The fact is that we all do want to be successful and independent in every aspect and the financial aspect is on the top of that list. We bring you 7 top mistakes that can lead you straight to the financial hell.
There is nothing more destructive than a child to which you cannot provide basic living conditions. Raising a child does not only require enormous financial costs, but also a lot of time. Unfortunately, when these sources dry up, it becomes difficult to set aside time for business obligations or acquire the necessary work experience that promotes progress in the business segment.
Ruthlessly using credit cards
Thousands and thousands of thoughtless people, who have experienced personal bankruptcy, are financially destroyed by ruthless use of the credit card. In most cases, these people lack understanding of the seriousness of finance and discipline, because the credit card is a double-edged sword that must be used responsibly and respectfully.
Dependence on other financial sources
The longer you stay dependent on the source of finance such as social assistance or help friends and family, the harder it is to achieve financial independence.
Income – outcome balance
Distribution of income without knowing the outcome costs can take you straight to a dead end called bankruptcy. People, who do not separate few hours a month to organize the distribution of its income, usually get into financial problems.
Moving to are where there is no perspective
Whether you realize it or not, the biggest turning point in your financial world will be a selection of places in which to make a life and living in. in some cases, we have no choice. But, one should take into account that the choice of the area where the cost of living is high (and your income is too low to cover such a lifestyle) will bring you to a situation that literally make ends meet.
Not having a plan for the future
Young people always seem to have more free time than money. Therefore it is very important to put some money aside for a longer or shorter ‘interventions’ so that you avoid unpleasant financial problems in your golden years.
Wrong partner choice
Wrong choice of partners with whom you will spend the rest of life is a decision that can have a big impact on your finances. Remember: Marriage is a financial contract. As such, there will always be financially dangerous problem – there are countless responsible people who end up in bankruptcy due to their irresponsible spouses.