There are many financial bad choices when it comes to Money Management and most of them do not need a Wall Street person to advocate the right path. Below are some foundational points that actually make a different if implemented.
The best form of discipline is to be brutally honest with your behavior.
Bad Money Habits Include:
Lack of Accountability,
Lack of Desire to Self-Educate
High Cost Living, expectations NOT aligned with your money.
Below are some tips to consider.
1. How Much Do You Earn
It is so surprising that most people do not know exactly how much they bring home. It is imperative to know what your gross pay is and more importantly what your take home pay is.
- Gross Pay – this is before any deductions are applied to your wages
- Net Pay – this is after taxes or investments are taken out
- Take Home Pay – this is what you receive as a check