Posted by Tim Stobbs on October 26, 2009
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?