8 Financial Habits That Keep You Poor

Stop Sabotaging Your Finances

A lot of people face financial hardships in their lifetime, and some never escape the torture of struggling to pay their bills. This particular life difficulty has escalated greatly during the pandemic.

I used to struggle every day with money. I would go to bed thinking about whether I had enough money to buy groceries this month or not. I had horrible finance habits that led to a lack of structure in my monthly expenses and absolutely no savings.

Here’s 8 habits that can help you grow your wealth and avoid the money mistakes I’ve made.

Most people go straight to paying bills and buying unnecessary stuff when they get a paycheck. Once all those bills are paid and stuff is bought… what’s left?

You say you’re going to start saving with what’s left of your paycheck, but there’s never anything left… which leaves you right where you started last month and doesn’t help you get ahead.

You have to set aside the money you want to put into your savings from your paycheck first thing. Then you can look at your bills, pay the necessities, and cut down on non-essentials. This will ensure that you’re saving every month while helping you to cut back on unnecessary spending.

2. Don’t Try To Keep Up With Friends Who Have Expensive Taste

Have you ever heard the saying you are what you eat? Well, you also become like the people you keep around you. If you have friends that are always wanting to go eat, stay at expensive hotels, spend a lot of money on bar tabs, etc… then it’s time to set some firm boundaries.

Explain to your friends that you can’t go out and do the expensive things they want to do because you are working towards some financial goals. Don’t get peer pressured into wasting away your money. Trying to keep up with everyone else will only let you down in the long run.

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