Habits to avoid to keep your finances stable

[Carpon]

Maintaining a stable personal finance at times has to do with the avoidance of some habits that could be injurious to financing. Some of these habits include the following:

✓ Poor spending habits: at times this can be paraphrased as extravagant spending or impulsive spending. It is the act of not controlling what you spend on. You spend on anything your mind says. At times you buy irrelevancies at the expense of some very important things. You must avoid this in order to keep a stable finance.

✓ Morally bad habits: Some of the things that are injurious to finances are morally regarded as bad. The likes of drunkenness and womanizing. All these are both morally bad and financially injurious. Avoiding them will help you save a lot and by so doing improve on your finances and your financial life and strength.

✓ Risky investment and undertaking unwise projects: there are schemes that are Ponzi in nature while others have high risk factors. It will be financially wise to avoid them in order to keep yourself away from a state of financial crises.

 

[Yusra3]

Habits to avoid to keep your finances stable

1. Don't overspend. It's easy to spend when you're out of control, but it's far better to save up and wait for special occasions or when life gives you an opportunity to splurge on something fun rather than just blindly spending money.

2. Don't carry a balance on your credit cards. Credit card companies are looking for ways to get more money out of their customers, so they'll cut off your credit limit if you have a balance that is too high, which can lead to bankruptcy if you don't pay off the balance quickly enough.

3. Don't use debit cards instead of credit cards because they tend to have higher interest rates and fees than credit cards, so you end up paying more in the long run and will rack up more debt faster than with a regular credit card as well as having a lot less flexibility in terms of how much money is available at any given time (it's possible for someone with no income at all who has established good enough credit history could still be denied credit based solely on their lack of income).