Nine bad money habits you should leave behind this year

Nine bad money habits you should leave behind this year (Photo: iStock)

Living beyond your mEAns

As the year comes to a close, Margaret says that one of the habits that people regret is living beyond their means or relying too much on mobile loans. Others wish they had tracked their expenses or said "no" more often to unnecessary spending. People then realise too late how small daily decisions determine financial freedom or struggle.

Emotional spending

She says money habits are usually driven by emotions and not logic, stemming from comfort, fear, or upbringing. People can spend to soothe, celebrate, or escape; therefore, recognising emotional spending, like retail therapy after stress, is the first step toward healthier financial control.