You will get troubles if you don’t have a financial planning budgeting. Credits cards will mess you up and borrowing money from friends may ruin your friendship with them.
Personal financial planning budgeting is a must for you or for your friends. Money can be tough to handle,
and many of our friends simply develop bad habits when it comes to using it. Most of us don't have enough money to buy what we want. To be economically fit, we have to be careful on how we spend our incomes.
Financial planning budgeting is the only way of solving unnecessary expenditures. However, it's very, very easy to get into debt with credit cards, where you "buy now, pay later." Credit cards are very easy to get, and they include Visa card, MasterCard, as well as those from retail stores. You don't need a lot of income to get access to these credit cards, either.
However, think before you do get one. Your view and credit card companies view is not the same. Credit card companies don't think, "Gosh, this person doesn't really have a lot of money, and may get into financial trouble if they get this card, so maybe we shouldn't give it to them."
Nonetheless, that's probably your situation, such that you don't have enough money to completely pay your credit cards off every time. And, if you get into the bad habit of putting purchases on your credit cards only to pay them off very slowly, you're going to end up maxing out on those credit cards, even to the point where you won't be able to make the minimum monthly payments.
It can be tempting to borrow money to get out of a situation like this, but that's another type of debt creation, and it's no better than the credit card. In addition, family members may want to help for a period of time, but after a while, they're going to get tired of helping you when they see that you are not exercising responsible behavior.
The same is true of your friends. Although borrowing occasionally is probably okay, especially if you have a major expense like medical expenses. This can put a strain on your friendships. If it's left to go too far, it becomes another bad habit that can damage or even completely ruin relationships.
One of the big reasons people develop these bad habits with money is that they have got no financial planning budgeting. They may have a general idea of where their income is going, but they don't have an exact idea where it's going, and they don't know how much.
You should do financial planning budgeting. You do this by simply putting it on a spreadsheet, or buying an inexpensive computer program about it. This will allow you to live a life that is free from debts. By doing this also, you will know exactly how much you bring in and how much you spend.
