Shopping can be an amazing experience, yet being a smart shopper will eventually help maintain a healthy financial statement.

It is amazing what people go through to impress others. Ever heard of the saying “ Keeping up with the Jonesses ”? If you are smart enough you would have figured it out that the seemingly rich JONESSES went broke long long time ago. So, Why do people want to be like some one else… always in competition with others to look better in every sense and to keep impressing people who they don’t even like in the first place.

If your co worker bought a house in a rich neighbourhood Does it bother you? If a friend of yours is driving a 09’ Model does it make you feel a little left behind ? OK. The purchase does not have to be that costly. Let’s say your girl friend bought an expensive, elegant shoe..does that leave you feel a little unstable? Well if that’s the case you need help before you sink deep in debt.

Being financially fit is similar to being fit physically. I use to be a little out of control with my finances and I learnt that I needed radical surgery before hitting rock bottom. Imagine being financially over weight. Think that you are 300lbs in debt. What would you do if that was the case. Would you still pump in more rich food into your system by producing your credit card at the counter with the guy with a cash register? Would you keep buying expensive shoes with the money you don’t have by producing your magical plastic card which is almost at the limit? Or do you think it’s time for a little honesty and that you may head for real trouble if you don’t hit the financial treadmill now!

Be smart before it’s too late. It is said that money problems are 80% habit oriented and 20% head knowledge. One would think to be good with money you need to have a good head with all the qualifications that one could think in FINANCE. Absolutely not! It’s got to do with your habits. If you have bad habits when it comes to your finances, you’ll be scrambling through or be broke most of the time. If you wait to rush to the mall to bust the pay that you got and hope the last 100 dollar bill will stretch till your next pay, you better stop fooling yourself and get into changing your habits before you end up in a busy street with you begging bowl. STOP! The foolish ways of leading your life and get to be the smart person you want to be.

In this issue we’ll deal with the most pressing issue in North America. Your Financial well being will depend on two very important things. Remember, we are dealing with Financial over weight. The focus should be to lose as much as you can of those bad habits that you gained over the years. One of the biggest issues that people deal with is the angel that came their way through a credit card that looked so innocent and so cute, which prompted them to run to their favourite malls and flash it at every cash register without thinking twice. Credit cards are blamed as one of the biggest reasons behind the increase in personal bankruptcies in North America. It has the power to rip families off and leave your marriage in rocky ground.

It can ad unnecessary stress and embarrassment caused by collection agents revealing your credit worthiness to your coworkers. And with all the stress and agony it causes it comes at the highest interest rate on the dollar. I see credit cards as a thief in my wallet always wanting to catch the action by reminding me ; Hey! I have more room in my card… Sure, you can afford it… let me pop out of your wallet and by the item for you. Ever felt like that when you are at a mall? Well the two most important things that you have to do in getting financially fit is

1) Stop applying for any new consumer Loans / Credit Cards. Although companies would offer credit cards to you at great rates, make sure that you refrain from ordering more thieves permission to your Wallet / Purse. If the bank thinks you are credit worthy ask the officer for your lunch money in cash. You’ll see how fast the banker would lose interest. I call this exercise “ getting started in the Financial Tread Mill”

2) Stop carrying a thief in your wallet / Purse Now, that you’re on the Financial treadmill it’s time you run to get rid of those ugly, fatty stuff of your financial body. Without delay or any hesitation what’s so ever, remove all your credit cards from your wallet / purse till you get financially fit. Remember, we’re dealing with habits. In the same way you made it a habit to always carry a credit card in your wallet / purse you make it a habit to carry only the cash you require for the day. Get rid off the use of any plastics including debit cards for a while. You need to feel the cash you spend. It is way more difficult to reach into your wallet / purse and flash a $20 real currency note to that of a debit / Credit Card. Get into the habit of dealing with cash. You’ll feel Rich and shameful when you see others flashing their credit cards on purchases as you use to do! It’s time you kick that thief of your wallet / Purse and begin your new life and I wish you well!

Note : if this article encouraged you, please let us know : info@canindolanka.com

By Romesh Angunawella