people are creatures of habit
Philadelphia, PA (PRWEB) July 09, 2016
National Debt Relief recently shared in an article published June 9, 2016 some of the common consumer habits that would often lead them to disaster. The article titled “7 Bad Financial Habits That Can Lead You to Debt Hell” talks about habits people have grown accustomed when managing their finances that simply leads to trouble.
The article starts off by explaining how people are creatures of habit because they make life simpler. For people who has made it a habit of making their bed every morning, it comes automatically that they do not think about it. Even when going out to exercise, it comes naturally rather than having to force themselves to go to the gym.
But as beneficial as those examples maybe, there are a few financial habits that has proven to be detrimental to people. The article shares that one of them is buying on impulse oftentimes with a credit card. The problem with this is that it is an un-scheduled expense and people run the risk of not having enough in their monthly budget to cover the payment at the end of the month.
Another habit the article touches on is the culture of trying to keep up with the Joneses. This basically emanated from a cartoon strip where a family constantly tried to compare their material possessions with that of their neighbour. This is a problem with some consumers nowadays where they benchmark their success with their ability to keep up with what the people around them are buying. Sadly though, those that are trying to keep up are the ones that cannot afford the expense and end up in debt.
Retail therapy is another dangerous financial habit people have developed and come to embrace over time. This simply means heading on out to several establishments to shop just to feel good. This puts a dent on a consumer’s finances that can be hard to climb out of over time. To read the full article, click https://www.nationaldebtrelief.com/7-bad-financial-habits-can-lead-debt-hell/