Dear Red Rider, your relationship with money is not determined by reality in most cases. You don’t think too much about financial issues because you don’t want to live within the boundaries of financial constraints. Most red riders could not be bothered with keeping a budget or signing up for employer sponsored retirement benefit plans (that is way too far into the future to worry about). You may find yourself spending more than you earn and struggling to keep up with your debt obligations. You pay your bills ‘as you go.’
You are actually hurting yourself by not paying attention to your finances. Although you see taking care of your financial life as some type of shackle, being careless about it actually elongates the ‘jail term’ because you are likely to continue being in debt and unable to build much wealth. Collectors may not be disturbing you with phone calls today, but they will soon start calling if you don’t change your ways by laying a solid foundation for a financially secure future. The good news is that you have got great potentials and are able to turn things around if you begin planning and seek good advice. Immediate steps you can take today are: becoming aware of your income and expenses, maintaining a budget and gradually paying off your debts without adding more. Try to cut luxuries and unnecessary expenses by thinking deeply before making plans to spend. Let me know if I can help, okay?
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