MBT Bank Blog

Home MBT Bank Blog

Be Good for Santa and Yourself: Costly Bad Habits to Kick

Quit these bad habits to save money and be better to your body

Santa frowns upon wasteful spending, ya know.

We all have bad habits. Maybe we sleep through our alarm each morning, or bite our fingernails. However, there are also some bad habits that cost money. Moreover, a lot of these habits aren’t good for our health either.

With the New Year approaching and many of us looking to kick bad habits and save money, MBT Bank came up with some of the most common habits people are looking to shed. We’ve also provided some numbers to show you how much you’re saving by not indulging these habits any longer. 

  1. Smoking- the average for a pack of cigarettes is right around $6 in Iowa. If you smoke a pack a day, that leaves you feeling $2,190 lighter in the wallet. The premium for your health care and life insurance policies will also be higher, and you will probably have to pay more out of pocket for medical expenses. Then there’s also the positive health effects you feel when you quit smoking.
  2. Alcohol in excess- if you figure $6 a drink at five drinks per week, you’re looking at $1,560 by the end of the year. However, if you get caught drinking and driving, you’re out at least another $10,000. By reducing alcohol consumption, you save money and live healthier.
  3. Eating out at restaurants- let’s say you spend $100 a month eating out at restaurants; that’s $1,200 a year. Restaurant food generally isn’t healthy either. A study by George Washington University in Washington D.C. estimated that being obese costs $2,646 annually for men and $4,879 for women. Reduce your restaurant bills and keep your waistline from expanding.
  4. Overspending- our brains are wired to love spending money. The savings rate in the United States is whopping 2.5 percent according to the Bureau of Economic Analysis. That means most of us are overspending every month. Going over your budget by $100 every month results in $1,200 more spent a year. 

Improving health and saving money are the two most popular resolutions every year. By taking care of the things on this list, you are saving more money and keeping yourself healthier.

If there’s any way MBT Bank can help you get your finances in order at the end f this year or into 2015, be sure to stop by our nrearest office. We hope to see you soon!

MBT Bank, member FDIC