7 Tips That'll Make You Better at Finances is out

7 Tips That'll Make You Better at Finances is out. Here's what's in

Finances can be scary. Being single can be even scarier.

Sometimes you just need to hear it from someone more experienced and balanced than you can be.

And despite not being single, I have some handy tips to pass on to those couples.

Because financial planning is important, but it’s not as complicated as others think.

Especially if you stick to the appropriate rules.

Common budgeting mistakes

We’ve all been there. Your budget is so hard you take out two loans. And then next month you’re lucky if you’re still paying the loan off. Or you have to make another.

According to a CNBC report, people often make common budgeting mistakes. They make these before even attempting to do the correct thing.

Let’s be real. The best budget you ever do isn’t consistent with what you were doing before.

These are common budgeting mistakes to avoid when starting to plan for your finances.

1. Not Planning at all

A couple can get a little extra freedom when using an unsecured loan, but you should really have a better strategy to save money than just living off the average person’s salary.

If you’re struggling with money right now, you’re not a person worth saving for. People usually try to cut expenses without an alternative plan for financial growth.

And if you haven’t planned ahead, you’re losing opportunities to make better financial decisions and they end up costing you more in the end.

So remember to plan ahead when making financial decisions. Even if you feel guilty after every expenditure.

2. Making excuses for how to spend

Maybe you’re still dating and each other is a big part of the reason you’re keeping your money separate. That’s no excuse.

A common excuse I’ve seen was how sometimes money is used as a bargaining chip. They’ll try to keep one another motivated to work.

But money is a lot more powerful than sex. That saying really applies here. So if you’re using your relationship as an excuse to get yourself extra money, that’s a terrible way to save your money.

3. Promoting a spending mentality

We make them act like parents when our parents are gone and we’ll spend money on our kids. But when our parents aren’t around we just try to spend more.

Nobody wants to spend their life like that.

But some people act that way. And it’s painful.

4. Refusing to spend

But we’ll refuse to spend on ourselves and encourage our partners to do the same. The most selfish person on Earth will splurge on their partner if they ask, and that’s the worst thing you can do for their money.

What are their Christmas or birthday wishes? If they don’t care, you should too.

5. Not spending on their needs

Don’t spend on holidays or vacations. Not at all. Especially not this year. The problems with holiday spending are endless. You never see your friends or family again.

Except for the same people, you went to extremes to avoid. Same sources you stopped using. Same easy-access things that helped you survive a rough year.

6. Underfunding your retirement savings

One misconception you need to break if you want a reliable retirement safety net is that you should spend your money to retire early.

I promise you, no matter what happens to you in retirement, it’s never a bad idea to save up and enjoy the best that money has to offer you.

7. Leaving your family out to dry

Now we’re not talking about the occasional rotten person.

You know that person. They usually travel more than they should. They get what they want when they want. They’re fortune-hunter who talks about how smart they are.

This person is not a person you should be dealing with when your family needs you. Your family is real.

No matter how your parents deal with their finances, you need to have a plan that works.

And if you can’t create a solid plan, help them create a plan that works better.

You deserve better and you can get better and it starts with finding ways to save for when you retire.

 

Create a life that feels good on the inside, not one that just looks good on the outside.