Earning
a decent or reasonable income automatically means that you should be
able to take good care of yourself. This is not the case for certain
people because before the end of the month, their accounts are empty and
they are unable to care for themselves to a very large extent.
You think you are too young to start saving
The
truth is that nobody is too young to start saving. But still, it is not
too late to save. No matter how small, you should save.
Changing your electronic gadgets
Every
three months, you change your gadgets to the latest ones. You do not
need a soothsayer to tell you that you will soon be broke.
The more your income increases, the more you spend
This
very straight forward. The more your income increases, the more you
spend. Clearly, you have intensified your spending impulse because of
increased salary. If you do this, you will always be out of money.
You do not have a budget
Having
a budget is the best way to track your spending. Your budget will keep
you in check. A budget will help you decide if you should book a 3 star
or 5 star Lagos hotel. If you do not have a budget, you will be poor.
You are always in debt
You
cannot get out of debt because you are always borrowing money for your
upkeep. Of course, to stop borrowing, you should live within your means.
Not caring about the future
You
do not think about the future. You want to eat everything you have now.
You do not know that an emergency may occur anytime. Consequently, you
will be able to address such emergency because you have no money.
You do not track how you spend
Immediately
money hits your account, you just spend it indiscriminately. At the
end, you cannot explain how you spend it. You should ensure that you
track your spending to prevent you from going broke.
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