Bad money spending habits can do serious damage to one’s financial situation. We all know this.

However, we often ignore that the damage doesn’t stop just there. Bad money spending habits can harm you on several fronts – not all of them financial.

Here are 5 examples of bad money spending habits with long-term negative effects that have nothing to do with money (though financial damage is an important aspect, as well). We also cover the usage of Delaware title loans if cash runs too tight to cover necessary and urgent expenses.

Bad Money Spending Habits That Cost You More Than Cash

1. Constantly Eating Out

Eating out is constantly mentioned on bad money spending habits. But unlike smoking/drinking, its non-financial adverse effects are usually not touched upon as frequently.

To put it plainly: keeping a nutritiously balanced diet while frequently eating out is almost impossible (and rather expensive, of course).

You’re far more likely to consume fast food for lunch than balanced meals (and/or resort to unhealthy snacks to curb a craving after consuming an unsatisfying salad).

Meal prepping can not only help you save cash, but it’s just healthier in the long run and allows you to accurately track what you eat.

2. Not Keeping Track

The biggest enemy of your budget is impulsive expenses you don’t keep track of. Not keeping track of your expenses not only damages your bottom line but increases your waste.

Take a look at your monthly transactions for example – how many subscription services and premium apps are you paying for, without using them all that often?

Knowing where your money’s going is how you take control.

3. Smoking (And Drinking)

Smoking (and drinking) are rarely considered to be bad money spending habits, with their negative effects largely discussed in the context of health.

And that’s fair – both smoking and drinking can have rather adverse long-term effects, all the way to developing into murderous diseases.

But they are also bad money spending habits as well, considering a typical smoker/drinker spends on average $100-$200 extra a month just on their vice.

And there’s more long-term financial damage to consider along with the health damage: a smoker’s health insurance can cost up to 50% that of non-smokers. And that’s without even accounting for any serious illnesses developed due to heavy usage.

4. Being Late On Monthly Payments

It’s not just your monthly paycheck that will suffer from extra fees if you keep making payments late, but your overall financial profile as well.

Late monthly payments are often the sneaky enemy that keeps bringing your credit score down, which, in turn, creates a multitude of other financial difficulties that touch upon most aspects of your life – from getting a personal loan, to getting a mortgage, to simply meeting potential landlord’s requirements when looking for a new apartment.

5. Living Paycheck To Paycheck

You can be a master budgeter and know exactly where your money is going – and it will still be a bad money spending habit if you have nothing left over by the next paycheck.

Spending every last penny is what has brought most Americans to the point where they cannot get $400 together if hit by an emergency.

Your financial plan needs to be long-term, and it must include having at least an emergency fund covering 6 months’ worth of your expenses and a retirement plan.

Otherwise, there’s nothing to protect you from financial ruin.

How Title Loans Help And When To Look For Title Loans Near Me 

Curbing bad money spending habits takes time and work. It’s, unfortunately, not a habit that can be fixed overnight. You can, however, cut the risks by considering the pros and cons of your money moves before making any decisions.

But it’s good to keep in mind that if your bad money spending habits have left you in hot water, facing financial trouble with no emergency fund, that you still have options to consider. For example: getting car title loans with no income verification.

Title loans are accessible, easy to apply for, and quick – all factors to keep in mind when in need of cash on short notice to deal with a time-sensitive issue.

Do keep in mind, however, that googling title loans near me at the first sight of money trouble isn’t the way to approach problem-solving.

You should sit down and consider all the pros and cons of adding to your financial obligations to solve the problem quickly versus postponing dealing with it while trying to get cash together without going into debt.

And only if the pros outweigh the cons, should you start searching for title loans near me.

How To Get Title Loans Near Me

First, you’ll need to make sure you qualify for a title loan – you’ll need a state-issued ID proving you’re of legal age, your vehicle, and the vehicle’s lien-free title in your name.

Once you’ve got these items, go through the following process:

1. Submit a filled-out online form on Delaware Title Loans, Inc. to send your information to the nearest location.
2. Wait for a loan representative to contact you and provide further instructions and schedule a meeting with you.
3. Take the required items to the meeting the representative sets up.
4. Let them inspect the car and the documents to determine if you qualify for the loan.
5. If you are approved, you can get your loan the same day or the following day, depending on bank delays.

Submit An Online Form To Get Title Loans Near Me

Curbing bad money spending habits may take time – that’s why making sure to have a plan B is smart in case cash runs too low.

A title loan can be an option to consider when you need money on short notice to deal with a time-sensitive problem that could otherwise escalate. Apply right now and you could qualify for up $15,000 by the end of the day. 

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.