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Average Adult Commits 8 ‘Financial Fails’ A Month

 

If you ever feel like you’re barely making a dent in paying off your credit card debt, it might be that you’re being more careless than you realize in how you’re managing your money. A recent survey of 2,000 American adults found that the typical person commits an average of 91 “financial fails” per year or eight “financial fails” per month. The most common areas of overspending were eating out instead of cooking at home (54%); online shopping (36%), and buying clothes and shoes (28%). According to the data, the eight “financial fails” per month added up to $315.16 that could have otherwise been saved.

COMMON BAD FINANCIAL DECISIONS

  1. Not saving enough money                           37.70 percent
  2. Getting takeout instead of cooking               31.85 percent
  3. Spending more than I should                       28.80 percent
  4. Buying new outfits                                     22.15 percent
  5. Buying lunch instead of cooking                   21.75 percent
  6. Shopping out of boredom                           20.30 percent
  7. Paying for rarely-used subscriptions              20.00 percent
  8. Paying bills late                                         19.20 percent
  9. Spending more than I earn                          16.25 percent
  10. Getting Ubers/taxis instead of walking           14.10 percent

 

The survey was conducted by market research firm OnePoll in January 2019.