Financial hardship, it can happen to anyone, but is it something we can avoid?

Financial hardship is something, that with a bit of planning, you can reduce the impact of, so it doesn’t impact your family as much.

Whilst many people leave things until it is too late, there is no time like the present to make these changes in your everyday life. It is possible to get some extra money behind you without having to sacrifice too much from your everyday life.

Here are 5 bad habits, which are costing you thousands.


Habit 1: The water obsession
According to Mozo, Australians are spending $1.9 billion on bottle water a year. Yes, $1.9 billion!

You might be buying bottled water every week or even every day. This is a bad habit you should kick, and you can kick with ease.

You can by a BPA Free water bottle with an inbuilt filter for around $20, this is reusable and can give you the same water as what you are getting in bottled water. In fact, some companies take their water from the tap, so it’s exactly the same.

If you are a daily water buyer, this change could save you $887.40 a year!


Habit 2: The impulse spending
How many of us have been at the supermarket and have bought chocolate, or something we didn’t need just because we wanted it? I expect everyone reading this blog will have their hands up right now. Whilst this has been said, many times, make sure you do not go grocery shopping on an empty stomach.

But, impulse spending isn’t just relegated to the supermarket, how about those shoes you never wear, those pants sitting your wardrobe, or those gadgets you never use.

We’ve recently written a blog about resisting the urge to splurge, check it out here.

Reducing the urge to impulse shop could save you thousands of dollars throughout the year and save you from experiencing further financial hardship.


Habit 3: The daily coffee run
Yes, we covered bottle water, but we will also attack the other big liquid. Coffee. Buying a coffee every single day on your way to work is costing you big time. $861.30 in a working year to be precise.

We would never suggest a complete cold turkey when it comes to caffeine, try and limit your intake. If you cut it down to just 2 coffees a week, you could save $519.75 every single year.


Habit 4: Not comparing your bills
Things change every year, your consumption, the competition within the marketplace, everything. It’s important every single year you compare your services and make sure you are really getting the best deals on your utilities, bills, everything.

Did you know disconnecting your home phone could save you $420 a year?


Habit 5: Making too many decisions
Trying to juggle your finances is hard, and when you are stuck with a hundred different bills to pay it could be costing you money.

How often have you discovered you have paid a bill late, or forgot about a bill entirely until you receive a final notice?

Automation, and getting someone to help, could be the difference between sink or swim when it comes to your finances. There are a number of hands on support services out there which can assist you with the automation and management of your finances.


If you kick the habits we suggested above, you will find yourself with approximately $1827.15 in spare change every single year. Think about everything you could do with that money!


It’s hard to get your finances under control and keep them under control. Poor money management could mean financial hardship for you and your family. By taking charge and acting to get these five bad habits under control you could be setting yourself up for a better financial future.