Someone with excellent personal financial management speaks with confidence. He is of a secure and a sound mind.
He knows, when the going would get tough, he would have enough money stacked up somewhere, that would come to his rescue. He spends only on what he needs and not on all that he wants.
His rate of spending is always lower than that of his income. He invests his savings smartly and gets delightful results. And lastly, he does not believe in vanity.
Are you like him? If you are not here are ten reasons why:
You don’t Prioritize:
The amount of money you earn in a month should not be short of what you spend in a month. To ensure this you should prioritise what all you need the most first.
After you have taken care of all the essentials, you can buy stuff that are less important. It’s a known fact that you’d still have a long list of things to be bought.
Put that aside for the next month and save a certain percentage of your income for the future.
You are Short-sighted:
Maybe you have a low IQ or, you know, not really on the sharper side. Or you are plain and simple dumb. Not all men are created equal.
The founding fathers were wrong at that. Some men are clever and the others not.
But even if you are a dumb person, its not exactly rocket science to know that the good times do not last forever.
So, it’s advisable to cut down on mindless spending and save some money for the future. This is said with all due respect to the readers.
Emergencies do not worry you:
Life is meant to be enjoyed. Seize the day is your motto. For you, contingencies do not matter.
Or, it just might be that your stoner brain does not have enough brain cells to comprehend that not everything goes according to plan. One needs to set aside a certain sum of money just for those unexpected moments.
Again, no disrespect to the reader. You really shouldn’t get offended unless you really deserve to.
You do not track your spending:
If you are one of those Einstein on steroids kind of persons, this point should not matter to you.
You already keep track of whatever you buy, and add up all the money you spend, in your juiced-up brain.
But if you’re like all the normal folks, it’s advisable to keep a log book to keep track of your spending patterns. It would also help you manage your habits as a consumer.
Keeping a log book would help you remember the costs of articles and also make it possible for you to fix a budget for yourself.
You are a vain person:
You are one of those special princesses that wants others to know that you are a success.
What you do is, you spend more that you earn on things you do not need, just to impress everyone around you.
Often you run out of all your moolah and then borrow from loan sharks and then do not pay back on time and get your face busted.
Friend, if this really is the case, best of luck for the future.
You are incapable of making a budget:
If this is true, you should really try to change yourself as a person and stand up for yourself. Not a lot is asked of you.
Only that you streamline your mind and think in an organized manner. It’s very helpful if you have a budget.
It helps you plan your expenditures better and also allows you to save some money for the future.
I hope that helps, Mr Forrest Gump.
Your budget is unrealistic:
Ok, now this is not a very big problem. Hell, at least you tried to make a budget. Now all you got to do is learn from your mistakes.
Try to learn why your budget failed. Maybe you did not guess the prices right. Maybe you spent more than you thought you would, on gas.
Maybe its not even your fault. Maybe the world markets just collapsed and the prices of everything just shot through the roof. Anyway, the point is you made a budget, and Kudos to you for that.
Give it a month or two and your budget would be as realistic as your dreams about robbing a pawn shop.
You try too hard at changing:
You have been a shopping addict and a person with an overall unorganised mind, for many years.
Being a financially secure person has always seemed like a distant “Disney” fairy tale.
But now, after going to the psychiatrist and reading ample self-help books you feel charged enough to change yourself for the better.
So, you make a budget and try and follow it as strictly as you can. You have given it all that you’ve got. You are almost successful and are slowly starting to become an inspiration for many others like you.
When suddenly you spot a winter sale of up to 50% on the latest Loise Vuitton apparels. Your shopper instinct acts up and overpowers your intellect. The rest of the story is known.
Changing oneself is a good thing. But take it easy. Give it time. Being too hard on yourself often backfire.
You are too much in debt:
Well, there’s not much you can do other than paying back your debts. Your debts have kept you from making any substantial savings for yourself. Let this be a learning lesson for the future.
You did not change with time:
You were rich once. You had all the luxuries in the world. But then the IRS took your daddy and threw him in jail, because he was a bad man.
He had evaded taxes. And now are left alone to fend for yourself and your mother. You have a normal job. The money you earn should be enough for you and your mother.
But you still struggle to make ends meet. This is because you still need to drive that Pontiac your dad gave you on graduation day.
You still need to pay the one butler that has still not left you. And you still need to pay for the maintenance of Your father’s manor.
If only you could buy a small place and learn to live a humble life with an average car and normal lifestyle. It would have been a lot less stressful.
That’s all folks !!