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Growing up broke can mean developing habits that can stay with you into adulthood, even if your financial situation improves. While these habits are necessary when growing up, they can be detrimental to your financial growth and stability and possibly your mental health.
Sometimes, we carry these bad habits into adulthood. Some things are not worth keeping. They can do more harm than good. Perhaps it’s time to let them go.
To help identify some of these, we’ve compiled a list of 14 habits you picked up growing up broke you should try to break.
Living in Fear
If you grew up poor, you may be fearful of using your nice things because you’re worried you might ruin them. But, if you’re scared to use those nice things, you’ll never get to enjoy them.
Hoarding Money
Hoarding money may feel like a security blanket if you grew up broke. It means you won’t have to feel the financial insecurity you did as a child.
Living Paycheck to Paycheck
Growing up poor means you probably watched your parents focus on immediate needs instead of long-term goals. This can turn into a habit that causes you to live paycheck to paycheck with no savings to fall back on for emergencies.
Hoarding Food
Many people who grew up poor find that the fear of not having enough to eat causes them to hoard food. But if you have too much, it might go out of date before you eat it.
Avoiding Financial Planning
Children learn by example, and if you grew up in a home without much financial planning, you might avoid it as an adult. But you could miss out on lucrative financial opportunities.
No Control on Spending Habits
It’s easy to fall into the trap of thinking, ‘Now that I can afford it, I’m going to buy everything I couldn’t when I was a child.’ But if you don’t control your spending habits, you could spend your adult years broke, too.
Grabbing Free Items, Even if You Don’t Need Them
Growing up broke often means you have to do without some things. This can develop a mindset of not wanting to miss out on anything, including grabbing free items whenever you can, even if it’s items you don’t need.
Fear of Financial Risks
If you watched your parents struggle with money growing up, you may find you are extra cautious with your finances as an adult. This is often because you fear the consequences of making a financial mistake.
Repurposing Items
If you enjoy crafts, you may enjoy repurposing things. But if you grew up broke, you may try to hang onto things in case you can repurpose or reuse it to save money.
Always Ordering the Cheapest Thing
Growing up broke probably meant eating out was a luxury that didn’t happen very often. This can manifest into an adult who always orders the least expensive thing on the menu, even if you can afford to buy anything you want.
Packing a Cooler Instead of Buying
Even if you can afford to eat out for every meal, if you grew up poor, you may find you still pack food for road trips.
Stocking up on Deals
Many people who grew up broke find they bulk buy things when they find a good deal. But remember, you should only stock up on items you will use, and if they are perishables, don’t buy more than you can use before the expiration date.
Mistrust of Banks
Many people who grew up poor are afraid to use a bank. But banks are FDIC-insured and a perfectly safe place to keep your money. You may even earn interest on your funds.
Saving Leftovers
If you grew up broke, there may have been times when food was scarce, which can cause food insecurity later in life. As a result, you may find it hard to throw away leftovers, even if there’s not much left or a meal you didn’t really enjoy.
18 Ways to Save Without Sacrificing Life and Happiness
Do you want a new perspective on saving money? If you think this is another article telling you to skip your morning coffee or give up dining out, then let us tell you—it’s not! This blog post discusses 18 innovative and painless ways to save cash without sacrificing the things that make you happy. We believe that a good life isn’t about cutting back on everything you love but about making smarter decisions with what you have. So, if you’re ready to start saving without compromising your lifestyle or happiness, dive right in!
15 Smart Tips for Living Well on a Strict Budget
In today’s economy, strict budgeting has become a reality for many, sometimes involuntarily. With fast fashion and rapidly changing trends, temptations are on the rise. Mastering a budgeting mindset can empower a person to manage their finances responsibly. It’s a step towards achieving self-fulfillment while leaving room for some fun.
The 41 Biggest Wastes of Money
If you’re looking for ways to earn more money to put toward your goals, start by examining your spending habits. By tracking your spending and seeing where every dollar goes, you’ll likely find several instances of spending money you don’t have to. It could be little things that add up or recurring monthly expenses that are an utter waste of money. Once you eliminate your bad spending habits, that money can go toward your emergency fund, paying off debt, or other essential things. Here are the 41 biggest wastes of money to look out for.
- Read More: The 41 Biggest Wastes of Money
