7 Habits That Keep You From Saving

Household debt in the form of home, auto, student, and credit loans has risen to more than $13 trillion in the United States. One of the worst money habits you can establish is using one type of debt to pay off another.

Using Debt To Repay Debt

If money is tight, it may be tempting to pay the lowest amount on your credit card, but this bad money habit will cost you a fortune in interest over time.

Paying The Minimum Balance

What is the difference between $2.50 here and $2.50 there? Wrong. It may be more convenient to use ATMs outside of your bank's network, but if you do so twice a week, you'll waste $250 per year.

Using ATMs Outside The Network

Be cautious when signing up for monthly subscriptions and memberships. They may not be expensive at first, but they accumulate with time and frequently go unused.

Paying For Unused Services

It's easy to forget to pay your credit card account on time, but doing so will cost you money. First, you'll be charged a late fee, which typically ranges from $25 to $38.

Payment Of Late Fees

Save now to spend later. This is one poor financial behavior you should break. Purchasing inexpensive throwaway products will almost certainly cost you more in the long term because they must be replaced on a regular basis.

Purchasing Cheap Things

If you think bottled water is preferable to tap water, think again. In any case, an estimated 25 to 40% of bottled water comes from the tap, so you're paying more for nothing.

Purchasing Bottled Water

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