If you can’t save money, it is because you spend more than you earn each month. The only ways to fix it are to cut certain expenses, eliminate some expenses, and/or find ways to earn more income.
The truth is that to achieve the above, a lot of effort is required, a change in habits and probably even work. Also, you have to accept that saving is not easybut it is necessary in order not to face worse problems.
Consequences of not saving money:
- Getting into deep debt and staying in debt, by spending more than you earn.
- Postpone retirement because you cannot ensure a decent retirement.
- Having to stay in a job you don’t like and being very unhappy.
- Never have money for emergencies and if something happens, lose assets or get into debt.
- Losing financial or life opportunities, both offers and business opportunities.
- Financial decisions are based on staying afloat instead of being strategic.
- Not being able to financially help your parents or other relatives in need.
- Marital stress and possible divorce due to the tensions generated by the lack of money.
- Transmit financial stress to children and “mark” them with that chip for their adult life.
- Feeling guilty for spending money on what you enjoy, thinking that you don’t deserve it.
As you can see, the consequences of not putting your personal finances in order are very serious and you must do everything possible to change your situation.
Saving money may seem difficult, but there are effective ways to do it. One of them is very basic: make a monthly budget. This helps you set limits on your spending and have your finances better organized.
Another way to save is pay yourself when you get your salary. Save a percentage of what you earn, such as 10%, or a set amount until you reach your savings goal.
Reduce debts is also important. If you have multiple credit card debts, consolidate your debts into one to save money and avoid worrying about paying off multiple cards.
spend to save It may seem counterintuitive, but it is effective. Pay your credits and services on time to avoid late payment fees. If you have credit card debt, pay more than the minimum to avoid debt growth.
Avoid ant expenses, those small expenses that are not necessary and that can affect your pocket and health. Difference between needs and desires to privilege what you really need.
Saving is never easy, but you must make the effort and think not only about a goal or reward, but about all the dire consequences that you can avoid.
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