Bangalore: Most people think that financial troubles affect only the impoverished. With the advent of plastic money, we have learnt to postpone payments of items. This makes us more vulnerable to financial despair. As many people still believe in this, here are a few statements said by them as reported by Craig Ford of MoneyHelpforChristians –

1. “I Will Begin Saving from Tomorrow”

This is a classic case scenario. People who believe in this philosophy will never be able to manage their finances. The very key thing demanded by money is constant monitoring. The moment we fail to do so, money starts slipping from our hands. We don’t have to monitor it every day keep a daily account of your finances though. You can even do this at the end of the week. Start saving from the day you get a job. It need not be a lot but this habit of saving will continue in the future. This is what is required of you. Save little by little.

2. “I Believe in Installment Payments”

Paying in installment is every salaried person’s dream. This dream, however, turns into a nightmare when we end up paying more in the process. Paying in installments is a good deal for certain things but not all. If you have enough cash, pay in cash, if it does not tax your other areas of livelihood. The interest one pays on installments is the reason of worry here. We sometimes pay more when we take the installment route.