These are some common habits that affect your finances
Taking care of your finances can be really annoying but necessary right? We all want to be rich at some point in our lives but, are we being realistic and establishing plans and goals? I consider this to be what separates the wise from the dumb. Why? For the obvious reason that planning always leads to success.
Now, part of planning and organizing your finances is to identify the mistakes you have been making so far. We are only human right? So, these are the mistakes I want you to analyze if you are making them so that you can take action and stop!
Letting your bills accumulate
This is something I just KNOW we have all done. I mean some of the excuses for this happening are actually valid but, most of the time we can prevent this from happening.
Make yourself a budget so that you can know how much money you can actually spend
One of the things you may be doing that leads to this happening is that you are spending more than you are earning so, make yourself a budget so that you can know how much money you can actually spend and set apart money to pay off your bills. This way, it is basically impossible for you to pile up so many bills.
Having no back up money plans
This happened to me many times and none of them were pretty. Imagine, you need to pay off some money you owe to a vendor and you didn’t make a budget and therefore you spent more money than you could. Now, that is not your vendor’s problem! You still need to pay them so, what do you do? You ask a friend or relative for money and that means more debt.
So, you can clearly see why it is so important to always have a plan b when it comes to money as you never know when an emergency may arise.
Paying your credit cards late!
We all want our credit history to be the best right? How do you expect this to happen if you are not paying your bills on time? This is a big no-no for banks!