Sign in
Download Opera News App

Career Jobs

 

Career

 

Career Planning

Four Money Traps That Keeps You Struggling

Image Credit: Google

When you develop habits that are bad for your finances, you will keep recycling money habits that will destroy your financial future for many years. These are the four money cycle traps you need to become aware of.

EARN MONEY

You have been made to believe that you need to earn money. Because expenses are accumulating, you need to earn a living. This is what your parents did and society at large made you believe that you need to get a job to earn a living to survive. Because you want to earn, limiting beliefs make you trade time for money.  The thoughts, ideas and actions of the poor keep you in a money trap.

RAISE LIFESTYLE EXPECTATIONS

Because you start earning money, you start raising your expectations by increasing your spending on frivolous things of lesser value. These expectations increase your spending which starts affecting your finances slowly. You spend more on things you don't need that affects your finances negatively. These money cycle traps leave you broke because you spend to live up to the standard you have not yet attained.


NEED TO WORK HARDER/LONGER TO KEEP UP

When you are broke, you start working harder and harder just to get a raise. You dedicate long hours to work just to bring out the best in you and get noticed by your superiors to improve your salary, bonuses and others. When you get the raise, you repeat the same money cycle traps that enslaved you.

OVERWORK AND STRESS

As you overwork yourself and are fully focused on a single income, you get stressed because of the long hours at work. The overwork affects your health, you have to sometimes fall sick. You self-medicate and take days off just to rest all for the sake of money. Your financial state remains the same for years to come, only to realize that you have been repeating the same cycle.

Image Credit: Google

                CONCLUSION

Don't get trapped by this money cycle that leaves you in a bad financial state. Don't allow money to control and enslave you for many years. Develop yourself to break free from this money trap and learn to control your finances.

Image Credit: Google

Content created and supplied by: RAWLINGS10 (via Opera News )

Google

COMMENTS

Load app to read more comments