5 Expensive Habits that Deplete Your Bank Account

Most people tend to have a costly habit or two that might cause the bank account to suffer from time to time. Trust us, even the most frugal among us indulge in one or two expensive habits for the sake of staying sane in a busy life.

But if your honest self-assessment has you worried about the state of your bank account, then it might be time to make some changes.

So, if you haven’t yet, go ahead and take a good, hard look at some of your spending habits. Knowing what your harmful and expensive habits are can be the first step towards getting them under control.

Expensive Habits That Are Bad for Your Bank Account

Paying for a gym membership that you don’t use

We’ve all made commitments that are now impossible to carry through—there’s no shame in this. Costly gym memberships rank at the top of this list of commitments. It’s a feel-good expense that makes us feel as if our health and fitness goals are always within reach.

But be honest: how many times have you used your gym membership this year?

If the answer makes you cringe, then it’s definitely time to cancel it. Instead, you can always work out at home and still be well on your way to achieving your best body yet.

Gambling

Do you find yourself hooked on casual betting? While you may not be addicted to gambling, it is one of the more expensive habits that you’ll be better off without.

You could justify this by saying that you only put out a dollar or two at every game, but if you calculate how much you’ve spent on gambling alone, you might surprise yourself.

Is there any way to indulge in this habit without breaking the bank? The good news is that you can still do this but just lower the stakes. For example, if you can’t imagine not playing poker (online or in-person) with your friends, you may want to suggest betting using chips or pocket change.

Drinking too much

We get it, some things are better with alcohol. Hanging out with friends and enjoying our downtime might immediately come to mind. But drinking can be an expensive habit. The price of alcohol these days isn’t cheap, especially if you’re doing it at a bar.

Inviting people over for BYOB or meeting for a happy hour can be a much cheaper way to drink with friends. You can still get your fair share of fun without putting a serious dent in your wallet.

Smoking

If you’re not a smoker, feel free to skip this part.

If you are, then we’re here to reinforce everything that you’ve probably already heard before. We’ll start with this: smoking is bad for you.

It’s the mother of all expensive habits—it’s both addictive and harmful to your health. Not to mention, it’s expensive when you sit down and add up all those packs smoked over a year.

Driving too fast

The stars in Fast & Furious probably have nothing on you when you’re on the road. But with the ridiculous prices of gasoline, it may be time to reconsider your habit of weaving in and out of traffic.

If you find yourself constantly running late and speeding on your way to work, leaving home earlier could be a much safer solution. It could also save you from that $150 speeding ticket on your way.

Expensive habits got you behind on bills? Lending Bear is here to help. Cash when you need it, fast and friendly!