Do you find yourself
in a situation where you have a decent job but at the end of the month you have
almost no money in your account?
Little decisions
we make can hurt us financially. As a monthly salary earner, you should be able
to have savings. You shouldn’t be running to loan applications or friends any
time an unexpected financial challenge comes your way.
Below are some things
that make most people broke at the end of the month and tips that can help you become
financially stable with your monthly income;
Unnecessary spending: When you spend too much, you’ll end up being
broke. Know the difference between your need and your want. A need is something
you must have to survive while want is just something you desire to have. Before
buying something, consider the worth and importance at that moment and in the
long run.
You spend more
on valueless things rather than assets. Assets provide benefits in the future, so try an invest in
assets.
Bad Company: Following the wrong crowd can hurt you financially.
If you spend your time with people with expensive lifestyles and you try to copy
their lifestyle you’ll end up in debt especially when you are not as financially
buoyant as them.
You don’t budget: When you write a budget, you plan how your
money is going to be spent during that specific period. Writing a budget prevents
you from spontaneously spending your money which can leave you with no money
You don't save. Saving is a good habit you should try to
adopt. When you save you won’t be indebted because you always have spare cash
to sort out whatever issue that comes your way. So save for a rainy day.
Being financially stable
is important, so spend wisely.
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