You work hard, you save and you have even cut back and now use the generic products, but your bank account is still hurting. I hear it all the time from friends and family members alike. Where is my money going?
It’s a good question that everyone should have an answer to, but surprisingly most don’t even realize where their money is going and they are blown away when they find out.
So where is your money going? If you are tired of broke then it is time that you get to the bottom of this mystery and find the answer. Here is where you can start looking…
There are so many hidden costs in life that we aren’t even aware of half the things that we are spending money on. I know I have a Netflix account, but am I conscious that it costs me about $8 a month? Yes, I willingly signed up and entered my information, but do I consider that cost into my monthly budget?
With automated payments it can be easy to ignore those costs when it comes to creating a budget. Be mindful of all your accounts and who is taking what out every month.
So we make our list and we head to the grocery store. We have designated a budget and we know exactly what we need and we will buy nothing else. But wait, if I buy this bag of chips then I get that dip for half off. It would be stupid to pass up that deal right? I am saving money right? Wrong….
If you end up spending more money than you budgeted then you are not saving. It may sound like a good deal and maybe it is, but if it causes you to spend more than you intended then it is not actual saving you. Just because something is on sale doesn’t mean you should buy it. If you buy something you don’t need then you aren’t saving even if it is 75% off. Stick to the budget and keep your head down.
We Are Family….Right?
We all have those friends and family members that ask us for money. I’m not saying that you shouldn’t help people put, but it is wrong for friends and family to take advantage of you and it is wrong for you to enable them to do so.
If you want to give monthly to charity or other good causes then make sure that you budget that accordingly and be real and honest with friends and family members that ask you for money. Tell them that you can only help them a certain amount and then after that have to figure something out.
Money problems plague everyone from time to time and unless you are willing to go off the grid then they will continue to be a nuisance, unless you get a hold of them. Money doesn’t have to ruin your life or control it, but so many let it takeover. Take these tips above and begin to control your money instead of the other way around.
By Henry H. Hernandez
Henry Hernandez is a Texan and a veteran. Henry loves to interact on social media and his favorite social site is Google+.
Feature image by Tax Credits