3 Money Traps to Stay Away

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  1. 3 Money Traps to Stay Away

3 Money Traps to Stay Away

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Everyone is a genius in their fields, except with money. You can learn anything you want, be a good lawyer, go to law school and do well on there, be a doctor, go to med school, then dedicate your time, and many more. But, there is a unique thing about “money,” you can learn it on business or financial subject, but there is no certain method to good at it, of course, there is theory how to use and behave with that.

Then, let’s take a look at the bigger picture, there is a janitor or a common employee who can manage their finance and then a financial graduate. So, is the money can’t be learned? Of course, it can. You can learn it in every aspect of your life because many decisions are associated with cash. It’s not about the money subject itself; your psychology, behavior, and environment are involved. There is no shortcut to wise with money; time and experience will make you know well.

Every Week Means a Party

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Every weekend means a party. That is a misconception to avoid; I know you’re already working hard on weekdays. But that is not the way to spend your money; if you already have safe, your money is still not a good idea to do. Let’s assume that every party spends $100 or more, then in a month, you have to spend $400, so in a year means $4,800 a year. Suppose it is not big money for you, that is still great money to use for other spending. Use your weekend to rest or have family time; to heal your body and mind after being stressed out with your work. You can go party or get some fun once or twice a week because it is important too; it will help your mental health deal with every problem you face. Then can bonding with friends and co-workers make your relationship not about a transactional thing; it is beyond and pure relation.

Expensive Car

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I agree a car is a basic need for some people, but it’s not about the expensive one. A usual vehicle is enough to use; I know the more expensive your car will make comfort and get the status in the society, but it is more important than your real financial condition?. Get a usual vehicle with good ease for you; it will allow another future. But the important is comfortable using the car, and the real function of the vehicle is to help you move from one point to another point. The vehicle has depreciation price, the more expensive the car you buy, the more big depreciation you will have; then the other thing is about the maintenance, a monthly maintenance price is directly proportional with the price, the gasoline will need your spend, then the last one is the assurance you will pay is higher than the usual car. The ideal way is to get a regular car and then save the money or use it another way. If you still want to have one because of your dream, buy it, then you will feel what I say to you. Make sure you calculate it carefully.

Expensive Clothes

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Then the next one is still a basic need that everyone needs. There is a lot of price range in clothes; it depends on how much money you have. The main function of clothes is the comfortability to use the look well. There is a different style of clothes and designers or the manufactured product. Avoid purchasing expensive clothes because it too pricey and will grow your impulsive buying intention. Still can make costly purchases with a precise decision once or twice a year. Minimize it possible as you can. The other tip is to write down your daily clothes need, what item you often use, and what doesn’t. So you can maximize it to buy expensive clothing items usually you used. At some point, expensive clothes give you comfort, but there are manufacturing clothes that provide the same thing at a good price.

Money is not about how much money you spend; it’s about how much money you save. Then it is about how you behave with it. No matter how much money you have, if you can’t control your spending, you will have zero bank accounts. Control your expenses and behave with your money decision proses.

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Cheers,