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Good Money Habits You Need To Build Today




You are working towards financial freedom but you feel like the universe is plotting against you. They don't pay you enough for your job, all landlords set crazy high rents, the money just isn't enough for you. Maybe you should do a little introspection, are you sure you don't have bad money habits?

Instead of complaining about not having opportunities or blaming karma, we should start looking at how we treat money. You should work on your projects and ventures, but you must first have good financial habits.

Bad habits will bankrupt you again even if you have a successful startup.

These are good money habits that will help you have financial freedom and make better use of your income.

1. Plan ahead

Before you start making radical changes in your life, you need to start making plans.

You must make budgets for everything, vacations, trips, investments, and above all: a monthly budget. This will help you keep a balance with your bills, debts, and your income.

Of course, when you have a plan, you must stick to that budget.



2. Don't spend more than you have

This may sound silly, but it is a mistake that we all make all the time.

Some call it having the desires of a rich man with poor man's pockets.

Not spending more than you have means not changing your iPhone every year, or wanting to buy a new car just because it looks nicer. It's a change that sounds simple in theory but can be tricky in practice.

Living a minimalist lifestyle can help you save and see faster results on your investments.

3. Take care of your debts

It would be unrealistic to tell you never to be in debt. Certain economies work because there are healthy debts that everyone has.

However, you should know what to go into debt and how to be in debt. If you're in debt to pay for a house or college, that's fine. To pay for a Gucci bag or a pair of Jordans, you're doing it wrong.

In addition, you must make sure you pay your debts on time. They can be a curse or a blessing if you are not careful.



4. Always have an emergency savings

No matter how much you plan, an unforeseen event can ruin your budget for months.

Therefore, you must have an emergency fund to be able to respond to anything. A dental emergency, an unplanned visit to the hospital, urgent repairs to your home. Any of those things is a big expense that can't wait.

Start small, but try to save an equivalent of 3 to 6 months of salary.

5. Keep your money moving

There are quite misconceptions about investing. Many believe that it is a privilege that only the wealthy can afford.

Anyone can invest, as it's not about throwing your savings into a gamble. You can start small.

It's important that even if you have a 9 to 5 job, you keep part of your money in an investment.



6. Keep an eye on your expenses

Write down all of your expenses over a month, and then analyze that.

Are you spending a lot of money on Uber? Could you eat less at KFC? Do you pay subscriptions for streaming services that you don't use?

I'm sure that if you look at your expenses objectively, you will find several things that you can cut to reduce them.

7. Avoid impulse purchases

Do you like to fill your shopping cart with Shein when you are bored? Maybe it is a habit that you should cut.

Nowadays it is so easy and fast to buy things online that we hit 'buy' sooner than we think. Before you know it, there are boxes on your doorstep of dozens of things you don't need and bought.

If you have to buy something online, look for online coupons and offers in cash-back apps.





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