40 Money Habits That Can Leave You Broke

It’s easy to get in the habit of relying on food and drink to decompress after a long day at work.

“I’d grab a drink with friends more often than I realized,” said Jim Wang, founder of Wallet Hacks. “Spending $20 for a bunch of cocktails with friends isn’t a big deal until you do it half a dozen times in a month and you wonder where that money disappeared to.”

ATMs can charge up to several dollars per withdrawal, and those fees can sneak up on you. Even if the ATM is in a highly convenient location, consider that $3 per week can add up to $156 for the year, the cost of a fancy dinner out with a loved one or an extra deposit into an individual retirement account.

If your current bank or credit union doesn’t have many fee-free ATMs, consider switching.

“A lot of spending is due to last-minute decisions,” said Carey Ransom, president at OC4 Venture Studio. He offered these examples: “You’re going somewhere, and you forget to bring water or a snack. You forget your umbrella and get stuck in the rain. You are late getting somewhere and have to park in a premium spot.”

Add those kinds of unexpected purchases up, and you might just blow your budget, he added.

Any solid spending plan should budget for home and auto maintenance costs. Worn weather stripping, a poorly maintained HVAC unit or a clogged fan belt can create a bigger financial burden later on than the immediate cost of routine maintenance.

“If you try too hard to stick to a budget or plan, it can backfire,” said Valerie Rind, author of “Gold Diggers and Deadbeat Dads.” Instead, know that your plan is a roadmap. If you veer off track, accept it and keep moving forward. If you don’t beat yourself up, you’re more likely to get back on track right away.