Scapegoat
[skeyp-goht]
noun
1. a person or group made to bear the blame for others or to suffer in their place.
Financial Irresponsibility:
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Financial irresponsibility, which is defined as the failure to meet one’s financial responsibilities promptly, including, but not limited to, knowingly ignoring on time payment to debt(s) owed, and/or putting the blame of debt owed onto another person other than yourself.
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"The best way to deal with debt is to address it now and not later."
FACT: By the year 2030 Millennial’s will have higher stress levels caused by stress than those who are Baby Boomers.
Sunk Cost Fallacy
Reasoning that a further investment is warranted on the fact that the resources already invested will be lost otherwise, not taking into consideration the overall losses involved in the further investment. (cited)
- Your time is an investment
- Your job is a resource which generates the capital you earn
Daily Evaluation:
- Have you ever taken on a job where your commute expense equals the total amount of your check?
- Pay yourself not for the job.
- Consider looking for a job that is closer to home. Doing this will lessen your total commute expense and allow you the opportunity to put your disposable income into a savings account instead of using it as petty cash.
- Disposable Income: the amount of money that households have available for spending and saving after income taxes have been accounted for.
- Petty Cash: is a small amount of cash on hand that is used for paying small amounts owed, rather than writing a check. Relatively small amount of cash kept at hand for making immediate payments for miscellaneous small expenses.
- Consider looking for a job that is closer to home. Doing this will lessen your total commute expense and allow you the opportunity to put your disposable income into a savings account instead of using it as petty cash.
- Pay yourself not for the job.
- Have you ever said to yourself “because of my educational status or personal setbacks this is the only job that will hire me?”
- Pitch your skills and experience not your degree.
- Honesty is the best policy. What you do not share will come to the surface.
- Do you like nice things?
- Create your own Rules to Excessive Spending Habits
- Examples:
- Open two different bank accounts one for savings and one for bills
- Coupon instead of paying full price
- Be your own debt consolidator
- Examples:
- Create your own Rules to Excessive Spending Habits
THE CHOICE IS YOURS…. START TODAY!
sentenced2debt 