You have no money.
And you don’t know where it’s all going.
It seems to fall out of your pocket as fast as you earn it, and how it happens to do that is a complete mystery to you.
We get it. It can be difficult to really pinpoint where your money leaks are.
So that’s why we thought we’d bring you a list of reasons you have no money. Not any one of these reasons will be the sole reason, but combined with the others and you’ve shot yourself in the foot financially. Watch out for these money leaks:
1. You’re eating lunch out more than twice a week
2. You’re buying coffee out instead of making it at home
3. You don’t track your outgoing money
4. You have no idea how much you make after taxes and bills
5. You are house poor
6. You bought/are renting a house that is draining your money in repairs
7. You drive a vehicle
8. You drive a new, large vehicle
9. You drink alcohol more than once a week
10. You are an impulse shopper
11. You buy all of your groceries at one store
12. You love convenience products
13. You have both a home phone and a cell phone
15. You pay for books, movies, and magazines
16. You don’t meal plan
17. You and your spouse disagree on money topics
18. You don’t keep a budget
While most of us have at least one of these bad habits behind us, the problem comes when you do more than one, or have an expensive habit (like driving everywhere or not budgeting).
While we’re not suggesting that you cut everything you enjoy out of your life, it is a good idea to check your financial health out once in awhile and review your budget and income to see where you can cut back.