Special Report

40 Money Habits That Can Leave You Broke

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11. Accepting Bad Checks

One fee levied by banks is a bounced-check fee applied to the person who tries to cash or deposit the check. That’s right — some banks assess a fee against recipients of checks from people whose accounts have insufficient funds.

The solution? Make sure anyone writing you a check has sufficient funds in the account it’s coming from — if you can.

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12. Not Having Health Insurance

“Young people, especially men, often think that they’re invincible and don’t need health insurance,” said Steven Fox, a San Diego-based financial planner with Next Gen Financial Planning. “However, unexpected tragedies like a car accident or bad sports injury could result in significant financial setbacks on top of the other problems.”

College-age students can remain on their parents’ health insurance plans until age 26, sign up for their school’s health program or buy low-cost catastrophic coverage from commercial carriers, he added.

Regardless of age, not having health insurance can be costly; you will have to pay out of pocket if you do need medical attention.

ALSO READ: 30 Weird Ways People Go Broke

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13. Ditching Your Change

For people who still use cash when out and about, the amount of change received on a daily basis can add up. Don’t just disregard your coins. Instead, save them in a jar and periodically bring them to your bank for sorting and deposit. You’ll be surprised at how much you save over time. And you can grow those savings even more by putting them in the right savings account.

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14. Not Checking In With Your Partner

Couples who don’t make a plan to check in with each other about spending choices run the risk of ruining a financial plan. Elle Martinez, founder of Couple Money, suggests a check-in for purchases over a certain dollar amount (she likes $100).

“Double-dipping into the joint account can quickly drain things, so keeping one another in the loop is essential,” she said.

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15. Smoking Cigarettes

As many as 34.2 million Americans still smoke cigarettes, according to the Centers for Disease Control and Prevention. A pack of smokes costs between $5 and $13, depending on where you live. At half a pack a day, that’s anywhere between $200,000 and $600,000 over the course of 40 years, assuming you’d invested that money at an 8% return instead.

Give up this habit and save your money — and your health.

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