Have you ever observed that If you have large bills in your wallet, you're less likely to spend than if you're carrying around fives and tens. This is so true....
Hello steemians, welcome to my blog once again... here are money mistakes we all make and some tips to overcome them đ° đ° đ°
Donât ever spend money that you are yet to receive. If someone tells you âhey, see me next week and pick up $20", donât start buying stuffs on credit based on that promise hoping to pay with the money when it finally comes. You might be disappointed because the money may not come and you will end up in debt and will surely have problems with creditors.
If you have the opportunity to meet a wealthy and successful person, donât go asking for money, ask for ideas instead. âdonât ask for fish, let them teach you how to fishâ. They may chose to give you money if they see you have the zeal to work hard ⊠.
Donât spend more than you earn. âItâs like having a drum where the inlet is smaller than the outlet. It will never get full and if the inlet reduces for any reason, the drum will run dryâ. Always have a side job asides your main job, it could be something you love like painting or repairing stuffs for money.
Donât keep your seed instead of planting it. Most people just stop at saving, when you save, your savings is the seed, plant it by investing. When you save money for a long time, you end up using it. Research on different investments that you can use to grow your money.
Only spend on things that you really need. Before opening your wallet to buy something, ask yourself âwhat will happen if I donât buy thisâ. Donât spend money on items you can do without.
Always save and if you want to save, whenever you receive money, donât start spending it hoping you will save the remainder, you might end up using all of it. Always remove your savings first because as long as the money is available, numerous things to spend it on are also available. Have you noticed that whenever you donât have money to spend, you find a way to do without some things naturally. Itâs also good to join an investment club so once you send the money there, you can relax knowing that it is not longer within your reach.
Always avoid keeping money you donât intend to use any time soon within easy reach. For example, if you plan to spend #10,000 for the day, donât walk with #50 000 in your pocket or wallet, keep the excess away from you.
Donât ever lend someone money you are not willing to lose. Just have it somewhere in your head and heart that the person might fail to pay so wonât end up depending so much on the money.
If you want to start a business , donât borrow money that accrues interest. This is important because the business may not go as planned.....
Donât ever stand as a surety for someone when you canât pay. That is, never append your signature to guarantee anyone on a financial matter if you are not financially stable. This act can send you to an early grave.... Avoid it
Paying an amount for something thatâs not the minimum you can get that same value for. For example, if you pay #10,000 for a shirt đ in shop A when you can get it for #5,000 at shop D. For me, this is a money mistake except for those that have achieved financial freedom.
Always thinking of today and forgetting about tomorrow or always thinking about tomorrow and forgetting about today (thinking about short-term and forgetting about long-term and vise versa). Itâs just like saving money for a long time and you end up buying 20 plots of land And end up broke, not having money to pay your bills but you have 20 plots of land, so both the present and future should be given same attention .
Letâs take our finances seriously. How many of these mistakes are you guilty of? Do you think you can do better with these tips?... I know you can so Good luck....
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