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Since studies show that it takes about 3 weeks to form or break a habit, this can be a great opportunity to form some good financial habits or break some bad ones. Here are 7 financial vices or luxuries to consider giving up for Lent:

Smoking: At the very least, you may eventually be able to pay lower premiums on life, health, and long-term care insurance.

Eating junk food: This means not just sweets but fast food, soda and other sugary drinks. While cutting out all junk food may not be sustainable forever, you may be surprised by how little you miss it after the first week or so.

Dining out: This includes your morning stop at at Starbucks, lunch out at work, and drinks at the bar afterwards.

Buying with plastic: People tend to spend more when they use debit or credit cards instead of paper bills.

Paying full price: Try to only buy things that you can get a discount on. After a while, you’ll wonder why you ever paid full price for anything.

Wasting time: Can you use some of your free time to make some extra money on the side? Don’t just think of traditional part-time jobs. Be creative.

Hoarding: Even if you don’t have any time to spare, you probably have possessions that you don’t really need or even want any more. In the spirit of Lent, donate anything you don’t sell to charity.

(Reference: Forbes Magazine)