Are you experiencing financial issues in your relationship? Most people are employed yet at the end of the month they barely have enough money to pay their bills. People waste money in the following ways.
1. Being afraid to invest
Investing is very important as it enables one to make extra cash. People don’t invest because they feel satisfied with what they have at the moment, while others believe they don’t have enough money to invest. However risky investment may seem to be, it’s the best in enabling one to save money.
2. Misuse of credit cards
It’s important to identify the right credit card for yourself so as to avoid misuse of cash. One should view the use of credit cards as being a convenient way for living as opposed to building one’s score hence saving money. Learn to use your credit cards well.
3. Failure to think of the opportunity cost
Staying at a lower job even if it’s clear that getting a promotion is difficult or failing to invest the money that one has saved is a form of wasting money. When you do not think of the opportunity cost you lose your money. Many people lose millions at the end of the year due to not thinking about the opportunity cost.
4. Failure to ask for a pay raise
If you don’t negotiate for your salary or raise your rates on any contracts you, this amounts to losing money. Keeping quiet is never a solution. Negotiate your salary where you can to make some more money. If there is no pay rise think twice.