Have you not started your taxes yet because you are too nervous?
Do you have no idea how much you spend in comparison to how much income you receive each month?
Do you feel like your finances are impossible to understand?
Maybe you've fallen for a scam and want to make sure you don't fall for them again.
Sometimes learning what does work financially for you is more complicated than what universally does not. As tax season is in full force this spring, we wanted to share the advice of financial guru Dave Ramsey to learn the 9 ways you will always lose with money to help you stay on track for 2016.
1. Winging it.
When you go into your finances without a plan for how you will use your money, you will end up in a corner.
Make a plan – aka budget – with short term and long term financial goals for the year. Make your budgeting goals specific, because every dollar counts!
2. Waiting for the perfect time to save.
We know how easy these words are: “well now isn’t a good time to try and get debt free.”
There is no such thing as the perfect time, so start now.
3. Expecting help from the government.
Waiting for anyone, government or friend, to change your life for you is simply irresponsible. Take charge of your own life and your finances.
4. Finding Blame and Excuses.
This is another easy out for money struggles. Sometimes debt happens, but blaming it on anyone or anything will get you nowhere.
Even in the worst of situations, practice common sense and take care of yourself mentally, physically, and financially.
5. Relying on Payment Plans.
The simple answer Dave Ramsey gives to payment plans says it all:
“if you have to put it on a payment plan, you can’t afford it.”
6. Repurchasing products for their “updates.”
As technology continues to move forward, you may feel left out if you do not update to the latest phone or computer. Many companies know this, which is why those companies are constantly pumping out the latest version of something, complete with tinniest bit of change.
We know new technology is fun, but remember to put your finances where they matter first.
7. Listening to friends and family with their own financial issues.
Sometimes friends and family fall for bad advice. However, before their decisions catch up to them, they will rave on and on about their financial shrewdness to you.
Take a step back and think over their advice for yourself. If there is even a shred of doubt that that your friends’ decisions will not work for you, do not take the risk.
8. Living in the past.
Regardless of if last year’s finances were great, or if you have to dig yourself out of a hole, the key to finances is looking towards the future, not the past.
Realize any problems you’ve had, but then focus on the change you can make.
9. Dreaming instead of working.
There is a fine line with tip 8, however. As important as looking forward is, do not get caught in the clouds either. You’re welcome to dream about when you’re finally debt free...
But you have to put in the work too.
With these 9 tips in mind, you are now primed to get through spring, and really the rest of 2016, with smarter financial decision making.
Want more financial articles like this one? Let us know in the comments!