Money Habits to drop in 2020

As the year 2020 is winding down, in a couple of weeks, we will be wishing ourselves a happy new year and also setting a new year resolution.

There are certain habits that you do knowingly or unknowingly that hinder your financial growth.

It’s not your fault and you are not alone.

Most of this habit, you either learn them from your parents(not blaming them though, they must have learned it in some way) or you picked them up while growing up.

But the truth is, these habits must be stopped or controlled if you truly want financial freedom.

Below are some of the money habit to drop in 2020

Instant gratification

This is the desire to experience pleasure and fulfillment without delay. Many of us like to instantly spend every penny we make. You need to control or stop this habit. Learn to invest and save your money.

Impulse Buying

This is the habit of buying things without prior planning. You go out, see a nice dress because you liked it, you immediately buy, some goes as far as borrowing so they don’t miss out on buying the dress.

It’s a habit you need to drop in 2020 if you want to be financially free in 2021.

Borrow to spend

I’m never against borrowing but borrowing to spend is not a good idea.

You can borrow to do business or invest but avoid borrowing to spend on parties, clothes e.t.c.

Some habits can be difficult to break. But if you’re guilty of any of the above, make a point of pushing yourself to change. Your finances depend on it.

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