7 Bad Habits That Can Cost You Thousands of Dollars a Year

Have you heard of the "latte factor?"

Popularized by author David Bach, it refers to the idea that if you indulge in a $5 store-bought latte every workday, you'll drink up more than $1,200 a year. Ouch!

The idea is that spending on little things can add up -- and the problem is especially troublesome if those "little things" represent bad habits.

If you're spending an extra $5 a week on groceries because you've decided to buy more fresh produce, your money is at least going towards a lifestyle improvement. But if you're blowing your cash on bad habits, it's time to think twice.

After all, wasting even $5 a day means you're not doing better things with that money -- like saving it for retirement, health care costs or a vacation.

Here are seven other ways your bad habits could be costing you thousands of dollars or more every year:

Paula Pant ditched her 9-to-5 job in 2008. She's traveled to 30 countries, owns six rental units and runs a business from her laptop. Her blog, Afford Anything, is a gathering spot for rebels who refuse to say, "I can't afford it." Visit Afford Anything to learn how to shatter limits and live life on your own terms.

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