The five most common horrors in finance

[Himon2413]

Take note of the advice on comparabien.com and avoid causing yourself a major financial crisis.

Image


There is an old saying that says you learn from your mistakes. However, as in every area of ​​life, you fall again; this is also the case when it comes to managing your personal finances.
The specialized portal www.comparabien.com analyzes the five most common and recurring faults. Below is a summary:
1. Spending more than you earn. This afghanistan number screening happens when we don't control our spending and we mistakenly believe that the money we receive is enough for even the smallest whim. The clearest symptom is when we turn credit cards and loans into a deceptive extension of cash.
2. Mixing your savings account with your salary account. You should separate the money you are going to save into a different account than the one you use to pay for your daily needs. If you don't, you will fail to meet your savings goal every month.
3. Confusing the concept of wealth. If your money management is governed by the maxim: "the more you spend, the richer you look," you are falling into another financial horror. If your concept of wealth is based on spending and not on sustainability, you are putting your finances and that of your family at risk.
4. Paying off one debt by taking on another. This is the most common financial horror, because when we pay off one debt with another it creates a "snowball" effect on our finances and will only cause our debts to grow out of control.
5. Not prioritizing expenses. You must be aware that not everything can be covered at the same time. Review your objectives and priorities. Classify your financial obligations according to their importance and urgency.