5 Ways To Sabotage Your Money
#1 Stinginess
#1 Stinginess
Believe it or not, the more you cling to your money and resources, the less you will have.
What you put into the universe, you get back.
If you’re not investing anything in others, then what do you get back? Nada.
Avoid being stingy with others as much as possible.
Don’t overgive or give when you feel resistance. Instead, find opportunities to give that harmonize with your existence. Everyone has causes that speak to them. Everyone knows people in need that they don’t mind helping out.
Don’t focus on how much you can give. Instead, focus on giving what you have at the right time.
#2 Subscriptions
Eradicate these m*ther f*ckers as much as possible. The more subscriptions you have, the more money you subtract from your account. I have one streaming service. I have one gym membership. And I consistently evaluate what subscriptions I can eradicate.
Don’t buy a car wash subscription if you’re not planning to go to the car wash more than once a month.
Those “valuable” subscriptions like books, coaching/therapy, and other personal development subscriptions aren’t worth it if you don’t need it, don’t use it, or can access the value for free. If you’re not using a subscription, cancel that m*ther f*cker.
Don’t sign up for free trials with no intention to cancel them. Set a reminder to help you avoid paying months of unnoticed fees.
#3 Stagnant Income
Inflation is consistently increasing, so your income should also go up. Don’t allow your income to stay the same. Consistently focus on increasing your income to elevate your options, flexibility, and philanthropic opportunities and to make yourself immune from inflation and economic downturns.
Think of ways you can increase your income. Start small, then figure out a creative path to scale these small increases. The goal is to start; don’t worry about how much you’re bringing in at first.
The little grows to much.
#4 Not Tracking Spending
You might think you’re spending x, but you’re really spending y. The longer you spend y amount, the less money you’ll have. You don’t know what’s happening when you're not tracking your spending. When you don’t know what’s happening with your money, you subject yourself to out-of-control spending.
If you don’t feel like tracking your spending, reduce expenses.
But if you’re going to spend, focus on tracking so that you have intel into what you’re spending your money on and how you’re spending your money.
#5 Saying “Yes” too frequently
Yes, to outings.
Yes, to travel.
Yes, to eating out.
Yes, to shopping.
Yes to giving.
Yes, to new gadgets.
Yes, to friends.
Yes, to family.
Yes, to coworkers.
Yes, to strangers.
Yes, to more Girl Scout cookies (and I was a Girl Scout).
The more “yeses” you give, the less you’ll have.
Set boundaries for how much you say “yes,” and always confirm that you have room in your budget for that “yes” so you don’t hurt yourself in the process.
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This article is for informational purposes only. It should not be considered Financial or Legal Advice. Not all information will be accurate. Consult a financial professional before making any significant financial decisions.