Hello Sophisticated Spenders!
I came across a really cool website the other day.
It was called:
My problem is that they only provided one reason:
Because you spend more than you save!!!
That’s not 100% true.
So I’ve come up with a list of my own. And a LOT of these things I’ve learned from experience!
5 Reasons Why You’re Poor:
1: You spend more than you EARN! This, my friends, is why a budget is SO important. Get a paycheck, pay all of your bills, save some money, and enjoy the rest! Easy…right?
2: You don’t take full advantage of any employer matched retirement contributions! Last year, I racked up $5,478.11 in FREE money just for saving for retirement (I get this free money every year and I’ve now been working here for 8 years!). That’s the amount of money that my company decided to GIVE me for making this awesome decision. Find out if your company will match your retirement contributions and sign up immediately!
3: You live outside your means! I follow one golden rule, I never compare myself to others. I buy things that I can afford and I don’t chase other people’s dreams. Make sure that you live comfortably for YOU and no one else. I have no problem saying NO! If I know I can’t afford to go out with friends or spend money on the newest shiny object, it’s VERY (almost too easy) for me to simply say no.
4: You carry credit card debt! I was once asked, “How much credit card debt is too much to carry?” My response: “ANY amount that you can’t pay off at the end of the month.” I don’t like giving away extra money. The interest rate on most credit cards is sky high. I prefer to not pay extra money for anything!
5: You finance small purchases! Hello Rent-A-Center and payday loans. These companies are NOT your friends. You need a new TV? SAVE for it! If you start saving $50 a month in January, by the time Black Friday rolls around, you’ll have over $500 to spend on a BRAND NEW TV! IN CASH!
**Bonus, You don’t know what dividends are!** (This is free money too!)
Why do I think I know everything?
Because I’ve been there!
There was a time when I needed payday loans to survive.
There was a time when I carried credit card debt.
There was a time that I lived outside of my means.
It gets better!
I was able to make it out because of awesome blogs like this one and because I had friends who were on my financial dream team.
Stay tuned. I will tell you who is on my financial dream team and my payday loan story!
Are you brave enough to try it?
Did I miss anything here??? What are 5 reasons why you’re poor???
Where are you in the whole scheme of things?