3 Mistakes That Will Make You Poor For Life
Things that I personally applied in my life.
In today’s generation, most people (especially millennials)buy things that they can’t afford. They spend money on buying expensive shoes, clothing, or any other costly things which are out of their budget. You can’t hear them talking about investments because they are just busy fulfilling their materialistic desire. However, these choices lead them to make costly mistakes in life which I’m going to discuss in this blog.
So, let’s dive in...
#1 Too Much Spending
It’s very easy to spend money. You think that as you are earning a good amount, you can spend a lot of money on a product that you can afford at that time. This is a very stupid mentality.
Avoid such spending by sticking to a plan. Track your daily spending and check what amount of money you’re spending extra. Find ways to save some money.
For instance — buying a 25$ good quality t-shirt instead of buying that same quality t-shirt from a big brand, which can cost you around 40–50$.
#2 Doing Comparison With Others
Comparing your financial life with others’ financial life is a waste of time and can cost you a lot of money. I know you want that iPhone or that expensive watch that your friend has. But think about this and question yourself, do you really want this or you’re just buying this because your friend just bought it and now you’re jealous of him.
Stop doing these shitty things. You’ll never achieve financial freedom in your life if you do such spending. Focus on your financial goals and stop worrying about others.
#3 Not Taking Any Health Insurance
Not taking any health insurance is one of the worst decisions that you can take. Many people ignore this thing because they think that they’ll not have any serious medical emergency, and if anything happens they’ll cover the expenses. Because of this negligence in the past, many people have fallen ill and lost everything just to cover their medical expenses.
So, It’s better to take health insurance for your family and especially for your parents who have a risk of a medical emergency.
That’s it for today.
I know that people make a lot of mistakes related to money but I’ve just pointed out these three things because I’ve seen people making these mistakes. I’ve personally made these mistakes in the past.
If you have also done such mistakes, do share them in the comment section below. Also, mention what you’ve learned after doing such mistakes.
Who knows, your reply can help someone out.
I hope you’ve found this useful.
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