You might think you are good with money, but the chances are you have a few habits that take a knock to your wallet. You might not realise it, but these habits can have a real, longer term effect on your income potential. These are the worst, money limiting habits you have, and some suggestions on how to beat them:
You don’t invest in yourself
You are the biggest force for making money in your life, so you should invest in your own growth. Equip yourself with the skills of greater knowledge, health and experiences and you’ll get far better results from your future work or projects, leading to making more money.
You don’t negotiate
If you never negotiate you are failing to get the best out of the situation. You can negotiate on everything, but there is one thing you should always negotiate on. If you are confident in your skills, experience and ability, your salary is the one thing you should make sure you get at the right level. There’s no need to worry about negotiating, think of it as simply asking.
You’re too focused
Your work day probably consists of you getting your head down to focus and trying to work to deliver the project at hand. Great, this is what you have to do in work but not so much in life. Tunnel vision interferes when you need to diversify to make more money. The best way to make more money is to have several streams of income. It protects you from any major disruptions like losing your main job. So try to not get too ‘bogged down’ by the day job, and set your sights on getting at least one ‘side hustle’.
You’re too loyal
Don’t stay in a position because you feel loyal to the company if you know you are being underpaid, or you are turning down better opportunities elsewhere. Taking the decision to stay in a company and role that you know has limited potential and is not going to offer you the growth you need is the ‘comfortable’ decision. Don’t sacrifice your goals for your loyalty, you’ll be doing a disservice to yourself, and will be limiting your own earning potential.
Having a Monese account is one way to keep on top of your money, so you can eliminate any bad spending habits you may have. Using our app you can make payments, instantly check your up-to-date balance, review your transactions, get paid to invite friends – plus much more.