Many people get so wrapped up in their day-to-day financial obligations that they forget to consider the impact their choices have on their financial futures.  Taking even seemingly small actions with your money today can make or break your finances in the years to come. 

Here are five bad habits to avoid for a more stable financial future.

  1. Excessive Transportation Costs

    A common financial mistake is paying too much for transportation.  For example, lots of people purchase new vehicles when they would have been better off with a used one.  Others get lured into high-interest, long-term loans on used vehicles without realizing the full impact of their actions.  For those in more densely populated environments, advancements in transportation technology have created exciting opportunities like ride-sharing apps and rentable electric bikes and scooters, all of which can bring down their transportation costs considerably.

  2. Not Monitoring Credit Score

    One of the most important aspects of maintaining financial stability is having a good credit score.  The only way to make sure your credit score is accurate is to monitor it regularly.  When you stay on top of your credit score, you can spot errors quickly and immediately get started on resolving them, resulting in a lot less long-term damage to your financial status.  Every 12 months, you can order a free copy of your credit report at

  3. Avoiding Investing

    Investing opportunities are no longer reserved for the wealthy.  There are now numerous investing services and apps geared toward those who are interested in investing but don't have a huge amount of capital to start with.  These new technologies paired with the incredible array of beginner-friendly research and analysis tools available on the internet means there are no longer any excuses for not investing.

  4. Paying Top Dollar

    In the same way technology has enabled easier investing, it's also made saving money on nearly everything you buy a reality.  Online coupon and deal websites have new offers daily for saving money on everything from groceries to a night out on the town.  Mobile shopping apps will also typically have a promotion for most products you buy, especially when it comes to online retailers.

  5. Not Proactive About Debt

    Delaying the repayment of debt can damage your financial future more than perhaps any other action.  Debt requires a detailed plan for how to eliminate it as quickly as possible, as interest will only continue to accrue with every passing day.  Some tips for faster debt repayment include paying off high-interest loans first, pursuing negotiations with creditors and organizing your personal budget to create the most resources possible for your debt repayment efforts.

These are just some of the many bad habits people often fall into with their money.  By keeping transportation costs down, utilizing technology to save money, being proactive about debt repayment and keeping an eye on your credit score, you'll ensure a secure financial future for yourself and those you care about.