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We all know that feeling of thinking that you know what is going on with your finances, only to discover that suddenly you have much less than you thought. When this happens, it is always a shock, and it is something which can make you wonder how volatile money really can be.
But the truth is that there are generally only a few common reasons you’re losing control of your money. In this article, we are going to look at some of the possible reasons that you are always seeming to lose your money. Understand these, and you will be managing your finances like a pro in no time.
Your Data Is Scattered
If you want to make sure your finances are well they should be, you need to know what is actually going on with it at all times. You are always going to have a lot of data (i.e. receipts, bills) to sift through, and it’s important to be able to know where it is so that you can make sense of it.
If your data is too scattered you will have trouble keeping track of your money. Using a system which enables you to keep all of your budgeting information in one place, such as the power wallet budgeting app, can be invaluable. With this kind of help on your side, you will remain knowledgeable about the comings and goings of your money.
You Give In To Impulse
We’ve all been there – from time to time, you find yourself just giving into impulse in a moment of pure weakness. Did you really need those Prada shoes? Probably not. When this happens, it can sometimes be a little distressing, but it is also something which you can easily master and overcome if you know what you are doing.
Generally, these impulses come about as a result of something else missing in your life. So if you work on improving your overall sense of happiness and wellbeing, you should find that you are able to keep hold of your money much better. You won’t be trying to fill in the gaps with material things.
You Don’t Earn As Much As You Think
Do you always make sure to thoroughly look at your paycheck? You should make sure that you are actually getting in as much money as you think you are. This alone could be causing yourself financial troubles, and it is something that you will definitely want to put an end to if you can help it.
Make sure you know the complete break down of your check and where every penny is going. If it’s still not enough, you can always take on some side gigs to help supplement your lifestyle.
3/25/18 Happy Sunday! I don’t know why Sundays always turn into a cleaning and laundry day for us. I would much rather relax and do nothing!
Krystle Cook – the creator of Home Jobs by MOM – put her psychology degree on a shelf and dived into a pile of diapers and dishes instead. She is a wife and mother to two rambunctious boys, sweating it out in her Texas hometown. She loves cooking, DIY home projects, and family fun activities.