WHY CAN'T I AFFORD IT?
I do not understand why you have to read this, when you yourself know the answer, but maybe it is true as they say over there, that sometimes we need others to tell us things, to accept it and begin to take steps to help us to solve it, because since you are here I have to do my job and tell you, "BECAUSE YOU SPEND MORE THAN YOU EARN" is so simple and easy ; and yes I know you know it but guess what, you don't do anything to change it and have a better financial situation, let's see if you can come up with an idea or motivation to help you change that.
The first thing is to know that every human being must base his life on the firm ground of reality, avoiding the unreal in thoughts and actions; and for this, first we must examine all the beliefs and concepts that we have, to see if they are partially or totally illusions based on longings or fears.
Applied this in the financial field, to improve our economy, is to be sincere with the income that is perceived, the necessary expenses, the satisfactory ones and those that are only made to belong, to participate or to be accepted in a place or group or simply just because and nothing else.
So you must know your reality, it is from there that you must start to achieve a good organization, discipline and management of your money, which will allow you to better plan for the future, help you spend less and grow your money, in view that the key to improving your personal finances is "SPEND LESS AND SAVE MORE" and this is not a phrase of mine is a phrase of financial experts.
Here I share with you 6 habits that can help you with your financial problem and improve your economy. good luck!
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6 habits for improving your personal finances
A willingness to maintain order and discipline is key to developing habits. To manage your financial transactions, you do not have to do it compulsively, but you must do it in a way that allows you to save, invest and plan for the long term. We recommend following these tips. This allows you to better manage your resources, increase your funds and improve your investments.
Track your expenses: First, you should thoroughly analyze your financial situation and identify your expenses and income on a regular basis. Remember that your expenses should not exceed your income.
Budgeting: You should propose a budget based on your monthly income. We recommend breaking down each fixed monthly expense (transportation, food, rent, health, education, entertainment, etc.).
Establish financial plans and goals: It is important to have a financial plan to help you meet your future financial needs. It is a good idea to start with small, easily achievable goals to motivate you to move toward larger goals.
Reduce Debt: Act Now! Prioritize paying these obligations so you can save money and interest. If you have debt, pay it off as soon as possible. Plan to get rid of all of them and not get new ones.
Savings: Save part of your regular expenses. It helps you reach your financial goals, whether it's monthly income from salary, business or other types of income. Savings allow you to hold on to your money for a period of time until you have enough to meet your proposed goals.
Investing: Analyze what you want to invest in and acquire basic aspects of the product such as the necessary knowledge, duration, expected return and risk.
Investing is intended to make your money grow. This preserves your savings and allows you to grow your capital through investment vehicles to reach your future goals faster.