We know we shouldn’t do it, it’s bad for our financial health, yet we still do it. What am I talking about? I’m talking about financial junk food. Financial junk food looks different to each individual. For some it’s overspending on credit cards, for others it’s playing the lottery, or it can be eating out too much. Whatever it is we always go back to our junk food even though it makes us sick and financially unhealthy. Who better than Homer Simpson to illustrate the impact financial junk food has on our lives.
Even though we know we need to stay away from the financial junk that is harming us, we always go back to it. Why? Mostly because that is what we are comfortable with. But by doing so we also settle for a mediocre life. What if instead we got off the financial junk food and started to eat a healthy financial diet of spending less than we made, paid off our debt, save money for the future, and lived long-term instead of the moment? There is no telling what we could accomplish.
What about you? What is your financial junk food?