Some Basic Truths About Money Matters

By Brown Articles Published 10/28/2011 | Money Matters

How many of us have been taught the importance of money as children, as well as how important it is not to lie and when caught on that issue, have been punished in order to learn for the future. Now that we are adults no one is going to punish us for untruthfulness; however we do collect a self inflicted punishment as we are in fact being untruthful to ourselves and indirectly to our families.

Being honest is directly related to money matters and financial stability, as you need to be able to admit what type of capability you have for earning money and be aware of the money you can spend as a consequence.

Women, especially need to face up to the reality of certain situations and have to learn how to cope with them as well as being able to manage money matters. This is why financial issues are directly related to the truth. Denying your financial status is not going to help you get on in life, this is why it is important to get a plan going for money matters regardless whether you are married or single, you need to be aware of how and what money is spent on and be able to earn some yourself.

Do not hide from financial truths, such as the fact that you may be spending more than you should as this can harm you in the long run and you can actually become addicted to this way of life that can ruin you financially and your family as a consequence.

Unfortunately the trend of overspending has spread wide, this is because in past years many families and household saw their properties increase in value and financial plans and strategies allowed banks to be more lenient in giving credit card spending possibilities. Nowadays, many department stores and shops have their own credit cards, and this is a lethal strategy for families, especially for women who are usually those organizing and providing for the household needs of a family.

Studies have proven that with this new trend entices people spend more and too much as it stimulates people to buy over a long period of time. You need to realize how you are spending and why if you want to avoid this trap. This is why being truthful is fundamental.

Write down the facts on paper and accurately list every debt you owe or expenditure. Start tracking how and when you are spending your money. Go through your credit card balances and categorize, noting purchase dates. This exercise will tell you when and where you are most likely risking over-expenditure. It will also help you assess where your spending habits lie.

If you avoid the reality by not telling yourself where the truth is then you will eventually by confronted with fewer financial resources and constant debt as well as constant debt and less money to be able to meet your needs.