These 7 money habits will keep you poor forever:
1. Paying Yourself Last
What do most people do when they get a paycheck?
Go out.
Buy clothes.
Go for meals with friends.
Get that new computer or phone.
The problem?
You don’t leave any money to invest in your future.
What do most people do when they get a paycheck?
Go out.
Buy clothes.
Go for meals with friends.
Get that new computer or phone.
The problem?
You don’t leave any money to invest in your future.
So, what should you do?
Pay yourself first.
Here’s how:
1. Check your pay day
2. Choose a percentage you can afford
3. Set up a direct debit to a portfolio
Now, you can spend while your money works for you.
Pay yourself first.
Here’s how:
1. Check your pay day
2. Choose a percentage you can afford
3. Set up a direct debit to a portfolio
Now, you can spend while your money works for you.
2. Keeping Up With Friends
Do your friends insist on the best restaurant in town?
Do your friends insist you buy that jacket to match those shoes?
Do your friends insist you get VIP tickets for the event?
Do your friends insist on the best restaurant in town?
Do your friends insist you buy that jacket to match those shoes?
Do your friends insist you get VIP tickets for the event?
Surround yourself with individuals who are reckless with money...
Guess what?
You become reckless with money.
Hang out with people who understand sacrifice.
Guess what?
You become reckless with money.
Hang out with people who understand sacrifice.
3. Disorganized Finances
The more you grow, the more types of finance you will have to deal with.
Think of it like a garden.
If you have a small backyard, you can look after it without a problem.
But if you have several acres of land?
This takes a lot of maintenance.
The more you grow, the more types of finance you will have to deal with.
Think of it like a garden.
If you have a small backyard, you can look after it without a problem.
But if you have several acres of land?
This takes a lot of maintenance.
Set up systems to help you track your finances.
One good one to use is an app like Mint.
You can link your bank accounts and outstanding balances.
You can see exactly where your money is. It will also show you statistics through brilliant visuals.
One good one to use is an app like Mint.
You can link your bank accounts and outstanding balances.
You can see exactly where your money is. It will also show you statistics through brilliant visuals.
4. Paying Extra Due To Poor Planning
Are you the person who has to buy an umbrella because you didn’t check the weather?
Are you the person who takes an Uber because you forgot your subway card?
Poor planning costs us more than we realize.
Are you the person who has to buy an umbrella because you didn’t check the weather?
Are you the person who takes an Uber because you forgot your subway card?
Poor planning costs us more than we realize.
5. Getting Too Comfortable With Debt
It’s become normal for someone in their 20s to have $50,000+ in student loan debt.
We see many people in their 40s with a mortgage, car loan, credit card debt, etc...
Debt is necessary but not all the time.
Avoid it when you can.
It’s become normal for someone in their 20s to have $50,000+ in student loan debt.
We see many people in their 40s with a mortgage, car loan, credit card debt, etc...
Debt is necessary but not all the time.
Avoid it when you can.
6. Paying Too Much In Taxes
The biggest expense in your lifetime?
Taxes.
Most tax laws are inefficient and designed to leave you worse off.
Seek ways to contribute your fair share, while also keeping your rightful earnings.
The biggest expense in your lifetime?
Taxes.
Most tax laws are inefficient and designed to leave you worse off.
Seek ways to contribute your fair share, while also keeping your rightful earnings.
7. Not Investing
Investing can seem daunting.
It’s an endless minefield of confusing terminology.
At least... it used to be.
Nowadays, with apps like Trading212 or Robinhood, investing has never been easier.
Investing can seem daunting.
It’s an endless minefield of confusing terminology.
At least... it used to be.
Nowadays, with apps like Trading212 or Robinhood, investing has never been easier.
Research an app that works for you.
Set up a direct debit like I talked about earlier.
Watch educational videos on YouTube or read a good beginner’s investment book.
Set up a direct debit like I talked about earlier.
Watch educational videos on YouTube or read a good beginner’s investment book.
The way we understand money is the difference between being rich and being poor.
Remember - habits can be replaced.
Start making better decisions with your money today, and your future will be brighter without question.
Remember - habits can be replaced.
Start making better decisions with your money today, and your future will be brighter without question.
These 7 money habits will keep you poor forever:
1. Paying Yourself Last
2. Keeping Up With Friends
3. Disorganized Finances
4. Paying Extra Due To Poor Planning
5. Getting Too Comfortable With Debt
6. Paying Too Much In Taxes
7. Not Investing
1. Paying Yourself Last
2. Keeping Up With Friends
3. Disorganized Finances
4. Paying Extra Due To Poor Planning
5. Getting Too Comfortable With Debt
6. Paying Too Much In Taxes
7. Not Investing
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Retweet the first tweet to help others improve their lives.
Want more content like this?
Follow me @itsandrewviera
Thanks for reading.
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