Being optimistic and thinking positively about your financial future is a good thing, but don’t get fooled by your thoughts and don’t blindly follow your emotions.
It’s important to understand that what you believe about money determines how you will be using it. Your money beliefs might actually matter more than your income, your expenses, or your chosen career.
At their 20s, people tend to trick themselves that they are doing okay financially and that they still have time to save money, however, you shouldn’t be waiting for your 30s to sort out your financial situation, start NOW and don’t let lies fool you no matter how convenient they sound.
For this matter, here are eleven money lies to stop telling yourself before it’s too late:
1. I don’t make enough to save money
Just because you don’t make enough money to cover your needs right now doesn’t mean it’s impossible for you to save. You shouldn’t be waiting to earn more to start saving, the goal is to save as much as you can, as soon as you can!
If you’re going through a crisis, a job loss, or if you got sick, an emergency fund can be a lifesaver.
Make saving a priority and do it regularly, it doesn’t matter how much you save; you can start by 10 up to 20% of your income. Try to adjust your spending habits: Stay away from restaurants, plan your meals, buy used stuff, shop less, use coupon codes…etc.