Clean Up That Money Act

Busting your bad money habitsOctober 19, 2012

Don’t let bad habits bruise your financial standing. This week on Money Wise, we’re looking at how common bad behaviour can have a lasting effect on your bank account.

Whether you’re a bill procrastinator, overspender, or a ticket magnet, we have ways to help you clean up your act – you naughty thing, you.

What Traffic Tickets Will Cost You

Living life in the fast lane may be a rush, but it pays to slow down. Not only does hitting the highway at top speed endanger other drivers and passengers, it also poses a hazard to your wallet.

If you think traffic tickets over time will cost you big – imagine the financial burden of losing your license.

Read Allan’s Blog | What Traffic Tickets Will Cost You

Are You A Bill Procrastinator?

It may be tempting to put off a bill or two when money is tight, but a temporary payment reprieve will come back to haunt your bank account. Not only could you be dinged with late payment charges and interest, but your credit score will also take a hit.

Check out our tips for organizing your billing schedule, and get punctual with your payments.

Read Diane’s Blog | Are You A Bill Procrastinator

Are You A Shopaholic?

A little “shopping therapy” may make you feel better in the moment, but if your credit card bill constantly leaves you crying, it may be time to assess your spending habits.

If you find yourself constantly rationalizing your purchases, or even hiding them from your friends and family, a deeper issue could be at hand. Check our our shopaholic warning signs.

Read Melanie’s Blog | Are You A Shopaholic? 

And in headlines this week…

What Is Economic Capacity?

What is economic capacity, and what implications does it hold for Canada’s own economy, as well as on the global scale? Read on for a breakdown of how economic capacity works, and the ways it can change.

Read Rubina’s Blog | What Is Economic Capacity?

Canadian Household Debt Higher Than We Thought

Canada’s debt to income ratio and subsequent household debt is far higher than previously thought, on par with the number that sparked the U.S. economic downturn and housing market crisis.

Read Penelope’s Blog | Canadian Household Debt Higher Than We Thought

CREA Reports Slight Gains In Canadian Housing Market

Slight gains are being witnessed in the Canadian housing market for the first time since August – and they could be a sign that real estate is slowly starting to recover from CMHC’s mortgage rule change bomb earlier this summer.

Read Penelope’s Blog | CREA Reports Slight Gains

You Answered!

This week's pollThis week on Money Wise, we asked Canadians:

What’s your worst bank account-affecting bad behaviour?

58.2% of respondents admit their spending habits are out of control, and they can’t help but shop till they drop!

38.3% have trouble paying their bills on time – and they have the interest charges to prove it.

3% say their bad driving habits have them shelling out for tickets on the regular – we can breathe a sigh of relief for road safety.

Is there a topic you’d like us to write about? Give us a shout in a comment, or visit us on Facebook and Twitter!

Related Topics

Personal Finance / Personal Finance News

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