In the topic of money and commerce, there is often a lot of struggle that is involved. Despite best intentions, many find themselves falling into some pretty common money problems and issues. WE believe that in order to avoid the problem, one does need to know that it is a problem to begin with.
That being said, we would like to share some of the more common money issues that we have come across in our field of work:
Paycheck to Paycheck Existence
As soon as we graduate (or even while we are pursuing education), we get jobs that help us pay for the other things in our life like rent, food, clothes, gas, heating, etc. Most people find themselves living in a sort of paycheck to paycheck existence. They are only making enough to survive and none at all to put away and allow to grow into something more.
If the money is only enough to breakeven, you will never get anywhere.
Exorbitant Living Expenses
Needs and wants are completely separate. People are creatures of habit and of comfort. We tend to stay where we are comfortable. This can often involve keeping up with friends who have a bigger spending capacity. If you find yourself running out of money as soon as it gets there, you may need to reconsider your living expenses and your lifestyle.
Exorbitant living expenses are a sure trip to financial trouble in the future.
Unforeseen can happen in a blink of an eye. You may think that you’re solid in one moment and find yourself facing an exorbitant bill because you or someone in your family got ill. Sudden loss of income is a very real possibility and those that do not consider this end up with pretty much nothing.
These three things that we’ve mentioned are some of the more common money issues that we have come across. We hope that identifying them will help you better avoid them in your life.