subject: Bad financial Traits [print this page] Bad financial Traits Bad financial Traits
There are some who abstain themselves from complaining when it comes to money matters and try to do something about it by saving money diligently and consistently for future, and also by working hard. Thus they become rich and others keep nagging about their finances. This has really been the scenario particularly in US till the recession crept in and people had to take refuge with procedures like debt settlement, with the hope that they will get a waiver for the huge amount of debts that they incurred.
Let us first study the important traits of not so well to do's.
The big flat screen LED TV that has been replaced by the normal one in those families which were practically surviving from paycheck to paycheck, only because it looks cooler than the old one? Certainly not! All because the normal ones had disappeared from the market.
Those that have the most complaining attitude over money has been observed to have at least one premium cable channel, but brush it off easily by saying that it's a part of a package. But it wise to think about the credit card debts that you have in comparison to the money that you are paying to view that channel.
Dining out is similar to an infectious disease, for the moment that you hear about the recent food joints that your friends have visited you have the desire to follow.
There is another trait that has become very popular. Buying a car too often because you are more conscious of the inferior feeling that you, simply because you do not own any of the up to date vehicles so follows the car and the loan!!
There are some who are gizmo struck and want to possess the latest gadgets.
In the wake of the fast food mania there are many who end up eating which causes obesity, and end up going to gym's which are more expensive.
With the holiday fervor getting in, there is the deepest urge to get hold of all the new stuff such as clothes and gifts which might be hard to afford but old habits die hard.
Lastly, there are those who cannot tell what their monthly expenses are because they simply do not follow a budget or do not discuss financial issues with the family, or maybe they do not have a high yielding online savings account.
The traits that have been discussed above are certainly not bad in themselves, but due to the way they have been treated by consumers, who can hardly hold themselves back to purchase their favorite items. Unless one can seriously decide to change one's ways, one would haplessly remain in the list of not so well off.
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