Can Earning More Make You Poorer?

>> Saturday, December 26, 2009

I am truly sorry for my financial situation. Although I earn twice as much as I a year ago, now I'm broke every month directly after the payment date, and I'm in serious debt. What am I doing wrong?

Most people want to earn more money so they can improve their finances. It seems realistic to believe that if we get more money, should our money problems disappear. Why do so many of us hold less money when we earn more? ever i think about payday loan.

It is easy to explain the cost of living spiral to this phenomenon, to highlight it. But we should just blame hard on the economy? Then our own consumption habits, which have a contribution to earn-more-less problems?

The challenge lies in the fact that many of us spend a tendency to gain far more than our ability to win. In other words, our desire, things more and more money we have to buy them. Let's look at some of our thoughts and attitudes that we spend more than we should:

"I earn enough, I can pay"

We have a misconception that a big pay check to give us a license to splurge. As financial writer Charles A. Jaffe says: "This is not your salary that makes you rich, it's your money around." A person earns $ 30,000 a month and spends only JMD JMD $ 25,000 is better off than someone who is JMD $ 300,000, but costs of $ 320,000 per month JMD.

"I work very hard and I deserve it"

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