How to not Manage Your Money

1. Most of us know that being able to manage our spending is an essential skill. However, how many of us do you think have learnt this skill? Do you follow all the necessary steps to make sure that you can break even at the end of the month or even save some money? Following are two examples of things you should not do with your money.

2. Jack calls himself a ‘credit-happy guy’. He loves paying for things that he will not need some time later with the money that he does not have. This is the problem a lot of people have. They purchase things, knowing that they do not have the money to pay for it at the end of the month, which results in them maxing out their credit cards or having to pay extra interest for something that they could buy a few months later with zero interest.

3. If you ask Linda where her money goes most, she will not be able to give you a clear answer. However, last month, with the help of a friend, she tracked her spending, and to her surprise, she realised her biggest expense was entertainment. Linda now has no reason to complain about her not being able to make ends meet. According to her friend, young people today have added so many expenses to their lives that their earnings cannot pay for them, while even their minimum-wage salary can sometimes be enough for them to get by.