We all have habits that we’ve adopted over time. Some of them are positive, while others cost us money, our health and sanity, and more. If you’ve adopted any of these six bad habits lately, or have been a victim of them over time, it’s time to take a step back, analyze where you’re at, and make a positive change. 

Not only will your wallet benefit from these changes, but your mental and physical health can also benefit from things like ditching alcohol and cigarettes. Let’s look closer at six habits; you can kick to the curb to save you thousands per year. 


There’s no positive way to spin it; smoking is as dangerous as it is expensive. Depending on where you live, you could be paying over $10 per pack of cigarettes, and the healthcare costs associated with some of the effects of smoking can be astronomical. Have you ever seen a hospital bill for cancer treatment? 

With so many alternatives to tobacco use available (like tobacco-free dip from https://blackbuffalo.com/), there’s simply no reason to continue spending money on cigarettes. They’re literally burning a hole through your wallet and your future. Why put your health and financial security at risk for a vice that can eventually kill you?

You could potentially save about $1,000-$3,500 per year by quitting. That’s money you can put toward a college fund, savings account, retirement, or a dream vacation. 

Not Looking At Your Bank Statements

Some people don’t ever look at their bank statements, and this is a really bad habit to get into. With online banking apps, checking your bank statements is now easier than ever. You can even have them emailed to your personal email address where you can download, view, and even print them off. How convenient is that?

Looking at your monthly statement can help you get a better idea of where your money goes each month. Small purchases add up, and while they might not seem like much in the moment, looking at the monthly tally might change your mind. 

Impulse Spending

Speaking of in the moment, impulse spending is a financially devastating habit that’s all too easy to get into. It’s all too easy to fall for that cleverly-placed product, ad, or promotion. We’ve all done it, and it’s amazing what excuses our brains come up within the moment to convince us we need that pair of shoes, new phone, or t-shirt. 

Take a look at your bank statement when the month ends. How much money did you spend on impulse buying? If you’re like most of us, it’s probably somewhere in the hundreds per month, which is money you could be putting back into your pocket or towards some other worthwhile investment. That extra pair of shoes isn’t helping you save for retirement or get out of debt! 


Frequently drinking alcohol is a destructive and costly habit. Occasionally having a drink isn’t going to cause your liver to deteriorate, but a daily drink or two can have some serious repercussions. Not only is alcohol a depressant, but it also damages internal organs, from the heart to the blood vessels to the liver and intestines. 

Drinking alcohol frequently is also costly. The cost of a six-pack of beer is anywhere from $5-$10 depending on where you are, and liquor is far more expensive, as is wine. If you’re a regular drinker, you’re sinking hundreds if not thousands of dollars per year into the habits. Quitting drinking can save you money, minimize the risk of addiction, and keep your health and bank account intact.  


Did you know that frequent gambling can actually become an addiction? That’s right. You can become addicted to just about anything that creates the euphoric “high” that comes from an endorphin release. Gambling, drinking, smoking, all of these things can be addictive and cost you thousands of dollars per year. 

Many gamblers start out with simple betting on lottery tickets and eventually can escalate to maxing out credit cards at casinos, betting personal property, and draining savings accounts. 

Credit Card Spending

Credit cards are a good way to spiral out of financial control if you’re not careful. It’s all too easy to visit a store or website knowing you’ve got $1,500 to spend on a credit card; until the bill comes at the end of the month, and you realize you can’t afford the entire amount. 

A good practice for credit card spending is never to spend more than one-third of your total limit and to ensure that you have enough money saved up to pay off the card in its entirety. Reducing your impulse spending will help limit credit card debt as well!