Are you working seven days a week, but still don't have enough money? Perhaps you are making typical mistakes that keep you in a vicious circle.
We will tell you about the mistakes that are often made in such situations.
The first is living "paycheck to paycheck." If you don't save even 5% of your income, any force majeure will drive you into debt.
Even such a modest amount will become a safety cushion that will save you in case of a refrigerator breakdown or a sudden trip to visit relatives.
The second mistake is loans for momentary desires. Buying an iPhone in installments seems profitable, but overpaying with interest turns the gadget into gold. And if you take several such loans, the debt pit will become bottomless.
Remember: if you can't buy something twice, you can't afford it. It's better to save up and buy it right away - this will save you from interest and stress.
The third trap is not knowing your expenses. Without accounting, you don’t see how much you spend on food, transportation, or entertainment.
For example, daily snacks at cafes can “eat up” a third of a salary, and streaming subscriptions can eat up another 10%.
Get into the habit of recording your expenses in an app or notebook. A month from now, you'll find that part of your salary went to something you don't even remember. It's like a diet for your wallet: until you see the "extra calories," you won't start losing weight.
The fourth mistake is the fear of investing. Money under the mattress loses value due to inflation. Even a bank deposit is better than nothing.
But many are afraid of the word "investments", thinking that it is only for millionaires. In fact, you can start with any available amount per month. The main thing is to learn and not put all your eggs in one basket.
The fifth mistake is envy of other people's lives. Social networks make us buy unnecessary things in order to "be no worse." But other people's photos are staged.
A luxurious interior may hide a 20-year loan, and a new car may hide a lease that takes half of your income. Stop comparing yourself to others. Your real life is more important than fake images.
But there is a sixth, less obvious mistake – unwillingness to learn. Financial literacy is not given from birth.
If you don't understand how interest, taxes, or insurance work, you will always lose money. Read books, watch lectures, ask questions.
For example, did you know that you can get back some of your taxes through deductions? Or that unemployment insurance can cover loans if you are laid off?
It's never too late to fix these mistakes. Start today: start a piggy bank, close unnecessary loans, delete apps with endless purchases.
Automate your savings: let 10% of your salary go straight to a separate account.
And also, learn to say “no.” No to spontaneous purchases, unnecessary subscriptions, advertising pressure. Financial freedom is not millions in the account, but the confidence that tomorrow will be no worse than today.
And the last piece of advice: don't scold yourself for past mistakes. Everyone makes mistakes - it's important to learn from them. If yesterday you spent your entire salary on something unnecessary, start with a clean slate today.
Gradually, new habits will become a part of your life, and you won't even notice how your budget will start growing. And then your dream will be just a stone's throw away.
