4 Awesome Tips for Quitting Bad Money Habits

Last Updated April 30th 2019
Get this course now
Simply fill in
the form bellow

Bad money habits are some of the easiest to fall into and can mean that you're struggling to make ends meet. We've come up with some tips that you might find useful when managing your income and decide to invest in online trading.

4 Awesome Tips for quitting bad money habits

  • Keep a record of your spending

One of the easiest bad money habits to fall into is not keeping a record of your spending. With contactless payment, online shopping and multiple accounts, you can end up spending money before it's even entered your account. The best way to quit this is to keep track of how you're spending. Try downloading your bank's app so you can check your statements whenever, making a note every time you fill up your car with gas or notice when your monthly subscriptions are coming out of your account. By keeping a record of your spending you can find out where you can save and what you can change.

Don't miss: Why Is Investing So Much Better than Saving?

  • Don't buy things you can't afford

With easy credit available on everything from sofas to mobile phones, it can be easy to say yes to expensive things knowing you can pay it off over time. However, with interest, penalties for repayments and the tough financial environment, it's unwise to take out plans on things you can't afford unless it's really necessary.

See also: How Can You Start Investing With No Money?

  • Shop around

The internet is an amazing tool for saving money. Instead of just buying whatever you're used to, do a little research. Maybe your grocery shop could be done way cheaper elsewhere, or maybe you can find some coupons or discount codes. If you're making a big purchase, like a car or a TV, make sure you look around through a range of sites and get the very best price you can.

Next up: 7 Stocks that Could Make You Millions in 2018

  • Use cash

If you've found you're spending way more on your card than you think you are, try using cash. If you're going on a night out or meeting friends, take the amount you're comfortable spending out in cash and leave your card at home. If you really want to test yourself, take out enough cash for a week and try not using your card at all - seeing a few coins left in your wallet is a lot more vivid than just tapping your card.

At Trading Education we want to help and guide you so that you can be able to make the most of your money. A great way to do that can be to make sure you're not falling into bad money habits. Money saved can become money to invest.

See also: 7 Secrets to Becoming Wealthy Before the Age of 30

If you enjoyed reading this article from Trading Education, please give it a like and share it with anyone else you think it may be of interest too.

We'd love to hear from you!

Please share your comments or any suggestions on this article below

more from Forex Trading Articles...

Trading-Education Staff
Forex trading for beginners covers an immensely wide range of topics. Sometimes it can be hard to even know where to start. Learning to trade forex...
Trading-Education Staff
Forex entry and exit strategy requires a confident and well-thought-out plan. It requires traders to know at what point would be best to enter the...
Trading-Education Staff
In the past few years, the foreign exchange market, also known as forex, has turned into one of the most appealing and exciting markets in the...
Trading-Education Staff
Forex economic calendars serve a number of uses and their importance shouldn’t be underestimated. They’re a must-have tool and should be...
Trading-Education Staff
The foreign exchange market (also known as forex) is the world’s most liquid financial market with over 5 trillion USD global trading per day....
Trading-Education Staff
To put it simply, the basis of making money trading forex sounds relatively easy: when the price is low, buy; when the price is high, sell. However,...