Money habits that hurt you recklessly to ignoring bills, some common money mistakes can compound over time and prevent you from reaching your financial goals. Luckily, you can make proactive changes to break bad habits and improve your financial health.

A recurring subscription fee or unnecessary purchase may seem harmless on a day-to-day basis, but it can add up to hundreds of dollars in a year. Many people are unaware that these small expenses are stealing away funds that could be invested or channeled toward more lifestyle-defining financial aims.

Keeping up with the latest fads can leave you in debt long after they go out of style. To avoid wasting your money on fleeting fads, focus on function over fashion when making purchases and try the 24-hour rule — wait 24 hours before buying non-essential items to help distinguish between impulsive desires and true needs.

Money Habits That Secretly Destroy Your Financial Future

When you spend more than you earn, your credit score may suffer. Saving and budgeting, paying on-time bill payments, reducing your reliance on debt and spending within your means are healthy practices that support a strong credit score. Check your credit for free at Experian to see how your efforts are paying off.

It is easy to fall into these money-draining habits, but it is also easy to break them. Start with the basics, such as putting more of your income into savings, establishing an emergency fund and making regular contributions to a retirement or health savings account.

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