Falling in love with the wrong person is the first!
How to become rich is always the top question of many people. It is also for that goal that many people head into plowing, trying to work, eating and spending frugally to save money. However, some people year after year, their accumulated wealth not only has not thickened, but also eroded a lot. There are many reasons, among which the following 4 serious mistakes must be mentioned.
1. Falling in love with the wrong person
In all relationships, including love, money It’s not a prerequisite, but you shouldn’t underestimate it either. This is one of the issues that make couples argue the most after marriage.
Imagine if something went wrong, the family had only one source of income and one of them had to depend on the other, both of them would be in immediate financial crisis. Not to mention, if you marry a spendthrift or a gambler, you’ll never accumulate money. When the economy is difficult, the relationship of two people will quickly arise problems, which can break up at any time.
So, before deciding to share a house or marry someone, make sure that you both have the same opinion on spending, money and have frankly discussed debt issues, income together. Don’t be afraid to share, talk clearly about money, financial situation Before marriage, if you don’t want your life to be poor in the future, you and your husband can’t get along.
2. Afraid to invest because “you’re young”
Many young people now still choose to work for a salary, have so much money without thinking about it invest when. They feel satisfied with their current life, worried if they start a business – investment will lose, have to incur debt, have no money to invest…
However, life waits for no one. While you hesitate to wait, thinking whether to invest to “make money”, the money you have has lost a large profit. Investing is the only way you can really make the money continue to work for you. Don’t be afraid of new things and don’t be afraid to take risks. Please consult the people around, fully equipped with knowledge to choose the right investment channel for you and learn how to control risk.
3. Overspending
Spending more than you earn is one of the biggest financial mistakes many people make. FOMO psychology – fear of missing out and peer pressure make them always try their best, splurging money on friends.
However, the more money you spend to save face, buy a certain position, the more miserable and self-deprecating you become, especially when debt surrounds you. Saving for a great purpose is what can make you happy, getting rid of the feeling of inferiority to those around you. Because the joy of achieving some financial goal will last longer than the satisfaction that any impulse purchase brings.
Even the smallest changes over time will bring big benefits. If you want to limit and get rid of toxic spending habits, start from eating at home, limiting eating out, going to the mall and shopping to relieve sadness. Applying these, budgeting and spending plans well, your savings will add up quickly.
4. Borrowing continuously
Nothing can erode your wallet faster than debt and credit cards. Paying later can cause serious financial problems that get worse over time, making you used to the feeling of gratifying, indulgent purchases. After all, your assets will be vulnerable and have to pay high interest rates on your debts.
To correct this mistake, firmly say no to any over-budget expenditure, rather than trying to borrow money to buy it. Also, never spend more than you earn each month, be disciplined, be self-disciplined with your budget and always live within your budget.
Photo: Synthesis
at Blogtuan.info – Source: Kenh14.Vn – Read the original article here
