Money management is a topic that needs to be discussed more often than not. Statistically proven, 8/10 US Citizens cannot pass a basic financial literacy test. The lack of money management has kept many people from living the life they desire. Most poverty stricken families have been in poverty for generations.
To think that it’s been generation after generation with the same mindset, as it relates to finances. Growing up, many of us always heard the phrase, “Ima be broke anyway.” The term “broke” has often times been a part of the black community.
Although we may have heard these terms growing up, at some point we have to realize it’s our thinking that keeps us in that mindset. If you believe you’re broke, than you are and will be. If you believe you will be wealthy, as long as you take the proper steps to break the “broken” mindset, you will prosper.
The things is, it’s all about changed behavior. It starts with assessing your financial habits. When you get paid, what’s the first thing you do? Do you buy something nice? Do you save your money? Or are you like most people, living paycheck to paycheck?
Many people who live paycheck to paycheck can’t see a way out. They believe life will always be that way. They feel they don’t make enough money. They become hopeless. Learning to break the paycheck to paycheck lifestyle can be a bit challenging but one thing it’s not, is impossible.
I’m no financial advisor, but we know it’s a matter of taking a look at what you have coming in vs what you have going out. This is simply comparing your income and expenses. If you subtract your expenses from your income, what is left over? Many people may say close to nothing, which is common.
This is where a deeper look is mandatory. You have to assess your expenses and if you truly want out of the paycheck to paycheck lifestyle, you will have to eliminate some expenses. You will have to make some changes. You will have to make some temporary sacrifices. The question is, do you really want to?
Share your views on how you got out of the paycheck to paycheck lifestyle..