There are many people who are struggling to not only make ends meet, but also to find the ends in the first instance. These people aren’t always poor, they aren’t always unemployed, and they aren’t always blowing their income on substances that a police officer would frown upon.
Some of these people are citizens who, just like you, stop at a stop street. They earn salaries that you and I only dream of and they like to believe that they have enough self-control to forgo that holiday in the Maldives in favour of a holiday next-door, wherever that may be.
But none of these things mean that their finances are in as good a condition as it should be, no matter what their ages are. Some people need debt help more than others, mostly because they still believe there are certain things that keep them from greatness – in their personal life as well as in the spreadsheets that track their expenses.
You believe you can’t afford to save
They’re not too far off on this one, except that they forgot to insert a ‘not’ into that sentence. So it should read ‘You believe you can’t afford to not save’. Poor people are often the biggest savers. This sounds counter-intuitive but research has proven it. Few middle-class people save money and too many see credit cards and other easy types of easy credit as a panacea for all their financial ills.
You believe you should first pay off your debt
This is not a bad belief to hold, except that it doesn’t protect you when something happens – unexpectedly. Then it’s back to credit cards, overdrafts and payday loans. Try to save money and try to pay off debts at the same time. It may be a good idea to get debt help before tackling something like this.
You believe that credit cards are meant for emergency use
A belief such as this is at least one step up from the one where people claim credit cards are meant for everyday purchases – shoes, cake, handbags at half-price. But this can cripple any financial plan, even with the best debt help. There is an old saying: cash is king. Live the saying and use your own cash when there’s an emergency. Nothing feels sweeter than that.
You believe that you’re going to win the lottery
Or marry rich. Or patent something that’s going to make you rich. While it’s enjoyable to daydream, there comes a time when we all need to realise that very few of these daydreams become reality. That is why we need to work harder and spend smarter. And the best thing is that it only takes a small amount to getting started.