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Why A Shopping Ban May Not Be Right For You

Have you ever heard of a shopping ban, a spending fast, or a spending diet? A lot has been written about this style of saving money recently.

Whether you want to call it a shopping ban or a spending diet, it’s the same thing: you stop spending money on everything except the bare essentials. Things like rent, food, and health insurance get a pass, but everything else like eating out, movie nights, concerts, or clothes are a no go.

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How Little Expenses Add Up and Cost You

I’m sure most of you have heard of the “Latte Factor” at some point. It’s supposed to illustrate that having a somewhat inexpensive daily spending habit can add up to thousands of dollars down the road.

It’s not false, either. If you’ve never stopped to track your spending, you could very well be spending close to $1,000 on coffee per year. Or $2,000 on fast food. Isn’t that a bit scary?

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3 Financial Habits That Are Keeping You Broke

Getting away from the “broke” label and lifestyle can be really, really hard. It takes dedication and a sharp eye on your finances to break free of broke.

For a lot of us, it seems like an impossibility. Every expense is a necessity. Sometimes it’s hard to see with clear eyes just what exactly it is that seems to suck up your paycheck each month. Bad financial habits are a big part of these drains.

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