Lynda Moore says you can turn money habits that are holding you back into habits delivering the financial ease and freedom you need

It doesn’t matter what area of life we are looking at; habits are what helps us get through the day without having to think through every step and process that we do.  If we had to make every decision from scratch every day, we would be so overwhelmed, we probably wouldn’t be able to get out of bed!

But, like everything, there are some really good habits that improve our quality of life, and some that do the opposite.

I confess, I am a creature of habit, maybe a little too much.  I’m that person who, before I go to bed, I have checked the weather and temperature for the next morning, so I can get the appropriate walking gear out.  Jett’s leads are ready to go, then in the morning we can leap (hopefully) out of bed, and head straight out for our morning walk rain or shine. For me this is a good habit.  It’s good for my health and wellbeing, it’s when I think about my day ahead, and catch up with other dogs and their owners for a chat.

But some of my habits aren’t so good for me, and those are the ones that I work very hard on to change. I’ve had to retrain my brain, and learn new skills to change some of the habits that just weren’t working for me anymore.  Many of those habits that I have worked on over the years and have successfully been able to change have been around money.

Today we are going to dig into some of what I think (and so do a lot of others in the personal finance space) are the top 10 money habits that trip us up.

The first important point to be aware of is you don’t have to be broke to feel stuck. I talk to a lot of families who are earning a steady income, doing all the “right” things… yet somehow, the money always feels a bit tight. The savings account isn’t growing, the credit card balance isn’t shrinking, and every month feels like a bit of a juggle.

If that sounds familiar, you’re not alone—and you’re not doing anything wrong. Often, it’s not the big decisions that trip us up. It’s the small, everyday money habits that sneak in quietly and start to hold us back without us even realising.  Darren Hardy calls it the Compound Effect (he has written the book called The Compound Effect, it’s well worth reading). 

So, let’s shine a light on them. Here are ten sneaky habits I see all the time—the ones that might be getting in the way of the financial ease and freedom you really want for your family.

1. No Safety Net = Stress
Living payday to payday with nothing tucked away for a rainy day? That means every unexpected bill feels like a disaster. Car repair? Ouch. School camp? Panic.

You don’t need to save thousands overnight. Even $20 a week builds up quicker than you think—and gives you a little breathing room, which makes a huge difference.

The amount you need to have tucked away in your ‘stuff happens’ account (I don’t like the term emergency fund) will vary from person to person.  It’s whatever amount gives you some relief and a sense of feeling more secure.  It might be $200, or it might be $5,000. 

2. Looking Rich Instead of Being Secure
We’ve all seen it (or done it): the flashy car, the designer handbag, the big holiday. But if it’s all on credit? That “rich life” comes with a not-so-glamorous monthly repayment.

There’s nothing wrong with nice things. Just make sure they’re not getting in the way of the stuff that really matters—like financial peace of mind.

We hear it all the time, what we see on social media isn’t always real life.  So, before you start to spend your way to social comparison, do a bit of homework on your own values and what is important to you, not what you think it should be. 

3. Using Credit for the Basics
Groceries, fuel, power bills… if these are going on the credit card and not getting paid off, you’re just adding more pressure for future you.

The key point here is, paying the card off in full each month.  There is nothing wrong with using a card if you want to gain the air points or other offers. If you can’t pay the card off, then you need to look at what you are using the card for.

It’s not about blame—it’s about awareness. Can you trim any non-essentials? Rework a few payments? Even small tweaks can help you rebalance.

4. No Budget, No Clarity
I don’t want to budget, it’s restricting, it’s boring, I don’t need to, I earn enough money not to have to.  These are just some of the phrases I hear when I talk about a budget.  I know, I don’t really enjoy the process either but let’s reframe it to a Money Plan. Without one, it’s like trying to drive blindfolded—you might move, but it’s stressful and messy.

Knowing where your money goes = feeling more in control. And that’s a great feeling.

5. Thinking Retirement Is a “Later” Problem
It can be hard in your 20’s to think about retirement, you have so much life in front of you, so saving for retirement gets put on the back burner.

Your 50’s comes around way too fast, and retirement is looming, and you have very little tucked away.

You look back to those earlier days, and think I wish I had thought about it more back then.

Retirement feels far away... until it isn’t. The earlier you start, the less you need to put in to end up with a solid nest egg.

6. Upgrading Stuff That Still Works
That new phone, the latest shoes, the slightly fancier car—tempting, right? But if what you’ve got is doing the job, ask yourself: do I really need the upgrade?

This one also comes down to your values as well as your priorities and where you are right now in life. If you have the surplus income to splurge, great, but if don’t then think twice before you upgrade or replace. Not everything needs replacing the minute a newer version comes out. Especially if it means delaying your bigger goals.

7. Spending on the Kids (Out of Guilt)
We all want to give our kids more than we had—but when every “can I have this?” turns into a yes, things can get a bit expensive.

This can get even more out of control if your relationship breaks down, you buy gifts for your children out of guilt for the relationship ending. There are times that the little darlings can be very good at playing Mum off against Dad when there is something they want.

You’re not a bad parent for saying no. In fact, teaching them about limits, patience, and value is one of the best gifts you can give.

8. Waiting for Your Annual Bonus to Save the Day
The annual bonus is just that, it’s a bonus, and it shouldn’t be an expectation. Particularly in our current economic environment.

If your money plan revolves around that annual lump sum, then you need to look at it and revise to and ask the question what does the plan look like if the bonus doesn’t eventuate? Always have a Plan B!

9. Not Talking About Money With Your Partner
This one is super important, and often the hardest of all the habits to get started on and then be consistent with.

Money can be taboo even with those closest to us.  Money is very easy to argue about, and money conversations can be awkward and difficult if you haven’t done it before.  But staying silent usually causes more tension in the long run.

Set a regular time for a financial date night (or breakfast, or lunch). Pour a cuppa (or a wine), check in on your goals, and make sure you’re on the same page. You’re a team—treat your finances like it.

10. Assuming You’ll “Earn More Later”
It’s easy to think future you will earn more, so spending a little extra now is fine. But that mindset can lead to “lifestyle creep”—where your expenses grow right alongside your income.

This is where paying yourself first is a good habit to set for yourself.  If you don’t pay yourself first, there often isn’t anything left to pay yourself last!

Good habits matter more than a bigger pay check. Because if you can manage money well now, you’ll thrive when you do earn more.

Tiny Changes, Big Wins

Here’s the good news: these habits aren’t set in stone. You’re not “bad with money.” You’re just human.

And once you spot a habit that isn’t serving you, you can start to shift it—one small step at a time.

No need to overhaul everything at once.

So… which of these sounded familiar? And what’s one small change you could try this week? Let me know in the comments.

Let’s take the pressure off and keep things simple. Small tweaks. Big difference.

*Lynda Moore is a Money Mentalist coach and New Zealand’s only certified New Money Story® mentor. Lynda helps you understand why you do the things you do with your money, when we all know we should spend less than we earn. You can contact her here.