Do you get frustrated when doing your budget because the numbers don’t up? If your answer is yes this post is for you.
In America and in many other countries across the world, people are obsessed with materialism. Not only do we want all the stuff, we silently compete with each other to try and have the best, biggest and most stuff possible. According to CNBC, Most Americans, despite their best intentions, are digging themselves deeper into a hole each year. The average American now has about $38,000 in personal debt, excluding home mortgages.
This post is more of a commonsense approach, but the older I get it seems that common sense it’s so common. I honestly could summarize this blog up in a sentence: If you don’t have the money to pay for something, don’t buy it! But I know many of you would like explanations; so, here are some tips to keep you focused on NOT buying things that you can’t afford.
Create a Budget
The first thing that you must do is make sure that you are creating a budget each month before the month begins. Meaning if you are creating a budget for June, you should have it written in May, before June 1st. Creating a budget will help you feel more in control of your finances and let you save money for your goals.
Read More: How to Get Started with Your Budget
Is it Really Worth It?
You should take a step back and ask yourself if the purchase is really worth it. Not sure how to do that? You can start by asking yourself if you need it or just want it.
Need: A need is something that a person must have in order to thrive. Without it, that person will suffer either physically or mentally.
Want: A want is a choice. A desire which a person may or may not be able to get. Life will continue if a person doesn’t get what they want.
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