We have all been there, you want to buy something and just whip out a credit card without thinking about how you are going to pay for it. Without understanding how that purchase relates to your future savings its easy to give into that instant gratification.
The easiest way to get a hold over your finances is to understand what makes them tick and to make them work for you instead of against you. Look below for all the simple things that are conspiring together to keep you in debt!
- You think of your credit card balance in terms of monthly payments instead of the whole amount
- You buy lunch every day at work without adding up the costs over the course of the month
- You have no emergency fund so unexpected expenses get put on credit cards
- You don't look at what the interest rates are on your credit cards or don't understand the terms
- You don't use tax advantaged accounts to save money, resulting in unneccesary taxes
- You haven't considered asking for help from financial experts
- You don't understand how investments work so choose the wrong ones
These simple things are all combining together to undermine your financial health!
