7 ways to get financially screwed in 2017

Are you hoping to get ahead financially in the New Year? Or you just don’t want a repeat of the financial troubles you had in 2016?

1. Live above your means

In this day and age when people are trying hard to live below their means and even snub things they can afford because of the uncertainty of the economy, purchase things you like but can’t afford just to please your ego or satisfy an unnecessary craving is sure to get into a financial mess soon.

2. Save only after you are done spending

This can only get you to one place; trouble.

The truth is that, you’ll never run out of things you can buy. You will always have things to spend money on.

So the financially prudent way to live is by taking out your savings once you receive your income then spend the rest.

3. Buy everything that is trending

The way trends come and go these days is so alarmingly fast.

The hot phone in town today is surely not going to be the one trending tomorrow.

You cannot be following trends at the expense of your finances except you are hell bent on being in a financial mess by the end of the year.

4. Depend on one source of income

Ask people who lost their jobs last year or people who are still being owed salaries.

They’ll tell you that one of the greatest mistakes a person could make in this uncertain time is to depend on just one source of income because if anything goes wrong with it, you’ll be without money immediately.

5. Get a bank loan

With skyrocketing interest rates and banks seriously looking to take the properties of their debtors away soon, taking a bank loan might really be a bad idea unless you’re sure to get a tree of money to repay the loan with the interest.

6. Surround yourself with complainers

This one too is sure to get you screwed.

There are some people who have made it their duties to complain about every government policy, the state of the economy and every conceivable thing.

The problem with this kind of people is that they never see anything positive anywhere and when you see, they discourage you till you become like them.

7. Get yourself involved in every conceivable Get Rich Quick scheme

For example, MMM, Ultimate Cycler, Crowdrising etc.

Written by Iyebiye Olawuyi.