11 Signs That You Have a Bad Financial Life

Sometimes, our traits and the things that we do can be the reasons why we do not a good financial life. In this post, I listed a few to help you realize why you are having a bad financial life.

11 Signs That You Have a Bad Financial Life

Here are the signs that you have A poor Financial Life:

1. You always know the latest sale events and frequently visits the Mall to check and buy the latest items on “SALE.” This kind of activity will drain your wallet quickly and that’s why you better change it now. How? Self-control and discipline plays a big role if you want to stop impulsive buying. Create a budget plan and stick with it and avoid the mall as much as you can.

2. If you are very emotional, remember to have a clear mind when deciding on your finances and to avoid making decisions when you are emotional. Often times, people makes bad financial decision because they are clouded with their emotions.
If you are feeling bad or too happy, try to have clear mind and stable emotion so you can think properly before making financial decision.

3. You have a limited source of income. If you’re somebody who only relies with one source of income then you might end up miserable in your coming years especially when you spend a lot. Having multiple streams of income means you can save more and prepare for the future.
You next source of income doesn’t need to be big. You can start by checking out small businesses that you can do on the side. For example, selling cellphone load doesn’t take that much time. You can do it even if you are employed and your co-workers, family and friends can be your market.

Your skills and talent can also be a good source income by doing freelance work during weekend or free time. Remember time is gold and how you spend your time determine your success.

4. Take responsibility for the things that is happening in your life. Be in charge of your life and do the necessary things that will improve it.

5. Knowledge is power! If you don’t have time to learn new things then you will miss one way to improve yourself and may mean lost opportunity. Developing yourself is important. Just think of it as investing to your most valuable property – YOU!

6. Know yourself! Understanding and acknowledging your weaknesses and strengths can help you determine things that you are good at and things that you need to improve on.

7. Do not be afraid to ask! Your pride prevents you to ask others for help and this can hinder your growth. If you can’t do a certain task and there is someone who can help you then ask for help. It will save you time and you will create less mistake if there is someone to guide you on it.

8. Know your priorities and the things that are important to you. You will feel lost in your journey to your financial freedom if you don’t have any plans. By having a clear plan, you can set your short term and long term goals. These goals can guide you in your success and it also helps you to do things that are not in line with your goals and waste your time.

9. Be bold, be adventurous, do not be afraid on trying out new things. You wouldn’t know if you will be successful in one endeavor if you don’t try it. Getting used to something and hiding in your comfort zone can hamper you from reaching your success. The younger you are, the bolder you should be in trying out new things because you can still correct mistakes that you make and learn from them.

10. You always compare yourself with others. Stop gauging your worth base on other’s success. Each of us are different and my definition or measurement of success will be different from yours.

11. Trying to stop or run away whenever you encounter a problem. Try facing your problem because it will not solve itself. Facing your problems can help you improve on your problem and having good, strong problem solving skills can make a huge difference not only to your career but also for your future.

 

Post Author: Jeff Eugenio

I am currently employed in an IT Firm in Makati and trying to be a true frugal pinoy.

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