Break bad money habits with pros’ tips

From ditching debt to paying bills on time, fiscally savvy folks have developed good habits and plans that keep them in financial shape. And with a little effort, you too can master their tricks for managing money. If you’re looking to break bad money habits and get on more solid financial footing, follow these fiscal tips from the pros.

• Have a written budget: When you have a written budget, you see exactly where your money is going. Best of all, you can direct your money where you want it to go. You get to decide what you want to save and how much you will spend on expenses such as groceries.

• Pay your bills on time: Late bill payments are serious budget busters. Fortunately, there are ways to ensure bills are paid on time. Setting up automatic payments is one of the many successful habits employed by financial pros. You can also set up alerts on your phone or use a calendar on the wall to note due dates.

• Avoid immediate satisfaction: It can be tempting when you are shopping to pick up that new bag or those cute shoes. However, do you need them? Will buying them truly make you happy? Why do you feel you want to buy them?

One of the best financial habits to use is the 24-hour rule. Go home, think about the item and check your budget. If 24 hours later you still really want it and can afford it, go ahead and spend the cash.

• Do not use credit cards: Sticking with cash will ensure you never spend more than you have budgeted because it is impossible to do so.