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7 People Who Are Always Broke

You don't need a new car when someone else gets one, and just because a phone has new features, doesn't mean they'll benefit you.

It's all well and good that you can use your phone as a projector, but have you used that function? Stop keeping up with the Jones, and save for your own future.

2 – People Who Never Pay on Time

Every bill you pay late adds an additional fee; this is pretty much universal anywhere. Your phone, utilities, mortgage, credit card bills – they all charge fees for tardiness. Even stretching out your loan to the maximum term limits in order to pay as little as possible is a terrible idea; a 30-year mortgage, for example, will more than double the ticket price of your house.

"A person with a great credit score may qualify for a mortgage at a 4% rate versus 5% for someone who has not managed their credit as prudently," says Tillman of Empire Wealth Management. "This 1% difference in rate results in an additional $150 a month payment and an additional $53,000 in interest over the course of a 30-year loan."

If you're going to procrastinate, bills are not the place to do it. On top of all that, the credit reports will show you're always late, and you'll pay higher interest rates (if you can even secure credit). Punctuality removes many financial obstacles.

"The best way to tackle this problem is to get organized," Tillman said. "Create a systematic way that works for you to stay on top of your payments and when they're due." There are a variety of free apps that send financial reminders to your phone. You can also manually input the info into a spreadsheet or balance your checkbook with pen and paper. How you do it is up to you, but get punctual, slacker!

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