Vincent Chan identifies bad money habits keeping people poor, suggests ways to improve savings. positive

From Yahoo Finance: 2025-05-23 16:30:00

Vincent Chan highlights five bad money habits that keep people poor, leading to inadequate savings for retirement. He suggests following the 80/20 rule, saving at least 20% of income, and investing early and often like Warren Buffett. Chan warns against credit card debt compounding, advising to pay off balances monthly. Monitoring expenses, boosting income, and seeking financial advice can improve savings rates above the average 4.6%. By avoiding bad money habits and prioritizing financial wellness, individuals can secure a better financial future.



Read more at Yahoo Finance: ‘The Average Savings Rate In The U.S. Is 4.6%’