This post is for people who find it hard to not only make but to keep money.
There are many things that create financial hardship. When it is our own doing, it is frustrating and feels defeating. Not having an understanding of how to save money and make it work for you is one of the top reasons people find themselves in financial hardship.
Making an average income, $50,000-$70,000 year, allows a person to live comfortably enough. You can pay your rent or mortgage, buy food, clothing, and pay for a car, but it leaves you nothing left over. Learning to save a small amount of that, even $25 -$50/ month can make a huge difference as it starts growing incrementally, and can change your future.
Living above your means is the most catastrophic mistake people make. Spending more than you need to, buying the latest thing on instagram, the best supplement, new shoes you don’t need, eating out one too many times a month, joining clubs and memberships that you don’t use, these eat away at your budget and put you into debt.
Debt is the biggest detriment to building wealth and financial stability. Avoid maxing your credit cards, the interest will rob you of money you could be saving for your future.
Is money hard to make, really? That is a good question. It takes discipline of some kind, you have to go to a job every day, or if you are working for yourself, you have to be consistent and motivate yourself. Making money has a lot to do with your ability to master yourself, your mind, your time, your attitude and your thinking. You have to be committed to decisions you make, and not negotiate with yourself about whether you are going to pursue them.
For some people, they may have money in their life, but are not good at managing it. They may have been brought up in a home where there was always tension around, and a lack of money. It is often the case that this is recreated in their adult life. Our subconscious is not always our friend in that way. We do things that bring us back to feeling poor and worried even when we could have created stability and security.
This is where learning about money, financial concepts, how to save, where to save, what you can create with your savings, how it will benefit you comes in.
The more you know about savings vehicles, government registered accounts, insurance, mutual funds, the stock market, and compounding interest, the more likely you will be to make better decisions around money. Money is an industry. Knowing how the industry works is essential. There are many people who can help you, I am a registered Insurance Agent with knowledge and the experience of my team that can help you learn. That is my main job, helping people learn. Along the way, I sell insurance and open savings accounts that help people grow their money.
I wish everyone the best on their money journeys. If you would like any help to understand the industry we are all a part of, please reach out.
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