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Three Big Money Mistakes You Might Be Doing

In this post I am going to show you the three big money mistakes you might be doing in your business or lifestyle. I am going to provide you the solution to those problems so you can live a wealthier lifestyle. It might be possible you might be having chronic problems with your spending and at the end of the month you might have not enough money to pay your bills which leads you to go a ask friends and family to lend you some money. I believe this is not a smart move because if people see you going through this situation they are going to find you irresponsible. This might be possible for many people. According to Karol Ward a New York psychotherapist whose earned helped many six figures income earners make better decisions with their money has stated “how you feel is how you deal…with money.”

1.Overspending-If you are the type of person who likes to overspend than you are going to lose lots of money over a lifetime. According to Ms. Wards states that most woman’s when they would get out of work in the evening would go and shop at stores for new clothing. Now one thing Ms. Ward discovered was overspending is related to management of emotional pain. One of the difference this happens is because when someone wants to live a similar lifestyle to their co-workers or neighbors while not understanding that every single person today has a different financial status. You might be asking yourself this question what is the solution to overspending. According to Marty Martin, a financial psychologist in Chicago states “Collect yourself by distracting yourself by meditating, praying, engaging in some physical activity or doing something other than making a money decision,” he says.

2.Financial Enabling-this means when a parents gets trap in helping their adult child through their financial problems. As a parent we hate to say no to our adult sons or daughters when they ask for money. The main problem is when we give them money it might be for unreasonable situations. For example, I met a 75 year-old woman who was giving money to her 52 year-old son, which was a total of $150,000 in 5 years which led to nothing just because the mother did not know how to say no to him. This woman by the name of Delores never understand this phrase by Mr. Klontz, “Money for doing nothing creates more doing nothing.” The best way to avoid this problem is not to spoil your children when they are young until they are an adult. Make sure you teach them to be responsible no matter how wealthy you are because if you don’t than its going to hurt you in the long run. Now I want to mention something here I am not trying to make you abandon your kids or anything what I am saying is make sure until they are employed let them become more responsible because if you do not do this you are going to experience tough moments in the long run.

3.Denying A Plan B-When you look at someone who is working in a regular job and you ask them “hows your financial situation they would tell you its horrible.” Trying to provide them a solution might get them upset and tell you they are going to wait until they are the age 65 to retire and the truth is they are not accepting the truth. Denying the future circumstances can ruin a lifestyle for someone. Imagine you are working 30 years at a job and all of a sudden by the time you reach 65 their is no pension or social security than what are you doing to do? According to financial planner Peg Eddy states “”Amazingly, some folks think there is a ‘money fairy’ that will bail them out when they reach 65 and they only have Social Security to depend on.” My best recommendation is to have a plan B to be able to help yourself and your family. I made a video on having a Plan B that I would like you to watch.

P.S. Lemme know what you think by making a quick comment below and feel free to share this with your friends if you’d like.

 

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Email: WorkWithRaymond01@gmail.com

"I help network marketers how to find the missing link to success."

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