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Charles Duhigg’s Guide to Changing Habits comes with his free newsletter along with a great video that summarizes his process for changing habits.

Financial habits are hard to break but my afternoon cookie habit is costing me more than I like to admit. My afternoon trip to Starbucks includes a Grande Peppermint Mocha Latte, extra hot, no foam, with whip – and a package of chocolate covered graham crackers. Total cost: $9.00 including tip.

That’s $45 a week, $180 a month – okay so March has an extra two weekdays bringing the annual total to about $2200. That’s around $22,000 by the time my office lease expires in 10 years (not including any interest or stock market growth – as if…).

Sometimes when I talk about financial habits (and specifically spending habits) with my friends, clients, and workshop participants, some of them shake their heads and tell me, “I don’t know why in the world I do some of the things I do. Sometimes I buy things even though I know I can’t afford them. It just doesn’t make sense.” But actually, if we connect the dots of our financial habits to what matters most to us, it might make perfect sense!

Charles Duhigg, is a reporter at the New York Times and author of a great book, The Power of Habit.  I’ve been reading The Power of Habit on my iPad.

some of them shake their heads and tell me Sometimes I buy things even though I know I can’t afford them.

Charles Duhigg’s Guide to Changing Habits comes with his free newsletter along with a great video that summarizes his process for changing habits. Financial habits are hard to break but my afternoon cookie habit is costing me more than I like to admit.

If you subscribe to Charles Duhigg’s newsletter, you’ll get his Guide to Changing Habits. Here’s the outline to Charles’ video and it also works as a guide to changing financial habits.
The Guide to Changing Financial Habits:

* Identify the routine
* Experiment with rewards
* Isolate the cue
* Have a plan

With those insights about The Power of Habit, I’m going to kick that cookie habit. I guess that means I need to get on the scale so that I can measure the benefits in pounds and dollars.

Source: http://www.articlesbase.com/finance-articles/charles-duhigg-guide-to-financial-habits-5798514.html

Say good-bye to bank fees. That’s something everybody loves to hear and everybody wants to achieve. How much does your bank charge for ATM fees, wire transfer fee, monthly account fees, minimum balance fee, debit card transactions, additional check fee, overdraft fees or return check fees? If you are not certain, then it’s important to take the time to find out exactly what you’re being charged. Banking fees are important to understand and properly address before accruing large amounts of unexplained fees that will likely result in immense frustration and stress. Educating yourself on the fees your bank could potentially charge you will help you to avoid unnecessary spending. Sounds good right? Keep on reading.

Bank fees can lead to a big headache if proper attention is not given. Because bank fees are part of banking and these small fees can accumulate over time, they can add up to a large sum of money when you’re not paying close attention. Awareness is a key factor in avoiding bank fees. The very first step in avoiding unnecessary bank fees is gaining awareness simply by educating yourself. Communicate with your banking associate and they will gladly clarify the details of each and every fee that you may encounter as a customer; this will help you to avoid potential bank fees.

Another way to reduce fees associated with banking is to get out the habit of using your ATM card. Using an ATM machine that does not belong to your bank could cost you anywhere from $1.50 to $3.00 per transaction, depending the policies of the ATM provider. Along with the ATM fees, your bank may also charge a fee in addition to that. Yet another reason to educate yourself on potential fees! Though ATM’s are meant for convenience, mobility and ease in financial transactions, there are fees associated with the benefits they provide. Most banks will not charge fees for those ATM transactions that are carried out on their machines.

Another common way account holders accrue fees is by failing to maintain a minimum balance. Some banks require account holders to keep a certain amount of money in their account and if you fail to do so, it could result in a fee being charged to your account. There are many banks out there that offer accounts that do not require a minimum balance on a monthly basis. A great way to avoid bank fees is by combining your accounts as there are some banks that will waive fees when the accounts are combined.

Non-sufficient funds and penalties for checks are considered to be the most expensive bank fee. In order to avoid these penalties, you need to maintain control over your finances and keep track of transactions that are deposited into and debited from your bank account. Balancing your checkbook on a monthly basis will assist in proper verification of your financial transactions and provide you with an understanding of your spending.

Source: http://www.articlesbase.com/finance-articles/simple-ways-to-limit-your-bank-fees-5617480.html

By Ian Sani

In recent years, the cost of living has increased significantly. People are in need of money every now and then. They are trying to raise money from various sources to meet their daily demands. These days you will find many people are opting for loans from companies, banks and other financial institutions. However, majority of the people who have taken the loan find it difficult to repay the loan amount within the specified loan period and this is the reason why people fall into trap of debts.

Debts can cause much damage to an individual and thus it is very important for a person to consider debt management, as this is the only way to debt relief. You will find lot of valuable information on various online guidance services, which specializes in debt relief programs. These services suggest a systematic procedure for you.

You should try to eliminate the debt as soon as possible and then should try to focus on building your future. Make realistic spending plans and this will surely allow you to achieve your goals.

Planning is very important in case of debt relief. You should plan your expenditure in a way that you should be able to secure your present and your future. You should try to balance your life at both the ends.

Dumping your credit cards becomes necessary if you want to get rid of debts. Credit cards enhances your spending capacity and thus, you spend more than your earn. Credit cards no doubt have advantages but it is also true that these encourage people to spend.  If you are not having a credit card then you will only spend up to a certain level and will never overshoot your budget.

At last, develop a habit of saving money wherever you can and learn to prioritize your expenditure.