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These bad money habits are keeping you from getting rich

Oct. 1, 2015 CNN Money

“The easiest way to becoming a millionaire for most people besides discipline is automation, priorities and goal setting,” said Cary Carbonaro, a certified financial planner and managing director at United Capital.

Here are financial habits that money experts said can hurt your long-term savings:

Saving only what’s left overĀ 

If your savings plan is socking away whatever money is left over at the end of the month, it’s time to prioritize your budget.

“When you get your paycheck, have a certain amount that goes into a savings or investing account … you never see it,” said Ted Peters, CEO of Bluestone Financial Institutions Fund.

When creating a budget, Peters recommends starting with your savings target. “Set your savings percent for around 7-10% … and then work out the rest and determine your priorities”

Setting and forgetting

Your savings rate should increase throughout your career.

When you get a pay raise, your savings rate should also get bumped up, advised Neil Krishnaswamy, a certified financial planner at Exencial Wealth Advisors in Texas.

Not reviewing your retirement accounts can also be costly. Carbonaro suggested evaluating your plan at least once a year to make sure you’re well balanced.

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