These Two Habits Are Hurting Your Finances — Here’s How To Recover

Everything you’ve been taught about money is wrong

Photo by Andre Taissin on Unsplash

There’s a pandemic that predates 2020.

That pandemic is poor money management. For decades, we’ve seen how someone’s understanding of money helps or hurts them.

Jungle Scout’s Q1 Consumer Trends Report reveals more than half of Americans (56%) claim to live “paycheck to paycheck” and 48% have experienced unexpected financial setbacks in the last 3 months.

Lack of financial knowledge leads people to become victims of account-killing habits. These habits are contagious and spread from person to person. Once we figure out the symptoms of our hurting bank accounts, we’ll be able to provide a vaccine known as financial literacy.

Saving Money Is Hurting Your Finances

You heard that right. Saving money is setting you back.

Saving money itself isn’t the problem. Saving is bad for those who know what to do with their money.

Your parents meant well when they told you to save, but your parents lived in a different time. The continued rise of inflation shrinks purchasing power year over year. This means the $10,000 you saved a year ago has less purchasing…