HONOLULU (HawaiiNewsNow) - Today we’re going to talk about how to break bad money habits. To help us kick some of these bad habits is Adam Morris from Bank of Hawaii.
Probably the worst bad money habit is spending more than you can afford using credit cards.
Once you get into high interest credit card debt, it can be incredibly hard to get out of it.
There are some simple tricks to get it lowered though.
First, take those credit cards out of your wallet and commit to paying down the debt, even if it takes years.
Change your spending habits by cutting back, eating in, and maybe even get a roommate. Whatever you have to do to lower your spending and pay off that debt.
Also it’s important to create a realistic budget. A budget isn’t your enemy. It’s your guiding light. You can’t live within your means if you never make a budget. See what your actual expenses are and what you really have to spend.
It’s so important to develop the saving habit, not the spending habit. So when unexpected emergencies happen, you’ll be financially prepared to cover it.