Money is no laughing matter!!! Money has ended relationships, saved them, saved peoples lives, and even on a grander scale have caused wars, caused famine, and to say the least brought people closer to God. Money effects every aspect of our daily lives. Those who have it vs. those who don't. The ones who don't have it are envious of those who do have it and the ones who do have it are constantly doing what they can to preserve and nurture their wealth.
I've been around wealthy people, as well as dirt poor people who live on the streets. Wealth in the form of money comes in so many different facets. Some place value on paintings, while some it is a car, or others it might be real estate, for some it is that stash of gold coins buried in the back of the bedroom closet. The one thing that I see a lot of are those without, and people constantly living there life's with this notion that one day the money train will stop in and make all there dreams come true. Sadly, most of us know this to be untrue.
Unfortunately, what most people don't realize is that the US is one of the greatest producers of Millionaires on the planet. Most of us working class people will earn over a million dollars in our lifetimes, however we never retain that wealth, which begs the question-Why NOT? Why is it that most of us by the time we die have not accumulated a million dollars worth of assets? I will tell you why...
Stop wasteful spending would be my foremost piece of advice. If you spent your money on getting your hair done, or going to the casino, or going out to eat on the regular, or maybe you have an addiction to buying hordes of action figures; these things need to stop! Especially, if you can't afford your electric bill, and for some reason the gas company shut you off, and now you have no hot water to take a bath. If I poured you a tall glass of water from my filtered tap water, and told you, "That'll be a buck fifty," you would laugh at me, and call me a shark. However, anytime you walk into a convenience store and made yourself a drink and a paid a dollar to three dollars for that drink, and not even blink at the person running the register while paying, yea your getting ripped off for sure. I guess my point is there are so many ways I see people wasting their money on frivolous crap, that I simply laugh at them when I hear them complain about not being able to pay there car payment, or the landlord is about to kick them out because they can't pay rent. Some people live this way, and I can't be hypocritical too much, however most people don't realize how much money they spend on fountain drinks alone, or cups of coffee. Take for instance the cost of a large cup of coffee at Quik Trip, which I believe is up to a $1.89. That is almost $700 a year if you bought a cup everyday, and for some that is a house payment, or dare I say a car payment.
Granted you won't solve all of your money problems by simply cutting out fountain drinks, or coffee from your local convenience store, however but an overall assessment of your spending habits is obviously in need of an audit. Maybe getting rid of a couple more wasteful things might make a bigger knock into your money troubles.
I will say this, "Whether you make ten dollars an hour, or a hundred thousand dollars annually does not mean that you are spending it properly, or should you spend it at all?" Many times people fall into holes because they don't have the proper spending habits. We all need to tweak our spending habits on a regular to keep ourselves in check. A lot of times people can turn their situation around by creating new habits, a financial life change so to speak. Unfortunately many people are not willing to make those financial sacrifices in order to bring their personal finances into order, and eventually be debt free. Many people remain poor, and broke, and behind on all their payments because they cannot break those bad financial habits.
Until you identify, assess, and take hold of your finances you will never be financially successful...
MY FIRST PIECE OF ADVICE TO TURN YOUR FINANCES AROUND: Only spend your money on assets... Or something that will give you an asset in return...
More to come assets when the urge strikes or someone actually asks me what the hell I'm talking about...
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