Most people around the globe complain of financial constraints. The income they receive from their respective places as wages prove to be insufficient in sustaining their lives as a whole as well as their families and those depending on them.
Certain habits adopted by man in the name of leisure have proven to be very costly.
Some of these habits that would drag you down to remain broke or poor for the rest of your lives include;
1. Lack of Savings.
Most people perceive savings as a budden and they find it harder to save for the future. Savings serve as future investments for the unforseen disasters. Good example being the covid-19 outbreak, most people had little or no savings making them rely on government on the provision of some of the essentials needs like food.
Savings therefore lowers the fear of failure in life in future.
2. Drug Abuse
Most people don’t know how to spend their earnings. Once they get hold of them and within a week then they are left with nothing. If you look closely then the expenses all go on drugs.
If at all one must use drugs which is regarded as a bad vice in the society, little amount are advisable in the cases of Alcohol. It’s not worth it to finish almost a crate of beer for you to please your allies and and two bottles can do. The money can be utilized on other things or even savings.
3. Expensive Expenditure.
Most people like buying expensive commodities at the expenses of their wages. Things like watches, clothes outfits and many other things also drain people their cash without their knowledge.
In order to avoid these unnecessary spendings, minimize fashion trends and exhibitions and this extra cash can be put into use to generate profits instead.
4 . Lack of Financial Planning.
People don’t have financial plans and what to do with the cash once it’s in their hands. This therefore leads to misuse of this resource called cash as money is just used anyhow.
It is advisable that everyone draws their financial plans which acts as a guide in each of their financial actions.
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