Continuing Debt – In the previous article – 05 ways to not get out of debt Sometimes the simple lack of proper planning makes people sabotage their own efforts to have a financially organized life. Without financial education bad habits and indiscipline leads to futile and unnecessary spending.
If you are trying to create financial restraint projects but in practice, your earnings and earnings are not helping with what was planned, it is possible that the way you are dealing with your money is out of context.
And I go further, maybe you are the source of your spending and spending problems that are undermining your economy and making your money go bad. The good news is that this is more common than we think and has a solution. Let us then go to the missing points:
# 6 – Take Loan to Save “What’s Left”
Many people want to save money but simply do not know how to do it. Most of the time the solution is under the nose itself, but it is difficult to see. It is common for you to give up your project to save money, always leave it for the next month and, in fact, that month never arrives.
Tell me if it’s not like this: You pay all your bills, but then you spend more than you paid, and in the next month try again to save what’s left? No need to answer, it’s a rhetorical question, I’m sure of the answer.
If you save what’s left you exhausted month after month, try to pay first instead of going out spending more than you earn. Leave some accounts in automatic debit, and it will be a guarantee of savings to not continue with debts.
# 7 – Refuse to use a fixed monthly budget
For some reason, many people see the budget as something between them and the life they want. But it is important for you to see your money the way it really is, a tool that can help you pay for the life you dream of having.
If you are struggling with your finances, having a budget might be exactly what you need. Nor does he need to be restrictive. Think of the monthly budget as a plan. A monthly budget is made for this, to guide you, make you its ally, reduce unnecessary expenses, so you can make sure you are saving and can plan your dreams wiser.
# 8 – Pay for entertainment and expensive hobbies
If you have an expensive hobby and problems with money, it does not strike me as a good combination not to continue with debt. Maybe it’s time to ask yourself why keep this hobby. Because if it is difficult for you to save and every month your debts increase, then playing football every week, being part of a professional sports team, playing tennis every weekend, collecting antiques will not help you at all, quite the opposite. You have to be careful and be careful about these things.
I do not mean that you should not have any hobbies, but it is extremely important to make sure that you can pay for them before investing on that whim. Are You Saving Money for Retirement? Do you have an emergency fund? Not? So I suggest you think twice before you want to take your diving license or buy a new pair of Tennis rackets.
# 9 – If You Forget to Save for the Future
It’s easy to say that “going forward” will “save you for retirement” or “when you start earning more, you’ll get paid a private pension,” but what happens when your plans do not go as planned?
What happens when you forget to do what you said you were going to do – and it will take several years? What happens if you do not contribute to retirement until you are 30, 40 or even 50? Unfortunately, we all know exactly what happens – you will have to work until you die and ask God that nothing happens in the way, otherwise you are literally chipped.
If you are self-employed or work for someone without labor guarantees, it is your duty to save for your retirement, make as if your future depended on it. And in a way it depends. Think about it.
# 10 – Do not use your home to lend money
When banks and financial institutions look at their home, they see it as a giant piggy bank. This is exactly why most homeowners look for secured loan lines, ie mortgage loans or secured financing.
They say, ” Just lend your house to the bank in exchange for some money, ” of course they will never tell the disadvantages of this type of credit operation, starting with the amount paid for the property that reaches only 60 to 70%.
But there are times when secured lending makes sense – especially when there is a need for reform. However, be careful not to get into a spiral and continue with debt and more debt.
Continue with debt or stop self sabotaging
Do you acknowledge being guilty of any of these self-sabotaging behaviors? If it is, there is no better time to change than now. Once you figure out what you are doing wrong, and what attitudes are keeping you from saving. You can start acting.
From these discoveries, you can create a plan to regain control over the situation and especially about your money.
Do not fall into this self-sabotaging trap, do not let it stand between you and your financial goals. Patience leads to perseverance and courage, but it also requires changes of attitudes that will take you beyond, toward your dreams.