I've been working in this field for over 10 years and I have seen "mismanagement" at its best when it comes to money. In my personal life I have been a mismanager of credit and debt and I have been the worst and the best so I can talk to you from first hand experience.
Bad credit, bad debt, bad money mangement doesn't just go away because you close your eyes and wish it away, in fact, when you open your eyes, it is generally worse than it was before.
If you don't want to grow old broke or as a popular book says "die broke" it might be time to start taking responsibility for your financial life. Good things happen when you take responsibility, when you stop making excuses and when you start to clean up the areas in your life (like credit and debt) that you may have neglected or ignored.
Stop Giving Away Free Money - If you are poor and barely making it that means you are generally living from paycheck to paycheck. If you are living in survival mode and you have been giving away free money - stop it right now! What am I talking about?
Bank Fees - if you know you don't have enough money in the bank to cover a check - don't write the check. When it hits the bank and there is no money you will be charged a fee. This is giving the bank "free" money. Why would you do that when the bank has more money than you have?
Right! You have heard this before. Okay, so how many of you still get charged bank fees?
Parking Tickets - If you are downtown parking at a meter and you know don't have any quarters in your pocket or purse to park - why do you park and just walk away? When you return you have a ticket - some of which start at $30. You have just given the city or county where you live some of your hard earned money. Think ahead and use your head. If you know you are going to be somewhere where there is a meter take come quarters with you.
OK, how many of you have parked and said - I am only going to be a quick minute and have come back to have a ticket on your vehicle?
ATM Fees - Mini Markets and Convenience Stores - why do you shop in these places? When you buy something they charge fees on top of what you have purchased. Regular stores generally do not charge fees for shopping in the store. Learn how to save money wisely.
Traffic Tickets - What's wrong with following the laws in the state you live in? If the speed limit is 45, why are you driving 60? You get stopped, get a ticket and the ticket is close to or over $100. If you run a red light it is $300 or more in most cities. Hey, you just gave away some more free money!
I know there are more examples of you giving away your hard earned money while trying to live from paycheck to paycheck. There are certain things in life you have to pay for - but some of the stupid things we do that cost us money is pretty crazy. Why do we do it? Successful folks - do not give away free money.
Do you have more examples to share?
Love, Money and Deadbeat Honey's - Commitment is not just for relationships - it is about money too. I am talking to women but there are some men out there who get fleeced too. But, women stop giving men money - just say no. There was an old drug slogan a while back that said "just say no." I think it was drugs, it could have been alcohol or cigarettes (everything is bad for you these days)...but nevertheless, the slogan works - "just say no." Especially, if you are a single parent with children to support.
I don't care what his situation is when they ask you for money and they can come up with a lot of situations...my car needs to be fixed - I need money to get to a job interview...wait!! He doesn't have a job? How is he going to pay you back? Think about it!
Examine your honey's - and hold onto your money's (sic) - Commitment crosses all lines, friendship, money and work. If you have a real friend that is watching you struggle and can see your circumstances first hand - they would be ashamed to ask you for money.
Don't lend money to deadbeats. You can see deadbeats walking towards you - there is no way you can't recognize that a guy or gal is a deadbeat (their lives are reflected in their faces), get out of their way, turn around and walk the other way when you see them coming.
Next up... 10 Easy Ways to Save Money... (even if you are making minimum wage)