7 bad habits of people who suck with money

7 Habits Of People Who Are Bad With Money

Some people know how to save while others don’t. Some can invest their cash, while others just can’t. There are seven habits of those who are naturally bad with saving and investing.

Being terrible with money is a problem that many have.

But, is it possible to change?

Well, yes, it is.

But first, you need to identify the issue. There are 7 habits of people who suck with money. These seven bad habits tend to be what keep most folks from achieving their goals. This article is going to explain what those habits are and how you can avoid them.

1. Americans Can’t Manage Money

Statistics show that Americans aren’t too good at saving. Marketwatch.com lists a few reasons why that is. It turns out that most Americans barely have 1,000 dollars in a savings account.

What’s even worse is that people in America don’t seem to be scared of spending. Around the world, families are tight with cash and don’t spend.

Now, while having consumers spend money is definitely good for the economy. It’s not the same when people use credit to buy stuff.

Marketwatch mentioned the record-high debt we have here in the US. That’s not even counting the national debt, which is definitely out of control. But the personal debt of individual Americans isn’t where it should be either.

The US economy basically runs on debt and loans. People borrow money to buy stuff in this country. So if you’re from America, it might be a cultural thing holding you back.

2. You Keep Making Excuses

Have you even planned on starting a savings account but never did?

What was your excuse? Most people don’t save out of laziness. If you’re too lazy to get up and make a saving or investing plan, then nothing will ever work out for you.

Or maybe you just moved into a new apartment and have more expenses.

Yet, guess what.

That’s an excuse too! Who told you that you had to live somewhere expensive? Maybe you should have moved back in with your mom! It’s worth it if it means you’ll learn how to manage your savings better.

People make too many excuses.

You have control over your own life. Make the right decisions for you and your wallet, and stop with the excuses.

3. Being Good With Money Takes Effort

Learning how to handle money is like learning any other skill. It takes time and effort to learn. For those who refuse to put in the time, how do you expect to get anything back?

Oh, and by the way, it’s nobody else’s job or responsibility to teach you how to save and invest.

I see a lot of younger people today complain about the lack of financial education in school. However, people in the past didn’t have financial education either.

Educating yourself about money is something you learn through life. Yet, the problem stems from kids refusing to grow up today. A child 100 years ago knew more about saving and investing than a child living today.

That’s because kids back then were forced to grow up a lot sooner than they are today.

If you want to learn how to get better with money, my advice would be to get a job, pay your own bills, and start reading some books.

4. You’re Too Obsessed With Having Fun

Having a good time is all fine. Life is all about enjoying it to the fullest. However, there should be a limit to how much fun you have.

People who party and fool around a lot end up spending too much. They also tend to focus less on things like saving and investing cash. If you’re someone who likes to party, just remember where your priorities lie.

Do you want to have better control over your life?

Do you want to increase your income and have more chances to do fun stuff?

Well, if that’s the case, then you need to spend less time fooling around. Yes, having fun in life is indeed important. But not if it’s going to prevent you from reaching your money goals.

5. Investing Money Seems Complicated

Investing is essential if you want to build wealth. It takes more than just saving cash to do that. Yet, if investing seems too hard or scary for you, then you’ll never reap those benefits.

The people that don’t invest never get rich.

They never build a foundation for themselves.

Without investments, your wealth will never grow. That’s why getting intimidated by the market is such a bad habit to have. Investing is not scary, nor is it really hard.

You could always just put some cash into an S&P 500 index fund and wait it out. Your dollars will gain at least 7%-10% interest every year with no effort. There’s no need to be a risk-taker and invest in anything crazy.

You need to sit down and figure out how much money you can afford to take out of your salary to put into an index fund. There’s nothing hard or complicated about it.

6. You Don’t Check Your Bank Account

This article is about 7 habits of people who are bad with money. Truthfully, the worst thing you can do is never check your bank account. And some people do this too.

I’ve seen people forget and neglect their savings account for months, even years.

That’s a big mistake.

If you’re too lazy to check your bank account, how can you expect to be good with money? It’s not going to happen unless you’re keeping track.

Instead of holding it off, check your bank balance regularly.

You can sign up for mobile banking and check it on your phone. My grandfather was an entrepreneur, and he would always check his account regularly. Plus, back in the day, there was no mobile banking, so there’s no excuse!

7. You Smoke

I don’t think I must explain how bad smoking is for you.

  • It ruins Your Health
  • Drains Your Wallet
  • Makes Your Breath Stink
  • And It’s just annoying

However, draining your wallet is one of the worst effects smoking has on a person. Smoking is addictive, and when a person is addicted, they don’t think.

The financial cost of smoking is insane. Even worse is that it damages your health. A healthy person might not have any medical bills.

But for smokers, the chances of having health problems increase dramatically.

Medical bills are not cheap, especially if you live in the United States. So do yourself a favor and stop smoking right now. It’s a terrible habit in general.


So there you have it.

Those are the 7 habits of people who are bad with money.

Each of them has its own specific issues that pile up. After some time, your finances suffer due to persistent neglect. Whether you’re not putting in enough effort or because of a bad smoking habit, money isn’t going to come if you have these habits.

The best thing you can do is to cut them out now and start paying more attention.

Get a savings or an investment fund going. Then tie up any loose ends by simplifying your quality of life. There’s no need to go out every night. Just like there’s no need to spend a lot on nonsense.

Do that, and you will get better with money.

Be smart and don’t settle for little.

Hey there! I'm Alex, a freelance writer, and blogger. I started my journey towards FI in 2018, when I created this blog. I love talking about blogging, writing, personal finance, and internet entrepreneurship. If you enjoy my content, stick around, and we'll share ideas for reaching FI together!

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