How to break bad financial habits

LIVING an independent life means you need to earn money to sustain your needs and wants.

Receiving your monthly salary seems to be a one-day reward knowing you can splurge it on impulse buys or use it to pay off existing debts.

Perhaps you can’t get a grip on your finances if you’ll just continue committing the same

Much worse, repeated actions can turn into habits that can lead

However, New York Times business writer and The Power of Habit author Charles Duhigg said it’s never too late to end a habit for it is “malleable” in your entire life.

CNBC International’s personal

out some unwanted financial habits and ways to eradicate them. “You lack the budget”, she said, “that’s a habit you unconsciously do.”

You may feel “old-fashioned”

that a “budget is essential.”

- cuses as to why you don’t have a budget, Elias Janetis, founder and CEO of Squeeze.com warranted that there’s no good defense in justifying the absence of a budget in your everyday life.

To combat this, regularly review expenses as what Steward

- ner Todd Hoffman instructed.

In addition, you can avoid “getting too far off track” with the aid of a prepared budget. Dealing with budget preparation and allocation can determine

falling short of funds. After all, budgeting is also about purchasing items in order of importance, need, and value.

shopping without a list is a bad

leads to impulse spending.

Spur- of- the- moment purchases can curb your salary and negatively affect your savings. Tolerating this habit will ruin your budget in the long run.

You can’t just list shopping acquisitions without having to deal with budgeting. Budgeting comes

Comparing prices can also help when listing down low-cost and economical items. If you plan to subscribe to recurring services like an internet and cable

than the previous month’s 5.7 percent.

The result— the highest since the 6.6 percent recorded in March 2009—brought

the Bangko Sentral ng target for 2018.

Analysts traced the peso’s weakness to the

Pilipinas’

2.0- 4.0

- nancial troubles in Argentina and Turkey with the latest worry that of South Africa’s having slipped into recession.

[and] that is driving currency weakness amid volatile global environment,” ANZ Research economist Shashank Mendiratta said.

Bank of the Philippine Islands Vice-President and lead economist Emilio Neri Jr. said the local currency had tracked the movement of most emerging market (EM) currencies.

“No surprises as most EM currencies have been under pressure since yesterday (Tuesday) and continue to be under pressure today (Wednesday),” he said.

Neri added that “a number of currencies in the Asian region were actually trading at or very close to all-time lows” early Wednesday.

Investors are worried that problems in emerging markets could spread and selling pressures on EM currencies is the US economy’s continuing strength, which has prompted the Federal Reserve to raise interest rates and subsequent fund placement shifts by investors looking for better and safer returns.

Among the EM currencies that have plunged in recent weeks, in addition to the Argentine connection, select the one that is cheap but has good reviews. You can also check out comparison websites like MoneyMax. - tions and prices.

Simply put, listing down items and services to purchase is all

NerdWallet staff writer Kevin Voigt said using a credit card is like using “free money.” He explained that a credit card is the root of bad money habits – and you should get rid of them before your credit card shoots you at the foot.

It’s not to refrain you from using your credit card. It’s just to remind you to use it responsibly so you won’t accrue penalties and charges.

You have the choice to leave your credit card at home to battle the temptation of a swift credit card swipe. For regular purchases like groceries and gas, use cash or your debit card instead. This also applies to daily purchases.

Repeatedly saying that it’s hard to save money needs to stop, Voigt suggested. You habitually convince yourself that 10% of your salary needs to be saved. But at the end of the month, you barely manage to succeed because you keep on complaining.

“Old habits die hard, and one of the oldest habits is using checks to pay bills or make savings deposits,” Voigt claimed. Going back to this practice will unleash good money habits in you.

Saving money is a basic rule in

that you always need to reward yourself. Wait and see the result of saving money in the forthcoming years and your diligence will soon pay off.

These may be awful habits but there are solutions to end them.

- its will demand you time and ef-

you may receive in the long run. peso and the Turkish lira, are the Indian rupee—sitting at a record low—and the Indonesian rupiah that has fallen to level last seen

The EM fright has extended to equities, with investors already on edge over uncertainties over US President Donald Trump’s trade rows with China and Canada.

Jakarta led a sell-off in EM equities, diving four percent on Wednesday. Hong Kong shed 2.6 percent and Shanghai fell 1.7 percent, while Singapore gave up 1.2 percent and Seoul dipped more than 1 percent. Sydney fell one percent and Tokyo ended 0.5 percent lower.

For Manila, Regina Capital Development Corp. head of sales Luis Limlingan said that Wednesday’s plunge was primarily due to

fears that the BSP’s policymaking Monetary Board would again hike interest rates as early as this month.

Limlingan said latest inflation figures pointed to another 50-basis point rate hike during the next Monetary Board meeting on September 27.

Pangan shared the same view, saying a 50-bps rate increase—which would bring year- todate adjustments to a total of 150 bps—was possible.

to expect a rate hike,” Pangan said.

All sectoral indices ended in the red on

2.81 percent.

More than 1.69 billion issues valued at P5.8 billion changed hands.

Decliners beat advancers, 146 to 51, while 38 issues were unchanged.