1

THIS month is Stoptober – when smokers up and down the country are encouraged to quit the habit for good.

But why not also quit any nasty financial habits you’ve picked up?

“This Stoptober is a great opportunity to stub out your worst financial habits,” said Sarah Coles, a personal finance analyst at Hargreaves Lansdown.

Sarah warned that some habits might have become so ingrained that you don’t even notice them.

So what are the warning signs and how can you quit bad financial habits for good? Here, Sarah shares her expert insights and advice... Casually dipping into debt You don’t have to go terribly overdrawn for long for this to start making a big dent in your finances. How to cure the habit: If you regularly dip into your overdraft, draw up a household budget and identify the regular costs you can cut. This may mean shopping around on essential bills and groceries, or cutting out things you don’t get much value from, such as gym membership or expensive Kicking bad habits such as only making the minimum payment on your credit cards each month could be the key to changing your financial fortunes