Comments on: Wealth Banes: 3 Habits That Will Ruin Your Finances

By: ctreit

ctreit — Sun, 31 May 2009 09:34:01 +0000

As I am reading through this post again, I realize that all three of these habits are addictive. All three can give you a rush and a short-term feeling of exhilaration whose long-term consequences can be disastrous though.

By: TStrump

TStrump — Thu, 28 May 2009 05:42:29 +0000

While I don’t abuse alcohol, I sure do waste a lot of money each month.
As a matter of fact, I spent $60 last night and felt terrible the next day.
I’ve also seen the effects of drug abuse on some talented people – their lives are wasted.

By: David Stillwagon

David Stillwagon — Wed, 27 May 2009 18:29:49 +0000

Unfortunately we live in a society where enough is never enough. From an early age children are bombarded with advertisements about things that they have to have. As they get older it never lets up, they are programmed to buy and buy no matter what their financial situation is.

By: DDFD

DDFD — Wed, 27 May 2009 12:27:04 +0000

Great advice!

Many of my coworkers are big overspenders– they are so over-extended right now it isn’t funny . . .

As for gambling, it sounds like you take my approach– a trip to a casino is entertainment that needs a budget. How long can I entertain myself on this $60 before it is gone?

Alcohol, like anything else needs to be consumed in moderation.

By: Ryan P Smith

Ryan P Smith — Tue, 26 May 2009 22:25:02 +0000

Having riskier investments or being less diversified than you should ought be classified under the gambling rule….

By: craig

craig — Tue, 26 May 2009 19:07:04 +0000

I like your policy on gambling and although I barely ever am at a casino, try to have a similar limit. When setting the limits and having the will power to walk away you can have fun, the adrenaline rush and not go crazy.

By: Matt Jabs

Matt Jabs — Tue, 26 May 2009 14:22:30 +0000

Drinking leads to overspending & is closely linked to gambling.

Up until the end of 2008 I was drinking more than I should. I no longer drink at all. I never gambled, but I did overspend and I found that I overspent more while drinking.

Besides costing a lot of money directly, drinking also indirectly leads to bad financial decisions. When intoxicated all decision making abilities are affected, so it makes sense that avoiding intoxicating beverages will ultimately be a sound financial decision! I am speaking from experience.

Excellent points Pinyo.

By: Ron

Ron — Tue, 26 May 2009 12:45:36 +0000

Great advice. I’ve never even been tempted by the allure of gambling and alcohol/drugs have no appeal to me either, though I do drink here and there.

Overspending? That’s MY problem in a nutshell.

By: Mike

Mike — Tue, 26 May 2009 03:14:13 +0000

Your Dad had some wise words – I think all three of those things are bad if you don’t keep them in moderation.