There are some habits people have inculcated through the years, that have been detrimental to their financial status. They are lifestyle habits that can leave you broke.
Here are the habits that can leave you broke
1. Clubbing and partying
Once in a while, it won't be a bad idea to go out and unwind but if you club all the nights of every week or every weekend, you would be broke all the time.
Things are always on the high side in clubs, which means you spend more when you are inside a club. So try to reduce your clubbing and partying if you want to save more and avoid going broke.
2. Excessive drinking
The first thing that comes to peoples' mind when they hear excessive drinking is alcohol consumption, but it is not only alcohol people drink in excess.
If you consume a lot of soft drinks, sodas, fruit juice and alcohol on a regular basis, you are bound to go broke quick. Not only does it aid in going broke quick, it is also bad for the health. So it would be double jeopardy. You don't want to be broke and also have a health problem.
3. Betting and Gambling
If you gamble and also indulge in betting, whether online or offline betting, there is a high probability you would always be in a broke state.
With the rise of gambling and betting centres, a lot of millennials are indulging in the habit. You keep staking, hoping to win and if you don't win, you repeat the cycle.
If you eventually win, you think you can win more and you stake your winnings into it, which leaves you back to square one.
Gambling and betting is a bad money habit which is quite difficult to quit once you are hooked on it, and would definitely leave you broke.
4. Impulsive spending
Spending money on impulse is a money habit that can leave you broke.
Spending money without having an initial plan to spend is a bad money habit to avoid. You should have a plan when you want to go spending to avoid being broke every time.
5. Eating out
If you constantly eat out, you are very likely to be broke on a regular basis. Sometimes you feel like treating yourself specially and you eat out.
But if you do it every time, you can run out of cash quickly which won't be so good.