Anger. You let emotions control the way you handle money–you spend when you’re happy, sad, angry, or bored. Don’t make any financial decisions when your emotions are running high.
Envy. You’re constantly trying to keep up with the Joneses. If you’re a stay-at-home mom, it’s doubtful you need to run errands in four-inch Christian Louboutin shoes and carry a $2,000 Birkin bag. Live below your means.
Gluttony. It doesn’t matter what it is–you just keep buying things. Even if you don’t need it, you’re quick to pull out your wallet and swipe your credit card. If you have clothes hanging in your closet with price tags still attached to them, there’s a problem. Step away from the cash register.
Greed. Your desire for more overtakes you. You feel compelled to purchase a Coach bag in every color.
Lust. Temptation leads you to give in to detrimental financial behavior. Don’t fantasize about raiding your savings account to buy the latest car or that diamond watch you’ve been eyeing.
Pride. You’re deep in debt and heading for trouble, but refuse to ask for help. Call your credit card company right now and tell them that you’re having trouble keeping up with payments. They might be able to work out a payment plan, lower your interest rate, or both.
Sloth. You’re messy when it comes to tracking your money. Maintaining a mental list of your financial responsibilities won’t cut it. Write down or develop a spreadsheet with how much is coming in to and going out of your pockets. Every dollar should be accounted for.