subscribe to the RSS Feed

Tuesday, August 4, 2020

Are You Financially Sabotaging Yourself?

Posted by PattiM

You have a decent job, decent income, you work hard but never seem to be able to feel financial security. What are you missing? You are likely suffering from one or more common undiagnosed financial problems of your own making. The good news is, since you made the problem, you can correct the problem.

Let’s have a brief look at the problems you may be suffering from:

Not Planning – Planning finances isn’t as much fun as planning vacations but your finances will be around a lot longer. We have a tendency to procrastinate and we’re no different when it comes to our finances. We let credit card balances accumulate instead of getting serious about getting them paid off, we put money into investments and then never get around to examining if we’re getting a decent return on our investment. Failing to plan is planning to fail.

Overspending — The average Canadian only saves about 5% of their income. Many Canadians have no idea where their money goes and don’t make an effort to track it. Being deliberate about determining the difference between needs and wants is vital to learning to reign in spending and start putting those hard earned dollars into savings. WAIT! There is more to read… read on »