Why is it so difficult to end the month and reach payday with extra
money in the bank?

Life as we know it has the potential to be exciting and unique (Provided we have enough cash). We all have special capabilities to exceed with our personal strengths, but yet we still continue to make wrong decisions that people before us have made. What does this have anything to do with reaching the end of the month and have some cash till payday in your account?

It seems that despite the fact that people before us have made bad financial decisions; we still follow in their footsteps: It is frustrating to see how so many people fail to have enough cash till payday and manage their expenses wisely. In the article below we will bring up some of the most common reasons why and where people make wrong financial decisions when planning till payday. Hopefully, we will help try to break the patterns that were molded. Doing so, we can think a little out of the box and reach financial prosperity. Let's get to work!

Buying a house:

• A bad decision for instance, can be relying on a friend's opinion and not on the true situation in the market (therefore we are taking a big risk buying on bad terms, paying to much money, bad neighborhood).
• An additional bad decision can be building a house with a mortgage and at the same time living in a rented apartment- actually you are paying double!
• The impact of a mortgage on monthly financials can be devastating and result in no cash till payday month after month.

Buying a car:

• Buying a car with out considering how much it will actually cost to maintain it in the future (gas, payments to the garage) is a poor financial decision.
• Other examples of poor financial decisions can be not considering the option of leasing a car instead of buying one.
• Buying one or more cars when they are not needed.
• The expenses involved in using and driving a car can be unexpected. These unforeseeable event can leave you stuck without cash till payday mid month crisis.

Savings: (Cash Till Payday)

• Not having enough knowledge about our savings options can create a possibility that we are investing our cash in the wrong place.
• Saving or investing too much can easily put you in a situation with no cash till payday

Management of the home economy:

• Most households are not completely aware how to control expenses and how to set financial goals for the future.

Mortgage:

• Most people are not fit for taking out a large mortgage.
• Taking a mortgage needs a lot of financial planning to avoid being left with no cash till payday and may require you to take a payday advance once in while.

Energy expenses:

• Uncontrolled electricity, gas and water consumption can cause extra needless expenses.

Events:

• Big events such as weddings, sweet sixteen’s, bar/bat mitzvah which are not planned out correctly (catering, hall, band) can result in a very large amount of money spent, or a need for fast loans.

Credit cards:

• We spend much more than what we make and can afford, which creates bad credit records, and owing money that you do not have.

Food:

• Bad financial decisions regarding food can be- spending money on junk food (in the supermarket when it is not necessary) or eating fast food, when you can cook at home.

Going outs:

• We spend a lot of money on movies, foods, and drinks without thinking whether we have some cash to spare till out payday.

The bottom line: In conclusion, if we look at all of these components from a larger perspective, every one of us can see where they are spending needlessly. Try to think of alternative options for how you can do things differently. Don’t be afraid to think out of the box and maybe to pass on some luxuries. In the long run you will have more money in your bank account at the end of the month, and a healthier and happier life since you will have financial freedom to do what you really want! Be that special and exciting person that you can be! ...With extra Cash till Payday :)

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