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Our good habits carry us along almost effortlessly. That’s positive. It lets us focus on the things that need our attention most.

But as you work to pay off debt, save and get your financial life on track, you’ll probably find some old, counterproductive habits undermining your progress. They may have worked once, but now they’re holding you back.

Dropping bad money habits makes it easier to power up your financial life. Following are 10 bad habits, and tips for ending them.

1. Carrying a credit card balance

Carrying a balance on a credit card is like walking down the street with a hole in your wallet and your money leaking out.

Here’s why: Suppose you decide to pay off a $5,000 balance on a card charging 15% interest. If you only pay the minimum amount each month, it’ll cost you at least $7,000 in interest and take decades.

Think what you would love to do with that $7,000.

Build a better habit: One approach to erasing the card balance is to devote every spare penny to getting rid of it. If you have other pressing debts, you’ll need to make a plan for dealing with all of them.

Keep the balance from building again by making it a new habit to pay off the entire bill every month — no exceptions ever. And remember, your credit card balances directly impact your credit score. A poor credit score can be downright expensive — potentially tens of thousands of dollars over the course of a lifetime. You can monitor your credit scores — you get two credit scores for free every month on Credit.com — to see how your credit card debt is impacting your credit scores.

2. Failing to fund a retirement plan

There are compelling excuses to put off saving for retirement. But none will matter if you reach retirement age with little saved. And, if you don’t take advantage of your employer’s matching contributions, you’re passing up free money every month.

Build a better habit: Imagine yourself at age 70. Or 80. Picture concrete details — how you’ll look, your surroundings, how you’re spending time and who is with you. The more real your future self is to you, the more likely you are to care for her or him today.

Start paying close attention to your retirement savings. If you can’t bring your plan’s monthly contribution up to your goal immediately, increase it by 1% a month. Once a year, check the performance of your investments and rebalance your portfolio.

3. Not shopping for monthly services

Hopefully, you comparison shopped before signing up for insurance policies. Same thing with phone, Internet and cable service.

But you may be missing savings if you’re not checking prices again once a year.

Build a better habit: Put some energy into improving your financial life. Once a year, spend 30 to 60 minutes price shopping for monthly services. To make it easy, keep a list with each company’s name, your account number and your monthly payment amount.

4. Paying for cable and landline phone

Cable prices are going nowhere but up. Free and cheaper alternatives make experimenting worthwhile. But will you get out of your rut and try something new?

Build a better habit: Before trying a change, just observe yourself and your habits. Record your viewing habits for a week or two to see how and if you’re using the services.

Ditto for your landline. If you’re able, drop the landline and use mobile phones only. If that seems too radical, refrain from using the service for one month — or even just a week — while you check out alternatives.

Some possibilities:

  • Drop the premium cable tiers; learn to love basic.
  • Find out if you’ll pay less by bundling Internet and phone services with one company.
  • Get an all-inclusive mobile plan with unlimited text, data and phone.
  • Switch to Skype, Vonage or another cheap or free Internet phone service. Don’t be scared of the new technology. It’s easy to use.
  • Cut the cable and substitute sources like YouTube, Hulu, Netflix, Redbox and DVDs from the public library.
  • Try a free Internet service.
  • Find lots more tips at “3 Steps to Cut Your Cable Bill 90%

5. Ignoring coupons and deal sites

If you aren’t using coupons and checking daily deal sites, you’re spending too much. However, exercise discipline when bargain shopping so you don’t sabotage your good intentions with impulse buys.

Build a better habit: Tackle bad habits in small bites. Try just one deal or coupon site.

Try one of these:

  • Check daily deal message boards like Slickdeals, LivingSocial and Woot for cut-rate prices.
  • Explore grocery store apps that deliver coupons and personalized savings to your computer or smartphone.
  • Grocery store receipts often have printed coupons.
  • Manufacturers’ websites often have coupons.

6. Playing investing too safe

Safe investing is important. But there’s safe, and there’s too safe. Keeping all your money in no-risk accounts means inflation will rob you of spending power slowly but surely.

Build a new habit: Don’t break all your bad habits at once. Pick one and focus. For instance, make managing your investments a priority. Learn your investing style by taking an online risk-tolerance quiz. Next, read up on the basics of investing. Then — taking your age and risk tolerance into account — take another look at your investments.

Money Talks News founder Stacy Johnson tells how to invest in a mutual fund and how to get started in the stock market.

7. Getting hooked on lattes

That $4 latte is killing your budget. One latte a day each workday adds up to $20 a week — $1,040 a year. If you tip a dollar each time, you’re spending $1,300 a year. There’s surely something you’d rather do with that $1,000.

Build a better habit: Substitute new habits you enjoy for the old ones. A latte is a way of treating yourself, so find treats that don’t bust your budget.

8. Living without an emergency fund

If you don’t have an emergency fund, your life is a high-wire act with no safety net. Emergencies are inevitable. Life is full of them.

Build a better habit: Make a commitment to the change you want. Write it down and put it where you’ll see it and allow it to reinforce your resolve. Keep the change at the forefront of your mind and tell yourself continually: “I can do this.”

Commit and watch your savings build. If necessary, take on a few hours of extra work each week, whether it’s overtime at work or watching neighbors’ dogs.

9. Buying retail

Paying retail markup is like setting a match to a pile of cash. Smart buyers find ways to avoid it.

According to Edmunds.com, a new car’s value drops 8% the minute it leaves the dealer’s lot. At the end of the first year, it’s worth 19% less. After two years, it’s worth 31% less.

One caution: There are things you should never buy used — pet food, blenders, hats, mattresses, underwear, swimming suits, vacuum cleaners, stuffed animals, tires and software, among them.

Build a better habit: If you feel pressure to keep up with your friends or neighbors, ask yourself what that’s costing you. Stay out of malls and brand-name stores except when researching products. Read up on prices online so you know a good price when you see it.

Shop at wholesale clubs and bulk stores, garage sales, consignment stores, thrift stores, online auction sites and classified ads. You’ll find especially good deals on used cars, refurbished electronics, jewelry, furniture, housewares, clothes, tools, books and sports equipment.

10. Using shopping as entertainment

You know people with compulsive shopping habits. Maybe you are one. Spending creates a high that’s addictive and can severely damage your budget and the financial security of your family.

Build a better habit: Try a spending fast, remove your name from catalog lists, stay out of stores and hang out with friends whose idea of fun doesn’t include shopping.

But if none of these habit busters works and you’re still struggling with your shopping habit, you may need help. Debtors Anonymous is a free, nonprofit 12-step organization based on the principles of Alcoholics Anonymous.

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