Being financially responsible is not something that is taught to many of us growing up, maybe that is why so many people find themselves in such big debt today. There are many factors that it can be blamed on as a matter fact, from consumerism, to advertising, to greed, I don't know...but ultimately as an adult it comes down to you! Taking responsibility for own actions can be difficult and embarrassing at times, but the only person it hurts is you. Taking paycheck advances out every month is not going to help you out in the long run. It can be the easy way out right now, but it might end up hurting you in the long run. But I'm not really talking debt right now, I'm talking about what do with your money once you have it and start making it. Things that "they", being your parents, teachers, or elders did not share with many of us growing up.
One thing we all know when we're young is that one day we will have to separate from our parents and go out into the big world alone. Sadly most of us are just not prepared for what is to come, and we end up making mistakes left and right. Mistakes are good though! It's through our mistakes that we will grow and learn what to do. Hopefully we will learn from our mistakes and avoid making them a second around. Now that we are out of college and out in the world making money, most of us get really excited and start to spend, and we tend to spend a lot more than what we earn. That is the biggest no, no and one of the most important things that we need to learn. Over spending is very very bad. Credit cards, are on the top of my list as the most likely to ruin your financial goals.
After you understand the idea of kyboshing overspending, consider creating a set of financial goals for yourself. This could be anything from saving a couple of bucks a day, to having $10, 000 in a year in your savings. All people should have financial goals and a budget. Having some idea of where your money is going on a monthly basis is what will help keep you in check and avoid over spending. Credit cards should only be used in case of emergency. The problem is that people use them for everything, from lavish vacations, to big screen t.v's and this is where the addiction begins. The earlier you start learning about money the better. This way you will begin to learn about how to make your money work for you instead of vice versa. The importance of learning about personal finance and investments and retirement funds and so on cannot be stressed enough. Taking the right steps with your personal money now, could help guarantee a healthy and secure future for yourself and your family.
