We all tell lies when it comes to money. Some are minor and you can make up for them but others will really harm your future. You need to be truthful about your budget and the outgoings that you have. That is the only way you can save up for that dream house, holiday, wedding or whatever else you have planned. Here are some of the lies you need to stop telling yourself.
It’s Okay to Hate a Job If It Pays Well
The money may be great but is it really worth sacrificing your wellbeing? You need to be happy in every aspect of your life. If your job is something you really hate with a passion, you need to ask yourself whether that good pay is worth the sacrifice.
Of course, loving a job with a low pay isn’t the opposite problem that is really important to consider.
I Can’t Do Anything About that Bank Statement or Bill
Too many people think that the banks and creditors have all the power. That isn’t the case. You could find that negotiating will help you, whether it is clear a current credit card bill or save up for the future.
You don’t get anything if you don’t ask so pick up the phone or put it all in writing and start getting your own way.
As Long as I Pay My Minimum Balance, I’ll Have Good Credit
It doesn’t necessarily work that way. It will depend how much you have on the credit card and the other debts that you have. If you’re constantly using your card because you are living beyond your means, you will find your credit rating is still harmed.
If you have 60% of your maximum allowance available, paying the minimum only can help.
I Need to Get Onto the Housing Ladder
So many people are so focused about getting onto the housing ladder but they fail to think of the downsides to that. Sure, you have more control and you won’t have to think about moving next year but what about the costs for work that needs doing and the full cost of the mortgage?
You need to think about your current debts and lifestyle to determine if this is the best thing for you.
It Doesn’t Matter If I Just Dip Into My Savings
How often have you said that and then a few months later realised you have none left. You may have the intentions of topping it up and only taking a little but it just never works out that way.
The best thing to do is keep your savings separate and never touching them, apart for whatever you are saving up for!
I’m Too Young to Save for a Pension
It’s never too early to start saving up for your pension. It’s best to do it as soon as you start turning 18; even if you don’t know what you want to do.
Give yourself plenty of time to save up plenty of money and life the future that you dream.