It takes hard work to get ahead these days. Some would say it’s even harder than our parents had it. Although that’s up for argument these three things are not. If you’re complaining about your money then maybe you’re making one of these mistakes. If one of these sound like you then you need to fix it now.
1- Being stubborn and not sacrificing
Maybe you want that brand new 65 inch smart TV with HDR or maybe it’s that brand new Beamer that you’ve been eyeing. It could even be that home you want to rent or maybe you want to buy it. You can think to yourself it’ll be a great investment, but can you really afford it?
Just because you can buy something doesn’t mean you can actually afford it. That can be a hard thing to grap for some people. They think that if you can buy it then you can afford it. That’s so wrong it’s ridiculous.
You don’t need to live in the most prestigious neighborhood in the area. You don’t need the nicest car you can get with an approved loan. You don’t need that brand new TV. If you can just sacrifice a little here and there and instead save that money for retirement you’ll be doing so much better when you get older.
It’ll make life so much easier when you’re just too old to have to deal with problems anymore. Don’t cheat yourself and sacrifice while you’re young otherwise you may have to sacrifice a lot more than you want to when you’re older.
2- Spending more when you make more
Who doesn’t like making more money? Not anyone I know. The problem though is that when you start making more money some people start spending more of that money on things they couldn’t afford.
This might seem fine, and it is in moderation, but if you’re spending more on things regularly then you’re not saving more. If you’re not saving more then it’s almost like you never really got that raise in the first place.
You might be playing with more toys, and maybe now you can “afford” to buy that new car, but do you really need to keep up with the joneses? If you want to be smart about your money they you need to make sure that you’re saving more when you make more. Otherwise you’re making a big mistake.
3- You don’t ask for help
You might think you know everything about money because you were so smart in school and you have a great job that pays well. Or maybe you just don’t know if you’re good with money but you don’t care to ask for help.
One of the biggest mistakes you can make is not asking for money advice early in life. If you’re reading this blog and others like it then more than likely you care about your finances and you want to improve them. Reading and researching is a form of self help. You can’t just sit idly by thinking everything will be just fine.
I love finances and I’m always looking for ways to get ahead, so I’m constantly reading anything that might help me in any way. Whether it’s a new stock or a new bank account bonus I’m going to figure out whether it would benefit me in any way. And if it will, then I’m going to take advantage of it.
If you don’t want to do the work yourself that’s fine, but do yourself a favor and find someone else to help you with your finances. There’s absolutely no reason why you shouldn’t seek advice.