Nice to meet you. Personal finance related to the world of corporate structures, financial statements, private budgeting. Success is created.

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