Grab a cup of coffee because this video might make you uncomfortable.

Don’t feel attacked, I’m only trying to help you out. So here are 5 bad spending habits that will hurt your financial independence, retire early plans.

1. Unnecessary subscriptions: Yes, I am referring to your gym membership and other online subscriptions you do not need after 7 days. This year’s plan was to keep fit but you know damn well that you have not gone close to the gym after day 1. But you feel justified just for having a membership card. That’s about $60 a month and $720 a year for a service you don’t use. If you really want to exercise, then take up walking, jogging, heck even working out at home using YouTube videos will do the job.
2. Spending More For Free Shipping: I  totally understand why you might want to spend a little more in order to get free shipping for your online orders. But don’t do it, no matter how tempting it is. What you can do is, check websites such as Freeshipping.org for free shipping coupon codes, see if the retailer offers free shipping to its locations nearer to you or look for a similar product from a retailer with free shipping.
3. Grocery Shopping Without a List: I am by no way, questioning your level of retention but if you don’t take a shopping list with you to store, then you might end up buying things you already have or perishables that you won’t have time to prepare. Or worse, you might even forget to buy the things you need and have to go back to the store. This happens to me all the time.
4. Keeping Up With the Joneses: It’s very easy to fall into the trap of spending more to keep up with what the people around you are buying. Life is not a competition, so relax, you are not getting a Grammy for outspending the next guy. That goes from sending your kids to a private school to buying a new car you can’t afford. Instead of keeping up with others, you should set your own unique financial goals that align with your values and stop trying to impress others by plunging yourself into debt.
5. Being loyal to brands: As crazy as this sounds, no brand cares for your financial freedom when designing an expensive new dress, so instead of being a brand addict, why not be loyal to yourself first and your wallet. They are a business and only want to separate you from your money. So instead of flying the flag high for your favorite brand and staying broke, why not create your own style around what you can afford?

These are just a few bad habits we are all guilty of. Imagine how much more your investment portfolio or savings will grow if you worked on getting rid of these habits. Please like, share and subscribe if you found this video useful and also leave your comments below on what bad spending habits you are struggling to get rid of.