9 Bad Money Habits To Ditch in 2025
9 Bad Money Habits To Ditch in 2025, According to Rachel Cruze and George Kamel
Angela Mae Mon, January 20, 2025 GOBankingRates
Personal finance gurus Rachel Cruze and George Kamel recently released a video about things to stop doing with your money in 2025. In the video, they covered some key bad money habits people often fall victim to, many of which require some degree of work to break.
If you want to improve your own financial habits and start 2025 right, here’s what Cruze and Kamel suggest you stop doing right now.
Putting Your Financial Goals Aside
If you’ve been putting your financial goals on the back burner, it’s time to make a change. Don’t wait to do something good for your finances. Do it as soon as you can.
According to Kamel, people often say, “I’ll just do it next year, I’ll get to that later or I’ll save when I’m older.” But this can be problematic since, in most cases, working toward and achieving those goals takes time. The longer you wait to get started, the harder it is to get to where you need to be.
Not Knowing What’s in Your Bank Account
Cruze pointed out that many people don’t really know what’s actually in their bank account when making a purchase. This ties in to the concept that ignorance is bliss, but it’s a problem when the money simply isn’t there — or should have been saved for something more important.
Kamel gave the example of someone who says, “I don’t want to look at my bank account because I don’t need that negative energy in my life.” This leads to avoidance rather than a tangible solution.
Judson Brewer, a psychiatrist and doctor, told Chime that financial avoidance tendencies stem from survival instincts, in which we try to avoid pain and seek pleasure. In fact, unexpected bank fees, including overdraft fees, affected 20% of Americans in 2023, per a Chime study.
Using Your Credit Card as an Emergency Fund
TO READ MORE: https://www.yahoo.com/finance/news/9-bad-money-habits-ditch-160018000.html