Worrying about debts, low income, and how bad you are with handling money make people feel hopeless. But remember that the way you see yourself plays a more significant role when it comes to how you are behaving.
So I’ve rounded up some of the most common things that people say when it comes to money and how you can turn it into a positive one. Doing this will help you improve your financial progress in no time.
1.I’m An Impulse Buyer
Some people seem to buy everything that they see, and this can be a sign of being an impulse buyer. This can also be considered as a mental disorder, based on a doctor who had a patient who spent more than $100,000 on different things using his credit card in just one weekend. The person was having symptoms of bipolar disorder or obsessive-compulsive disorder.
Some people do this because they use shopping therapy when they are depressed. Whether they broke up with someone or they’ve lost their job, some cope up by going to the mall to ease up the pain.
You can replace this habit by looking for things that will not require you to spend money. You can either watch a movie at home, read a nice book, or even go out for a run. It would be best to avoid your triggers in the best way possible. If you are into gadgets, then avoid walking through electronic stores.
2.No Time To Do Budgeting
Some people often say that they are too busy with their lives that they can’t even plan their budget. However, no one is too busy for budgeting. People are just too stressed to deal with things that are complicated and scary.
But sooner or later, you need to start to do your budgeting. Whether you are going to start saving for your child’s college funds, down payment for a house, emergency funds, and even for retirement, you need to start to organize your finances out. You can start downloading apps so you can begin. All you have to do is to key in all of your expenses each day and the app will compute everything for you.
3.Paying For My Child’s College Tuition Fee Is Impossible
Some parents think that they need to handle all of their children’s expenses until they graduate and start working. The truth is, you need to make sure that you don’t carry everything on your shoulder. Your child is already big enough to help you when it comes to paying his own tuition. He can be a scholar, or he can also work as a part-timer in many of the local shops around his place.
Remember that you’re not a bad parent for not being able to pay your child’s tuition in full. You also have other financial obligations to fulfill, and your child is big enough to help you out on this. Besides, this is good for your child because you are teaching him or her to be responsible at a young age.
4.Renting A House For Myself Is Forever
While there is nothing wrong with renting, it would be best to have something that you can call your own home. Don’t dwell in thoughts that you will never have your own home, though. If you start budgeting and saving money for it, you will be able to pay for that down payment.
Get yourself motivated. You can go to a mortgage lender and check if you will prequalify for a mortgage. The lender will start offering you different suggestions and the amount needed for the down payment. They will also let you know how much they are willing to lend you. In this way, you will know how much money you need to budget and save.
5.Emergency Funds Are Hard To Save
No matter how much your salary is, it’s still best to always prioritize your emergency funds. You can set up an auto-transfer from your paycheck to your savings account. Whether you’re saving $40 or $50 per month, it can still go a long way. So start allotting a certain amount from your paycheck. If spending money is addictive, then so is saving. At the end of the year, you will surely be surprised at how much you have earned.
6.I Am Not As Lucky Like The Others
Stop playing the victim. If you keep on seeing yourself as a failure, then you will only be attracting negativities. The best thing that you can do is to focus on the good ones. Strive to be better because even the wealthiest of people experience problems, too, so don’t get discouraged. With the right determination, you will surely become successful.
7.I Will Forever Be In Debt
If you are dependent, then this phrase could likely define you. You will forever be in debt if you continue to be dependent on someone or with your credit cards. Why don’t you start paying off those debts and try earning money for a change? Focus on yourself and your earnings, but make sure to pay off your debt along the way while also saving.
With the tips above, you will surely be able to improve your finances in no time. Yes, it may not be that easy, but with perseverance and determination, you will definitely be able to reach your financial goals.
Based on Materials from Forbes
Photo Sources: Money Blogger, Marketing91, Flickr, Money Matters