Avoid This Habit if You Don’t Want to be Poor

Most young people can not control their finances well. This can lead to poor financial condition if constantly spending money on unneeded things. Bad habits in managing the finances will be carried into adulthood even while married. The following are examples of such bad habits.

1. Depend on Parents

Living with parents is not indisputable comfort. Although parents have different ways of educating and caring for their children, parents are always trying to meet the needs and wants of their children. Not surprisingly, if many children are frustrated when starting to migrate or stay separated from parents. If you are doing that, you should practice to better manage your finances by starting to stop relying on your parents. How to start balancing expenses with income. Certainly not funny if you will get married later if still dependent on income from parents. You will also become a parent right?

2. Short-term Goals

Not having a long-term goal will rob you of the established future that you aspire to. Most young people have only short-term financial goals. However, if you are able to set short-term financial goals, you should be able to make long-term planning. Decide how much you want to save your money in a year, and start setting up a strategy to make it happen.

3. Never Record What For and How Much You Spend

Make a note is easy and simple. But not everyone wants to do it. So, if you want to really plan your finances appropriately, then make it a habit to keep track of any expenses.

Not only can it be easier to know where expenditures are, keeping track of expenses can train your awareness to be responsible for any expenses made.

4. Depend on Credit Card

Dependency of using credit cards in transactions is a big issue that needs attention for the young. If you choose to make minimum monthly payments, your new credit debt will be paid off when you’re in your 30s. Try to focus on paying off credit card debt as soon as possible.

5. Waiting for a lot of money instead of starting investing

Maybe young people think that investment is a confusing thing, but it turns out it really can benefit your finances. If you decide to invest, ask for advice and information from more experienced ones.

Because a wrong investment will only harm. But if you already have a good knowledge to invest, then it will change the financial condition for the better.

6. Not Saving

Young people in their 20s tend to feel enough when they already have the money to pay for rent and buy food and drinks everyday. In fact, having financial planning as early as possible needed to deal with emergencies in the future.

Here are some bad habits you should avoid to be able to manage your finances well at a young age. Apply from now on, do not let the financial problems become a nightmare for your life. May be useful.

Courtesy : detik finance, Memang Unik

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