3 habits that can make you poor even with reasonable income
If you have decent income but still have no savings, it might be because you have one of these bad money habits.
Have you ever wondered why you have little or no savings in spite of your fat salary? Have you ever tried to understand why you still borrow money from your colleagues before payday?
If you have never thought of these questions, congratulations, you're in the right place. This piece will tell you about the three habits that withdraw your money from your bank account and your pockets.
1. Spending more as your income increases
ADVERTISEMENT
There is no harm if you chose to raise your standard of living when you earn more money. But, if you are always looking for ways to spend your money, you may end not having any savings. The truth is if you increase your expenses because of the increase in your income every time, you may end up having nothing to show for your hard work.
2. Focusing on the present, forgetting the future
Despite the campaign and gospel about saving some of your income for the raining days, some people still wonder why they should save for the future they've not witnessed the future.
This kind of mentality only prompts you to spend your money unnecessarily because you consider only your present needs and forgetting the future.
3. Believing it's too early to save
ADVERTISEMENT
There is no point in anyone's life when it is too early to save money. Saving is saving and it's never too early to save a portion of your salary every month.
However, if you get carried away by the various pleasures money can buy, thinking you'll start saving tomorrow, you never can tell what would happen to your income tomorrow.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
World Cleanup Day 2023: Coca-Cola partners in pursuit of litter-free planet
What happens to your body when you fast for 36 hours?
Your favourite celebrities don't get dark underarms, here's their secret
Do you know the most popular birthdays in the world? The answer might surprise you
Meet the tribe in Nigeria where women have more than one husband
Unveiling the NEW Polo Oud Eau de Parfum: A voyage of intrigue and opulence
6 amazing health benefits of Iru (African locust bean)
Here are 6 health benefits of Garri
5 diseases you never knew African Velvet Tamarind (Awin) could treat
Every Nigerian woman is known for these 5 things
5 most beautiful churches in Nigeria
5 Africans who have won the Nobel Peace Prize
Pulse Sports
Super Falcons' Michelle Alozie drops football hot take
Kane defends Harry ‘One of the best defenders in history’ Maguire, calls for end to scapegoating
Provedel: 4 goalkeepers who have scored in the Champions League including Vincent Enyeama
Andre Onana: Critics of the Manchester United goalkeeper are missing the bigger picture
100 not out: Lewandowski moves closer to Messi and Ronaldo with century of European goals
Is Victor Osimhen in for a troubled season under Rudi Garcia?
Pep Guardiola laughs off Man Utd’s title challenge
Braga vs Napoli: Victor Osimhen aiming to break Obafemi Martins’ 13-year-old UCL record
Victor Boniface girlfriend: 8 Interesting things to know about Rikke Hermine
ADVERTISEMENT