These 3 Big Money Mistakes Are Keeping You Stuck

Hi everyone! My name is Debbie, and I’m your money coach. Today, I want to talk about some habits that you might not even realize are sabotaging your financial progress and mindset. 

In the financial world, a lot of emphasis is put on budgeting. Don’t get me wrong — having a budget is essential, and you need a plan.

But, if you're relying solely on a budget to fix your finances without addressing your mindset around money, you’re in for a rude awakening. A budget alone won’t solve the deeper issues that might be holding you back.

Sure, creating a budget is straightforward. You can easily find tutorials, even on my YouTube channel, where I walk you through it step by step. But at the end of the day, it’s just numbers on paper.

It’s like the Matrix — you can have the red pill or the blue pill, but if you don’t work on your mindset, no plan or budget will fix your financial stress.

Let’s dive into three common money mistakes that might be contributing to why you feel stuck and stressed about money. If you're already feeling weighed down by your financial situation, these habits will only make things worse.

They can damage your confidence, impact your self-esteem, and even affect how you show up in your career, business, and personal life. Let’s break these down.

1. Constantly checking your bank accounts and credit cards

One habit that can keep you stuck is constantly checking your bank accounts and credit card balances. This comes from a place of scarcity — a mindset of lack. 

When you constantly feel the need to check your account, you're subconsciously telling yourself, "I don’t have enough."

Each time you log in, you reinforce feelings of stress and anxiety, wondering if a check will bounce or if you’ll have enough to cover upcoming expenses.

This habit can make you feel stuck for years because it keeps you focused on what's missing rather than what’s possible. It's a vicious cycle that prevents you from thinking long-term or strategically about your money. 

Breaking free from this requires you to trust your financial systems and your plan—rather than feeding into the scarcity mindset by obsessively checking your balances.

2. Overloading on credit card and bank alerts

I get it — alerts can help you keep an eye on your spending and prevent fraud. But there’s a point where they do more harm than good. For example, I had a client who received alerts from her credit card for every single purchase.

She’d get a notification for a transaction on her Discover card, and then another alert when the payment came through her bank account. This meant two alerts for every single transaction.

This constant reminder of money going out can become overwhelming. It’s like getting hit over the head with the fact that you’re always spending. Instead of feeling like you’re in control of your finances, you feel constantly reminded of lack. 

While alerts are helpful in moderation, too many can create a feeling of being financially stuck, no matter how much you earn. They keep you in a reactive state, focusing on the money leaving your account, rather than empowering you to plan and move forward with confidence.

3. Retail therapy as an emotional crutch

Let’s be honest, we’ve all turned to retail therapy at some point. It’s tempting, especially after a rough day, to buy something to make yourself feel better.

But there’s a big difference between doing something healthy to reset your mood — like going for a walk, spending time with loved ones, or practicing mindfulness — and spending money you don’t have just to feel better.

Retail therapy is what I call the "hamster wheel of financial stress." Imagine you’re already in credit card debt, and you’re stressed. So, you go shopping to feel better. You buy something, and for a moment, you feel great — you treated yourself! 

But then, the bill arrives, and reality hits. You’re now deeper in debt, feeling even worse than before. Every time you turn to retail therapy, you’re adding to the very stress you’re trying to escape.

Instead of buying something to fix a bad day, focus on what you can do for free to lift your mood. Go for a walk, meditate, spend time outside — anything that doesn’t involve spending.

Trust me, breaking this habit will free you from that hamster wheel and lead you toward true financial stability.

Spending habits to break common money mistakes 

These three habits might seem small, but they can have a huge impact on your financial confidence and overall mindset. If any of this resonates with you, I’d love to hear about it in the comments. Let’s start a conversation!

Next, check out my post on How to Get Out of Debt: 7 Reasons to Only Use Cash.