I've started my professional life very early, I was 12 years old at that time. I didn't have to, we've always been more than financially stable as a family, never had a single problem with money, but I always wondered how good it would feel to buy my own stuff with my own money!
So, I started looking for every possible way that could help me make money, I started my professional life by searching like everyone else: "how to make money online"
I tried every way to make money, and after several trials I was able to make money after 3 years when I was 15 years old. I always thought that my problem is that I have a low income; my pocket money, and that once I make more money my problem with money will be solved.
Years later, I discovered the problem had nothing to do with making more money, and that could only be seen looking back in retrospect.
Since I was very young, I had a tendency to spend the last penny I have, it's like I never felt relaxed untill I spend that last penny, and it took me a lot of years to figure this out but mainly it's because I keep thinking about all these things I can do with money, once I spend it I'm empty-minded.
I never did any form of budgeting, I was never taught anything about how to manage my money when I was young, and the problem is much bigger than that. I never had an actual wishlist that would help prioritize the things I need over the things I want.
Also, a lot of beliefs involved; I always felt that no matter how much I have it's still nothing so I might as well spend it. Then suffer because I don't have quarter that I have spent.
I always believed there's more money to make and while that's something super positive that could help anyone accumulate wealth but I used it in a bad way; it made me take bigger risks and borrow money on the basis of believing I'll make more money in the future.
I never had an emergency fund, I never really saved for a specific purpose, and the moment I had the money the only thing I could think of is how to spend it in a way that would achieve the utmost pleasure.
This led me to wasting a lot of money, being in debt multiple times, spending most of my life broke, and not being financially stable or secure. Which caused me a lot of trouble throughout my life.
What I wanted to say today is; you might spend your whole life trying to fix a problem without it even being the real problem. My problem was I had bad spending habits, what I was trying to do is make more money.
Oh for sure spending habits are such an important foundation for financial security and wellness. There’s absolutely a lot of work needed to be done on wants versus needs. I’ve been really trying to focus on the needs over the wants and it helps!
Hopefully you can turn a corner and take these things you’ve learned to improve your financial situation!
Exactly, it's not easy but it's the only way for a financially secure life. Thank you, I hope I'll improve over time with managing my finances.