When it comes to your money, certain habits and behaviors can negatively impact your bottom line.

In financial terms, your “bottom line” essentially means your profit.

Whether it’s what’s left after you’ve allocated your income to expenses and spending in the month (via your budget).

Or, if you’re calculating your net worth by deducting your total debts from your total assets.

Either way, we want our “bottom line” number to be as high as possible. The more profit, the more we can grow our wealth.

Unfortunately, certain toxic money habits can reduce our bottom line number. It can happen in small, sneaky ways, or it can happen in big, drastic ways.

Regardless, it’s important to know what those bad habits are, especially since they can have the opposite effect of what we want.

In this episode, I’m sharing 5 toxic money habits to break as soon as you possibly can.

 

Here's a glance at this episode:

• [02:23] You can spend money on non-necessities. The goal is to make sure spending is moderated by factoring those things into your budget.
• [05:18] Are you constantly pulling money out of your savings account? It’s very likely you have too much going into savings in the first place.
• [08:53] Depending on how much debt you have, it can take a long time to pay it off. That’s okay. Slow and steady can be effective. 
• [12:45] Comparing your life or trying to live a life similar to someone else’s will only lead to unhappiness and feeling less than.
• [15:40] If you tend to spend money before you get it, this toxic money habit could be causing you issues over the long haul.

 

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Resources mentioned in this episode:

Listen to CGS Podcast Episode 70 – My Budget Non-Negotiables

Download the free Debt Repayment Checklist

Learn about Raya’s Financial Focus Coaching Program

Follow City Girl Savings on Instagram, YouTube, and TikTok

Join the City Girl Savings Facebook Group

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