Yep, I know you hear this one all the time. But that’s how important it is. The worst of the financial habits that keeps you broke is not budgeting. You have to have a budget. Even if it is a no budget.
Prioritizing investing in your budget is guaranteed to make sure that you are investing more than you are buying. If you are someone who is not investing, you will continue to feel broke for most of your life.
Ultimately keeping up with the Joneses doesn’t just keep you broke, it creates a lot of anxiety and perhaps some unrealistic expectations. Buying things you know you cannot afford doesn’t make you feel good or make you happy.
Ahhh don’t we all love getting raises. Part of the reason we love getting a raise, is because we need more money as inflation takes over the world a little more every year.
The emergency fund should only be used for emergencies and once you reach your goal for the fund, you do not have keep putting money in it.