CreditManaging For Your Financial Future
Almost 10 years with job, but nothing in saving, and we wonder where did our money gone? Is it weird?
I assure that you had face that experience above or at least, you heard that murmur from friends and relatives.
Here I list some mistakes that always happen in financial management brought to that situation at last.
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1. Fail to plan
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This is the main and most common cause. This problem happens from our own attitude.
As the answer to this we said we have no time but still have time for entertainment.
This is what we call procrastination. In brief, took the financial management as an easy thing and it will happen naturally on itself.
If someone takes the best step for smart planning, he or she can build wealth although he or she was categorized in the middle class income.
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2. Use the money than they can afford.
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With the ads display in mass-media and electronic showing wealthy lifestyle and peer influence, we use our money more than we can afford.
Too updated with tine like want to use new branded hand phone and new dressing fashion had made money turn to zero.
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3. Use credit card
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Credit card is a service to make our purchase easier with some payment to them. But it is a big trap our financial future.
The habit of buy first pay later is a trend today. But in reality, many people had gone to bankruptcy because of the use of credit card improperly. We had to learn between the good debt and the bad debt. The good debt is the debt that makes us rich and the bad debt is the debt that makes us poor.
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4. Not save for future
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Many of us want to retire early, but the main thing to focus here is we had to assure we had enough money to support our life after retire.
Unfortunately, many retirees had to work to support their life after they retire.
If our salary going up our saving should going up but what happen is otherwise.
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5. Not save for the emergency
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Some people think buying insurances is some kind of waste. But we must know without insurances, our financial is in crisis especially when we downsize.
-Khairul Azan-