The ABCs of Managing Money
Quit Negative Thinking
Automatic negative thoughts (or ANTs) can be damaging to your success. You should try to keep yourself from automatically assuming that you aren’t going to be able to accomplish something, or that you would, no matter how hard you tried, fail. You have to kill those ANTs as soon as they begin to come in. At first this may not be easy, but if you are keeping an eye out for them, and instantly turning around to think something positive, then you will be able keep those negative thoughts at bay until they are no more.
Reduce Costs of Essentials
If you are not able to take on extra shifts or take on a second job, then maybe it’s time to consider if you really NEED to have DVR or if you can downgrade on your internet. If you have a cell phone, do you really need to have a home phone too? There are many areas you can consider when it comes to cutting costs. Many families have chosen to eat at home more. This also contributes to more quality family time as well.
Stay Focused on Long-Term Goals
While short term goals are good – it’s good to think about your long term goals. You will want the short term to add up to the long term. If your end goal is to own your own home, then you will want to get rid of credit card debt and the like, as well as start saving for your down payment. These short term goals are going to allow you to attain your long term goal of finally owning your own place.
Trouble Won’t Find You, You Find Trouble
Many people blame credit card companies for the problems they have with their debt. However, you are the one who chose to open the card. No one forced you to do it. No one forced you to use the card either. So it is no one else’s fault. Which is why you need to take control. You need to take responsibility. Once you do those things, you will be on the path of financial independence. Stay away from it if you think you may have a problem later.