As my 2020 post I figured it was good to share as we preparing ourselves to think about some money habits that are keeping people broke. Let me be clear there are WAY more than 5, but I wanted to highlight 5 that people might overlook.
1️⃣)This is a silent financial killer because it's typically hidden behind a need. I see this often in people when people eat out versus cook at home when they know good, and well they should cook and use the saved money to pay off debt or build their savings.
2️⃣)This is common sense, but most people don't budget. Most people see budgeting as something for poor people. That's sad 😢 because the only way to measure how you are doing financially month to month is to do a budget. You can't improve if you can't grade yourself 📈.
3️⃣) Yes, you work hard, but you only deserve what you can afford to pay for with the income that you earned and saved. And even then you must be careful because doing things that you claim your deserve can take you away from your big-picture goals. I see people do this all the time with trips. You want to be debt-free, but you just spent $2k on a trip that could have paid off your credit card 💳 🤦🏾♂️
4️⃣) Those building wealth understands that cash flow is everything. Signing up for payments takes away from how much money you have every month. If your cash flow is tied up in monthly payments, you are setting yourself up for failure. It also represents that you buy things you can't afford and fit it into your life anyway 😩.
5️⃣) Tying with point 4, your income is your most powerful wealth-building tool. When you don't see this as your blessing to build wealth with but instead squander it away on a lifestyle that eats all your income, you are creating a situation where your income does nothing but fund your life instead fund your dreams. That is a dangerous way to live. Paychecks2Powercredit motivation business badcredit crediteducation realestate creditrepairservices creditmatters money fixyourcredit credithelp studentloans financialfreedom tradelines creditreport creditcard success fixmycredit wealth credittips creditscore creditrepair creditres