Bad Money Habits

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 RRSPs in Canada, 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.

(via Lifehacker)

3 Replies to “Bad Money Habits”

  1. jesus i do nine out of ten..i dont get emotionally involved with my investments cause i do not have any….man if the wife or should i say when the wife leaves me i will be doomed….hey…speaking of investments….i was offered dibs on a 74 beemer with a sidecar today from one of the vendors….another vendor is going to loan me the money…and then the board of directors who are vendors will vote me my honorauim in two weeks which should cover the loan….i love my job…and what the hell are “savings”…is that like the money you put aside for motorcyle stuff….

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