Saturday, January 29, 2011

5 Phrases You Shouldn't Say About Money

1. "Money Comes And Goes" - While it does make sense that the money you get is eventually spent, this phrase can have a negative impact on the way you think about money as a whole. I usually hear people use this phrase to justify a significant loss in the stock market or when they found out that paid too much for a product or service.

2. "I Want To Be Rich" - Yeah, who wouldn't want to be rich right? People tend to look for the fast route to getting rich but like they say: "If it were that easy, everyone would be rich". You should always try to improve your financial situation but start with things you can control such as paying off your credit card bills instead of focusing on things you can't like winning the lottery.

3. "I Don't Need To Invest Right Now" - You will find that the younger you are, the less likely you are to invest in your future financially. There are plenty of ways to start investing no matter what age. You should start off by educating yourself and seeking professional advice on investing.

4. "I'm Living Paycheck To Paycheck" - Unless, you truly have no other form of income and everything you're paying is absolutely needed, there is no reason why you should be living paycheck to paycheck. Can you pick up a second job? A hobby that pays? Consolidate your debt into a lower payment? Pick up extra hours? Cut back on your HD Sports Channels? Stop telling yourself this, it's negativity that will eventually be accepted by you.

5. "You Only Live Once" - I hear this phrase so much for so many other categories it's amazing. These categories seem to have some correlation with one another - they're bad for you! Have you ever declined a cigarette when offered and they told you this phase? Have you ever been asked to go out on a weekday night before a big final? Okay, you get what I'm saying. So with that said, spending money frivolously isn't something to throw this phrase at. Spend less than you earn and keep a budget.

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