Know About What is your money secret? - How Webs

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Friday, June 28, 2019

Know About What is your money secret?

What is your money secret?


You hide something ...

Money Secret - That secret recording, your secret recipe, your secret crush or your secret talent! Everyone has a secret. Even in money matters. In fact, only a few people would really know your real money registration, spending pattern or financial history - and there are certainly a few financial things that you have kept to yourself ... even unknown to your life partner. You probably had a spending or credit memory that you wanted to forget; unfortunately, for money 'past is over' does not really apply at all.

Know About What is your money secret


When did you last ask your partner about his spending history or did you give him or her feedback about his apparent money habits? Probably a long time ago, if not never. According to the book Get Financially Naked, Money to your Honey by Manisha Thakor and Sharon Kedar, money is one of the main causes of marriages in marriages, top reasons for divorce, and top drivers for stress in general. In general, men have fairly different spending patterns compared to women - and I am sure that many women will agree with each other, nodding their heads. It is mostly of illogical and tactless spending behavior and money habits that cause most of our financial accidents or failures and then generate financial secrets.

But what are the common money matters that we love from people around us, even to our partners. Here is an interesting list of money secrets based on our interviews.

Closed card

You were probably young and wild and then free when credit card issuing was hyped. It started when you had built up a pretty impressive credit or salary record to be eligible for a credit card. Whether you requested it or it was simply delivered directly to your home or office address, this ultra-powerful plastic card was once in the hands of the wrong person - you! Assuming it was a bottomless gift from the air, you have probably made uncontrolled and unnecessary purchases. Just awesome! In the beginning, the bills look very small and they don't even move a fingernail. But time and persistent bad habits are not the best friends. Despite making payments, your credit card accounts don't seem to be compromised and they just stay harder than you were when you spent all-powerful. Then, powerless, these card bills take over your normal spending pattern and your usual energy bills are multiplied by the card company's contribution to the pie.

Needless to say, a large proportion of credit card users who have lost control of their spending and have been overpowered by plastics have landed in the deep irresponsible card trap, resulting in debts with a constantly growing interest rate and fines. Some have tried to forget this sad experience, but I bet they never did.

Midnight Purchases

This relates to your purchases that are unknown even to your fellow traveler, probably because they were purely unnecessary, irrational, illogical or even illegal. For example, boys and spouses buy gems, diamonds and / or steam for their online games - while some may be unfamiliar with these, boys, especially gamers, would know these and would probably have had the experience of buying them at some point to continue in whatever game they play. Of course, these can be considered superfluous, especially if you have a tight budget. Extravagant shoes or bags that you do not actually wear or use can also belong to this section.

Deadly debt cycle

Have you ever borrowed money or applied for a loan to pay another loan or a credit card bill? Of course you have that! With or from a family member, a friend, a neighbor, or a real financial institution, you could have tried to resolve debt by borrowing again. Debt consolidation through a cash loan is not a bad route at all. But basically, if it is not correctly calculated and assessed, your consolidation attempt can lead to more difficult circumstances and further financial difficulties.

The short-lived sporadic survival within the debt cycle is really enlightening, but can also keep you in the gloomy zone for longer than you should have if you had made enough effort to pull yourself out of this financially deadly situation. There are institutions that can help, but a trusted friend or family member can definitely help you take the first step in ending the cycle, through their support and your sincere efforts.

Bamboo Bank

Have you heard about our kababayan who made a piggy bank out of a bamboo tube? In case you don't know the end of the story, all paper denominations were destroyed by beetles. The insects crushed almost all the money in the bamboo coin bank. Good thing he could save a few and have them replaced in a government agency with the help of a television program team.

Many of us have a secret place or place for a piggy bank at home or in our cars. Whether in the window, under the bed mattress, somewhere in the kitchen, or somewhere where nobody suspects that money would be placed in it. Unfortunately we also forget on many occasions where the real place was. Does family sound? But apart from forgetting the actual place where your money was placed, this money that is somewhere and is not saved in the bank or used in any form of investment, it is considered underutilized and may come later with a lower value, influenced in part by inflation and other factors. Your five thousand pesos might only retain 98% of their purchasing power in the future. Frozen money also doesn't really help in the economy without living in the communities.

But don't get me wrong - short-term saving in piggy banks is good and the habit is certainly encouraged, but saving at banks and investing are better options, especially in the long term.

Awareness is gold and therefore it is strongly recommended that you realize your money secrets, re-visit your goals and view the impact of those things on you, your life and your family and friends. Reveal these secrets to your dearest friend or partner for help or help. Remember that many important decisions in life affect people around you, your financial position, abilities, and habits are important. Without facts about the actual situation, the decision of you or others can be pessimistic. The truth hurts, but it will set you free. And with freedom comes peace, and peace contributes to better decision-making.

Secrets do not necessarily mean problems. They must not only emerge to our conscious brain, but also to our financially literate self, in order to be improved or appropriately addressed - because again, in financial matters, past is not always applicable.

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