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Wednesday, November 25, 2009

GET AHEAD FINANCIALLY

Can't seem to get ahead financially ? Little Mistake-Stumbling Blocks To Your Financial Freedom

Financial freedom seems to be the current buzzword in the world of self-improvement and it means different things to different people. For most people it means working up everyday able to do exactly what you do without time or money restrictions. But buried in credit card debt. living in houses and driving cars we can barely afford,spending more than we make and putting nothing away for the future-how many of us actually stand any chance of realizing this grand and glorious dream ?

Maybe we are making some of the little mistake unknowingly. These mistakes listed below will be able to help you understand where you may be going wrong and how to get back on track quickly.

Mistake 1

Not Really Knowing Your Financial Situation:


Do you know where all your money goes ? What are your monthly expences ?How much are your unpaid debts ? Make a list and this will give an initial idea as to whether you are living within your means or on borrowed money

Mistake 2

Living Beyond Your Means:

If you are spending more than your income whose money are you spending-the bank's money or the credit card company's ? make a commitment to yourself only to spend within your budget or income limit's and only buy the necessaries

Mistake 3

Paying Off Less Than the Full Credit Card Balance Each Month:

If you are like many others and pays only the minimum amount each month the interest on the interest is enough to pile up your debts ! Put aside more money to pay off the full amount every month and get this debt under control.

Mistake 4

Continually Adding to Your Debt

Think about all stuffs you buy without really paying attention

Don't buy on impulse or at the height of fad or fashion. All these fall into the category of unconscious spending and it adds on to your debt. Ask yourself twice or three times before you buy anything Do I really need this ?

Mistake 5

Spending Without Caring For Your Future

It seems alright to spend what you earn but how much do you put aside each payday for your future ?

Take stock and realize that tomorrow will not look after itself

Make it a point to invest in your future every month and it can be very rewarding to see how quickly your saving multiply over time with only a small investment each payday.

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