The good news is that you can learn from others' mistakes and break these bad money habits for good to live life on your terms instead of those set by society.
If you've ever seen an episode of Antiques Roadshow, they take items to be appraised, only to discover that they've found a treasure. Most of us don't live in this fantasy. Live below your means.
If you buy things because you think you can afford them, instead of because you need them, you'll find that your bank account or credit union account will be virtually empty in no time.
Budgeting may seem like an unnecessary task when things are going well. But if you don't have a blueprint for your income, it's easier to make decisions on what to do with your cash based on impulse.