These Three Things Are Major Contributors to Your Money Problems
There are factors in life we can’t control and others we can, when it comes to money. Unfortunately, you may have a few bad breaks in life that can be financially devastating.
Common Causes to Your Money Problems
- Underemployed: Not making enough at your job to get by - Unemployed: Job loss and having trouble finding a good gig - Large amount of debt with high interest, whether student loan or credit card - Not preparing for retirement, whether lack of knowledge or lack of money to set aside
1. You Have A Consumer Mentality
The challenge is — unless you learn to break the mentality and adopt more of an investor mentality — you’ll find yourself overspending and needlessly upgrading your material things.
2. Social Media
I see social media as good for businesses, building a brand, and great for marketing. But on the flip side, social media can hurt your pockets if you compare yourself to others too much online.
3. Financial Illiteracy
Lastly, financial illiteracy is a big reason for your current or past money problems.
Additional Ways to Fix Your Money Problems
- Get motivated - Put the credit cards away - Track every bit of your spending - Start a side hustle - Automate your savings
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