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4 Rules Financially Mature People Follow
Being financially mature means that you take responsibility for and are in control of your financial situation. Following these four simple rules can take you a long way towards financial maturity.
1. Don’t spend more than you make.
This may sound obvious, but I know for a fact that a lot of people don’t live by this rule. I’m not talking about the rare event of big purchases. I’m talking about frequently spending more on little things than you should, thereby squandering your savings or making your balance oscillate around the zero line. In most cases the reason for this is not a lack of common sense or an inability to do basic calculus. It’s a lack of overview. Many people quickly lose track of how much money they spend when they make a series of small purchases — especially when they pay with their credit card. I know someone who was so sick of this problem that he resorted to paying cash whenever possible, withdrawing daily from a cash machine only the amount he knew he needs each day. Sounds painfully annoying to you? I agree. But it is certainly better than being broke all the time.
Of course, there are more elegant options such as using a banking app to keep track of your expenses. The point is to do whatever it takes to know where your money goes, and to make sure you’re not overspending. And…
