How to bust 12 bad money habits

Eliminate one of these each month, and in a year you'll be free of a dozen bad money habits.

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VIDEO ON MSN MONEY

53Comments
Mar 5, 2014 1:45PM
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Here's my favorite one --

"If a person with 37 years to go until retirement increases her savings contribution by just an extra $50 each month, she could ultimately save another $105,000 (assuming a 7 percent annual growth rate) by the time she retires."

 

Who the heck is getting 7% on their savings??

Mar 5, 2014 2:07PM
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1 - Stop spending at will.

2 - use a shopping list.

3 - don't buy on impulse.

4 - don't charge every day items, i.e. clothes, sundries, etc.

5 - curb partying (movies, eating out)

the rest ??? COMMON SENSE!!!!

Mar 5, 2014 10:57AM
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I don't think every American violates all of these habits all of the time, but I think credit card debt is the worst.  Actually, what the article is trying to tell everyone is to get your spending in line on everything you purchase.  In other words, think before you buy.  Do you really need that?    The biggest flop is not saving your money for retirement.  That one mistake will eventually jump up and bite you hard one day unless you plan to work forever....
Mar 5, 2014 1:37PM
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They forgot bad money habit #13:  VOTING DEMOCRAT

Mar 5, 2014 1:18PM
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How about buying a used vehicle instead of a brand new one, so as to save on depreciation?
Mar 5, 2014 2:08PM
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My guilty pleasure, eating out. I love the feel of a smokey bar, a tasty drink, and a good ole fashion plate of grub.
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"How to bust 12 bad money habits"

Grow a spine, live like there will ever be a reason to honestly have any personal pride, stop expecting that there is a nation of faceless, high income citizens out there just poised waiting to take the place of your mommy and daddy by financially saving you from your life of retarded decisions!


Mar 8, 2014 10:09AM
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msn, please explain how this applies to bottom feeders on the system dole.
Mar 5, 2014 4:37PM
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BTW they bust drug traffickers and speeders.  You BREAK bad habits.  Will some one please at least check these "articles" before they are posted?  I sadly use improper English at times but I am not writing the headlines here...   Hate the grammar police but still you need to do a better job, a proper example is important!
Mar 5, 2014 6:51PM
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The more things that you own.......the more of these "things" will soon own you.
Mar 6, 2014 11:01PM
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1) Nobody will ever get 7% return on savings. So, that's the first error.
2) Everybody should cut eating out costs as much as possible.  Try to eat on less than $2 per day. It's very much possible if you do smart shopping at the grocery store (or online for non-perishables).
3) Cut back on transit costs. Drive a cheap car (or better yet, none at all). Use 4AutoInsuranceQuote for insurance ($25/month). Use GasBuddy for gas (save $100/month).
4) If your rent is too high, move.  Don't buy unless you can afford.
5) Pay off all your debts. If you use a credit card, pay it off in full every month.
Mar 8, 2014 1:18PM
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12 bad Americans who vote for theft by tax. 12 bad politicians who cant tax enough to reward corrupted voters. Result ? Overwhelming debt. Democrat platform? Lie to the morons anything for power when reality hits just act stupid and walk away with your bounty.
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Paying into the IRS.. Your hard earned money is spent foolishly on baby killing, dumbing your kids into dependency, grants to study the sexual activity of fish (and homosexuals) $300 dollar hammers to the military etc etc etc! Join the 99%, they don't pay no stinking tax's
May 26, 2014 2:32PM
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Bottom line you never have enough money,or else you are a million air.So do the best you can and try to enjoy your gift.Happy day
May 26, 2014 3:57PM
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Dining out isn't a bad thing really. I've found that the meals I eat out could not be prepared at home @  dine out cost when the total cost of the groceries and electricity is counted. It's even more true in the summertime as ovens heat up your home pushing the A/C. It's really just about balance I think, and it doesn't hurt to cut the tab a bit by ordering water instead of other beverages. Locally that chops about 4.50 off a ticket for two. 
May 26, 2014 1:58PM
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Very few companies match 401(k) contributions any more, (in whole or in part). Of those that still do, most give the match in COMPANY STOCK that can't be converted into or traded for anything else (say, an index fund) and stays locked in until you actually start withdrawing.
May 27, 2014 2:16AM
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Please tell me something new, this is old stuff, how about just plain stop spending money you don't have. There that's a tough one to get. CORAVETTE


Mar 8, 2014 10:55AM
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Three years and a generation - the time that it will take for the economy to correct itself in Obamaville.
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You first need money in order to have a "bad money habit", just like you first need money in order to save it.  Believe me, if people had money they would pay their bills, it's not a matter of people being lazy, it's about not being compensated enough!

 

 

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