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5 Signs You Have Bad Money Management

5 Signs You Have Bad Money Management

Money is not everything, but everything needs money.

In everyday life, people need money to get almost everything they need.

However, the obstacle that often arises in using money is haphazard management.

Everyone has their own habits in managing finances.

There are those who are diligent in saving from an early age, there are also those who until adulthood are still so indulgent that they forget to have savings.

This second group finally confuses themselves when money runs out, savings are also critical.

Well, there are some signs that actually reflect the way you manage money is still bad.

Let's look again at the signs of poor money management that are often overlooked!

1. Salary runs out in the middle of the month.

Generally most people receive a salary once a month, either at the beginning or end of the month.

But, have you ever found that the balance in your account is low or even completely depleted even though it's not yet the end of the month?

If that rarely happens, the way you manage money is still said to be safe.

But if you often experience this, it means you have poor financial management.

The causes of the salary dropping faster can be various, ranging from not keeping financial records, wasting money on shopping, to the habit of treating friends beyond the limits of ability.

2. Confused about what the money was spent on.

The hallmark of people who have poor money management is that they do not know what the cash flow is used for.

From the beginning of the month, you should have an expense post so that at the end you don't get confused about how much money you have spent.

For this problem the solution is to record all income and expenses.

Come on, get used to recording every expense and income!

This will make you accustomed to managing finances and can evaluate spending styles.

3. Often late in paying installments.

Are you paying for your motorbike, car, or house?

Don't be late paying!

Most people still consider this installment payment problem trivial.

Even though often late in paying installments can indicate you have poor discipline in managing finances.

The burden of fines can pile up.

This obligation should be a top priority that must be fulfilled once you get a salary.

Well, don't let it backfire because you don't pay off your installments and make your debt bigger.

4. Don't have a spending target.

Wanting your wallet not to "leak" in the extreme, of course requires effort.

Among them are making plans and targets so that they can be controlled properly.

If you don't have a clear spending target, it's definitely confusing where the money will go.

These spending targets can be applied for both the short and long term.

For example, you want to save to buy a car in 2 years, then start saving with a predetermined deadline.

Rintarou
Rintarou Time traveller.

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