prgpfg
Joined: 20 Sep 2006
Posts: 13
Location: Chula Vista
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| Posted: Mon Sep 25, 2006 7:40 pm Post subject: Bad habits on Money Management |
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| Most of us have a bad habit of how we spend our money. Spending money is OK because people work hard for their income, but how they spend it could affect them later on in the future. Some of the habits people face when managing their money is spending without a budget. I can’t emphasize this enough to always have a budget when it comes to managing money because without a budget, this may lead to overspending. Carrying a balance on credit cards and just paying the minimum required payment on these cards. Also, when it comes to consumer debt, people do not pay attention to the interest rates and what different types of interest rates there are. The only information we look for typically, is what the interest rate is. There are other valuable information out there when it comes to consumer debt. Not investing money towards an investment vehicle for the future is also something that is overlooked. When it comes to retirement, most people do not have any and are forced to go back to work after retirement. Another bad habit about money management is ignoring how small purchases can add up to big dollars. How can we overcome these bad habits? it takes discipline, but doing the opposite of these habits will get people out of their financial burdens. |
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