Everyone has them. Bad habits are just there. You likely know you shouldn’t do it, but you do it anyways. Now when it comes to money that gets a bit more interesting, since some habits are really not a good idea (like paying high fees for no reason, or putting all your pension money into the stock of the company you work for).
I’ve worked hard to overcome a lot of my bad habits, but still some remain. They are:
- Quote Checking. I’m a horrible stock quote/pension plan value checker. I tend to look at least once a day despite the fact I know it’s pointless and it won’t change anything. It’s really a waste of time, but I still do it to see the trend.
- Fixating on Stupid Purchases. After spending several years cleaning up my spending habits I have unfortunately gotten into the habit of questioning every purchase I make. Do I need this? What am getting from this purchase? Instead of just letting it go and accepting it’s ok to make a impulse purchase once in a while. I need to ease off a bit more about where my spending cash goes.
- Not Filing or Throwing Out Paperwork. I must not have got much mail as a kid or something, because I tend to keep far too much paperwork. Which would not be so bad except for the fact that I’m bad at remembering to file it all. I’m currently looking at a pile about two inches thick right now.
- Playing with Online Calculators. I’m horrible for running slight modifications to my current plan when I know the answer will be about the same. When will I pay off my mortgage? About 3 to 4 years, so knowing it’s going to happen three months earlier or later is rather pointless but I would still do a run on a calculator when I get some new information.
So that’s my current list of bad money habits? So do you share any of them or what’s your worst habit?