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StitcherWages are stagnant, inflation is inflating, but these are NOT the reasons most people are broke. It’s our habits, shaped by the world around us and social media, that keep us spending, not saving, and stuck in debt. Today, we’re looking at the WORST money habits that are actually keeping you broke and showing you how to flip each one around.
More money without good money habits is just more opportunity to make more bad money decisions.
Sponsors:
- Your food at home. Here’s a bonus awful money habit, getting takeout when you’ve got food at home. Meal prepping with pre-chopped ingredients or prepping ahead can save you big, and our new Meal Planner Spreadsheet bundle makes it easy. You’ll get recipes, pantry, fridge, and freezer trackers, a measurement conversion sheet, 1,000 meal ideas, plus a FREE copy of Meal Planning on a Budget!Grab it at frugalfriendspodcast.com/mealplanner and head to the YouTube description for a code for 30% off!
Check out some relevant episodes
The 21 Awful Money Habits
Jen and Jill dive right into money habits you might think don’t affect your savings but actually do. Like procasti-spending, saving what’s ever left, or not investing—and they mean actually investing. Pretending to be blind to your spending might also feel easier, but ignoring money only makes things worse.
Instead, they share simple moves like doing a 90-day transaction inventory not to beat yourself up, but to actually see what’s going on and figure out your next steps. They also recommend putting your cash into a high-yield savings account like CIT Bank to make your money work harder for you or build credit by paying rent through Bilt.
Breaking Free from the Money Habits Keeping You Stuck
It’s not always about our money habits, sometimes it’s the stuff we can’t control, like scams and frauds popping up everywhere. Trusting everyone with your money isn’t the move, so it’s always better to be safe than sorry. And as Jill points out, overcomplicating things doesn’t mean it’s going to work better. It’s the simple and right moves that actually get you the results you want.
But at the end of the day, beating yourself up over money mistakes, or the “should’ve dones,” is the fastest way to stay stuck, so instead, we have to shift our minds and move forward.
What’s a broke habit you left behind for good?
Jen, proud and loud, says it’s the belief that the cheapest price is always the best price. For Jill, it’s collecting things just because they’re cheap but sure, the price is low, but they still bring physical and mental clutter.
Bill of The Week
Thank you Kait for sharing your bill about getting a 30% on your medical bill!
Thanks so Much for Listening!
Thanks so much for listening. We love love love reading your kind reviews of our book Buy What You Love Without Going Broke and we especially loved this one from:
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Great read
I have enjoyed listening to the Frugal Friends podcast for a couple of years now and was excited to read their book. It did not disappoint! Jen and Jill are like your best friends having an honest conversation with you about money. There is no judgement or shame, just ideas to help you have the best relationship with your money and how to make your best decisions. I am in my early sixties and found this book to be very helpful. Thank you Jen and Jill!
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