Let’s see what I do from 10 nasty money habits to kick:
- Spending without a budget.
Yup, I do this. I used to use Microsoft Money, but I’ve gotten lazy and don’t track my spending anymore.
- Carrying a balance on credit cards.
I don’t do this.
- Ignoring interest rates.
I don’t do that. It’s why I never have an outstanding credit card balance, the greedy cocksuckers.
- Not investigating disability insurance.
I have that from work, but I don’t remember its details.
- Failing to see how little purchases add up.
I do see that impact, I just do little about it and that’s when the last item in the list comes in.
- Not matching employer’s contribution to retirement.
I don’t do that, meaning I DO match my employer’s contribution.
- Waiting until the last minute to fund IRA.
I don’t know what that is: it’s an American thing. I assume it’s something like our , which I do invest in.
- Paying everyone else, saving “what’s left.”
I don’t do that, most of the time. I have automatic withdrawals every month to savings and investment accounts. I probably don’t put in the recommended 5% to 10% of your income, but at least it’s something.
- Not managing your investments.
Hmmmm, what do they mean by “manage”? I keep my annual statements about RRSPs and such. Does that count? I’ll say No to that.
- Getting emotional about your investments.
I do this when I live paycheck-to-paycheck, which is occurring more often lately. Plus working in the IT industry isn’t the most stable career, although I could probably find work easily.
Score: 4/10 things I do wrong, according to that list. Not bad.