6 Toxic Money Habits
6 Toxic Money Habits Dave Ramsey, Suze Orman and Other Experts Want You To Avoid
Brooke Barley Sat, January 11, 2025 GOBankingRates
Getting better with money can be as simple as avoiding some behaviors that can wreak havoc on finances. Experts like Dave Ramsey and Suze Orman have built careers giving advice on how to manage money. They have made empires and helped others do the same.
Here’s what Ramsey, Orman and some of the other top money minds have said when it comes to money habits that need to be broken immediately.
Not Talking About Money
A big money mistake people make? Not talking about it at all. That’s according to Ramit Sethi, self-made millionaire and star of the Netflix show “How to Get Rich.” He’s explained in the past that if people aren’t being open about where their finances stand — at least with themselves — they won’t improve.
“How can you expect to get ahead if you’re not actually talking about money, either solo or with a partner?” he said on X. “Money is a regular topic in any financially successful household.”
Being Prideful, Greedy or Fearful
Radio personality and money expert Ramsey advised that pride, greed and fear will make a person broke. He backs this up by saying he’s been all three and lost money in the process. When describing pride, he said that it’s not worth spending money on things just to earn accolades or attention. “Would I buy this if no one ever saw it? That’s your test on the pride button,” Ramsey explained.
Earning money simply for the sake of it is greedy and Ramsey advised against that behavior. “You can have a money motivation to the exclusion of other things. But if your only button to push is money, that’s greed,” he said in an Instagram video clip.
Fear manifests as desperation according to Ramsey and he considers this the worst thing to be when it comes to money. “Just about twenty seconds later after I get desperate, I get stupid,” he added. “And right after I get stupid, I get broke, right?”
Not Questioning Your Family’s Money Philosophies
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