When buying any product or service, always ask what is the real cost? There is always a stated price and a hidden price. The hidden prices are monthly maintenance and up-keeping fees, taxes, service fees, upgrade fees and other fees. Know the full prices before making any purchase.
Many people that grow up in a certain place assume that that is the best place for them. The city or region you live in will have big impact on your money and how much of it you have. Sometimes moving 20 miles away from a major city will have a huge impact on how much you keep in your pocket.
One of the first steps to taking control of money is figuring out how much time you can and will devote to the subject of money in your life. Do this today! Do you want to spend a lot of time on it because you want to retire in ten years? or are you willing to only give up an hour a month.
Find this number.
Are you just putting out the money fires in your life? or are you building a solid, disaster proof financial foundation. Living paycheck to paycheck can get you into a position where you do not have the time to focus on really building a financial foundation. Maybe your situation is so bleak that you don’t even want to look under the hood. Things are not going to improve by themselves, they will need your input. Changing money situation will require your energy. Decide today if you are putting out the fires or working on that solid financial foundation.
People can be categorized into two groups. Those that can handle risk and those that avoid risk. Being one or the other will significantly impact how you treat money.
Do you handle risk? or do you avoid it at all cost?