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Queen of Free: How to quit bad financial habits

The first step to breaking bad habits is to believe you can take better control of your money and make changes to how you spend your money.

INDIANAPOLIS — January is typically when we think about fresh starts and new beginnings. Cherie Lowe, the Queen of Free talked about changing your spending habits on 13Sunrise and in her blog to help you transform your finances.

The first step is to believe you can take better control of your money and make changes to the way you spend your money.

There is no easy fix to losing weight or paying off debt. "It requires time and intentionality," Lowe said. "The process is basic – make more money, spend less, and be smart about how you tackle things.

One place to start is to quit subscribing to something you rarely use. "Whether it’s a gym membership, a magazine, or the ever-growing online streaming services, you can’t have it all," Lowe said. "Hit 'cancel' to get some automatic breathing room." 

Changing your lifestyle will impact your finances, and that does not necessarily mean you will have to make constant sacrifices. Buy generic instead of a name brand is another small gain you can add to your bottom line.

Cook. At. Home. "A lot of us have become too dependent on the luxury of the drive through and delivery," Lowe said. Instead, she recommends pausing the expensive habit of eating out by planning meals at home and shopping grocery store bargains.

Who you listen to will also influence your spending. If you surround yourself with friends and co-workers who follow bad habits, you will tend to follow their bad advice and fall into similar bad habits.  

Changing your bad habits may challenge and stretch you, "But it’s worth it for what you can gain," Lowe said.

Watch the Queen's full 13Sunrise segment in the video player.

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