Is Your Value System the Reason You are Still Broke?
In a recent post, 4 Reasons Why You are Still Broke, Kara Stevens outlined why a lot of people may have a misaligned value system that keeps them broke. According to Stevens, “A lot of us walk through life in a financial fog spending haphazardly because we are not paying attention to what we really care about, what we really love, or what we really need. Instead of customizing our lives and, by default, our budgets to reflect our priorities, we emulate the financial habits of friends or those on the media who are overtop in all things: clothes, entertainment, homes, dining, and travel.
Watch this entertaining video below courtesy of Buzz Feed Yellow, “Just because you’re broke doesn’t mean you have to be broke.”
“To identify what you should be spending your money on, jot down what you love doing in your free time and the items on your “bucket list” and see how much of your money is currently funding those passions. If you find that you love “fine dining,” but do not care much for movies, clothes, or a fancy apartment, then you should focus most of your discretionary (guilt-free) money to that activity and eliminate spending in the other areas. On the other hand, if you are dying to travel, but are spending a whole heap of money on an apartment that you don’t really care about or paying a hefty car note, it is better to trade-in the costly rent and monthly car payment for a cheap place and sell the car so you will have money to explore the world.”