We love our friends and family, but some of them can be a hazard to our financial health. Have you ever taken the time to consider the impact these people have on your finances? It’s possible you might not have noticed the negative impact the people in your life are having on your wallet.
You might need to have some tough conversations or use your wits to deal with these assaults on your budding wealth. But no one ever said becoming wealthy was easy!
Be on the lookout for these folks:
1. The struggling businessman or woman. This person is full of great ideas that seem worthy of a small investment. Unfortunately, having great ideas and executing them are different skills. Avoid investing money that you’re unlikely to see again.
2. The partier. The partier barely needs an excuse to celebrate. Cleaning out the closet is a good enough reason to head out on the town and drag you along for the ride.
6. The wealthy friend. Your budget might call for a movie rental and a frozen pizza, but the wealthy friend doesn’t want any part of frugality. She likes to go to the expensive wine bar and eat the fancy sushi that runs $200 per pound. It’s embarrassing to say “no” all the time.
Avoid allowing your friends and family to drag down your finances. Stick up for yourself and be back in charge of your money.
Increasing Financial Awareness and Building Financial Stability