With the U.S. still slumped in a recession and many still unemployed, it may be harder now more than ever to keep your head above water and finally get your financial goals in order. But while the future may be in sight, there are several character flaws many people have that may hold them back from realizing their fiscal dreams.
Impatience
This is directly tied to the “NOW!” syndrome, in which the afflicted buy things on credit for immediate pleasure and end up paying the price when a payment or two is late and the in the end the cost of the time is twice or more what it would have been. Buying on credit is considered an unintelligent way to get things that are not emergency-related, according to a recent article from CTLatinoNews.com’s national media partner LatinaLista.com.
Being a Stubborn Do-It-Yourselfer
This type of person plays their cards close to the chest and will proceed with wrong-headed financial decisions they know are wrong – just as long as no one else knows. Consulting with wise friends and mentors about major financial decisions is strongly recommended for anybody.
A Disorganized Mind
Being organized and writing a budget doesn’t take long and the rewards are many for the time and effort it takes to make a simple budget. A budget gives you access to information you would never have otherwise. When you have a budget, tough choices are easier — like selling the house and moving, selling the car, taking the kids out of private school, or having to buy second-hand clothing if things are tough.
