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Personal Finance

10 Mindsets that are Stopping You

These are the mindsets that are stopping you from becoming a savvy consumer and super saver

1. Everything works out

The easiest of all cop outs is the “Everything will work out” excuses. Happy endings in all parts of life do come but most of the time these endings only take place when being worked upon. Everyday it takes effort to meet a goal or practice a habit. Hoping and trusting in the universe is a very easy mindset to have that won’t get you far.

2. I will tomorrow

The person you think you will be tomorrow, will come up with the same excuse for the next day. It’s time to be honest with yourself and ask if you are putting off the hard things for another day, with another more productive and passionate you. You’ll never feel like doing it any way so might as well get it done today!

3. If I work hard, I’ll be wealthy

Not the worst mindset to have but it is still avoiding the fact that everyone needs to be in constant control of their finances. Work, side hustles, passive income are all great ways to build your wealth. However keeping an organized budget, watching your spending and also constantly using your hard earned money to make money need time and attention too. Also, employers love hard working employees who never seem to care when their next raise is coming. Don’t waste your life away working for the man only to be passed up because you aren’t also chasing wealth. Not asking for more won’t guarantee you a higher paycheck. You have to go in and ask. Show them all that hard work you are putting forth!

4. It will happen for me naturally

Growing up, becoming an adult, hitting a certain age does not guarantee that you will be good with money. I know adults who still can’t take care of their own finances because they just assumed it’s something that comes with age. No one is going to give you a hand out. You have to take charge of your finances today and continue to learn throughout your life.

5. I don’t know anything about finances

Fine! Go learn. Seeing finances as someone else’s job or interest is not okay. It needs to be a part of your life or else you will be taken advantage of down the road. Do not run from money talk. Dive into it! All that hard work and hours at the office should be taken seriously and so should your finance knowledge.

6. I’m Carefree!

Sure, it’s fun to not care. Non of us want to turn into greedy, money hungry cheap-o’s but goals need direction. Stating that you are carefree is showing that you have no money goals. Which is fine, but thinking about money is thinking about the future. And your future self will thank you.

7. It’s my family, friends, situation

It’s true. These details can effect your life. There is always a reason to live an easier more comfortable life but at the end of the day we are all fending for ourselves. Put yourself first and know your limits. Learn to say to family, friends and situations that will only hurt you.

8. When I’m Older/New Year

This is a tough one. I think the truth is, is that we are never really ready for anything. New job, buying a home, moving to a new city, starting a family. It is easier to push something off hoping that you will one day be ready but we are only pushing off the inevitable. You are already old! Time to act.

9. I know everything

Only the dumbest people believe they know everything. Take everyones advice with a grain of salt but never stop being a listener.

10. It is what it is

Sometimes you have to accept a certain situation and know that it is out of your control. When it comes to your wealth, it is usually in your control. Sure you HAVE to pay for a phone plan, gas, utilities, but can you call your phone provider and ask for a better plan? Find cheaper gas? Look at energy saving programs? Usually there is more options then you know of and it isn’t “it is what it is”

Agree with me? Share your comments on the mindsets that are stopping you right now and how your work through the excuses!

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Categories
Personal Finance

8 Reasons You Are Already Behind

  1. Debt

Imagine taking two big steps, now take three steps back. This can be what it feels like to live with debt. I’m sure you have heard the first step to financial freedom is to pay off your debt. Or you have heard to use your debt. However, to keep your life and financials simple it is best to be debt free as soon as possible. Having debt in the form of credit card payments, car payments, student loan payments and more close more doors then you realize.

2. Spending Habits

Photo by Suzy Hazelwood on Pexels.com

2. No Tracking System

3. Your’e afraid of having a goal

4. Not investing

5. Subscriptions and monthlies

6. Everyone else is working harder

7. “Just going to happen” mentality

8. You’re not asking for more

9. You don’t want to learn

10. Not checking your bank accounts