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9 Bad Financial Habits You Need to Break to Get Out of Debt

9 Bad Financial Habits You Need to Break to Get Out of Debt

9 Bad Financial Habits You Need to Break to Get Out of Debt

We all have our comfort zone that we indulge on a daily basis. On the other hand, a good pair of jeans might seem harmless but you’ve got to take into account the financial aspect. Spending money here and there could leave you in a financial pit.

If you understand your financial position early on, you can safeguard yourself from debt and avoid yourself from trouble. If you’re already in the red zone, understanding these behaviors can help you get back on your feet.

According to data compiled through the U.S Census Bureau and the Federal Reserve, average household credit card debt in 2014 was a whopping $15,191, with Americans owing more than $854 billion to their credit card providers altogether.

1. Impulse Buying
2. Using credit cards for the points
3. Shopping to be happy
4. Expecting a miracle
5. Excessive lifestyle inflation
6. Keeping debt out of sight and out of mind
7. Taking interest free loans
8. Only paying the minimum
9. No debt planning

The above are a handful of bad financial habits you must avoid in order to have your financial position in a good shape. Spending moderately is advised especially in this economy.

United Financial Counselors understands the added advantages when you combine the professionalism of CPA’s, Attorneys, Financial Advisors and Counselors all for the greater good of the struggling homeowners in South Florida and Connecticut!

You can contact us any time at 954-372-4370. We are available around the clock.

Posted in General News