Roberta Oswald
Roberta Oswald, Valley Property Sales & ManagementPhone: (707) 339-0233
Email: [email protected]

5 Reasons Why Finances Could be Tight

by Roberta Oswald 04/21/2019

Have you been wondering lately about why you are always broke? You will need to ask yourself a lot of important questions to know exactly what you are doing wrong. These are the questions that will help you point out the primary reasons for your financial woes. 

Going by data made available by the World Bank, a considerable number of workers can hardly survive through the month and also there is an increasing gap between the rich and the poor. At this point, you need to take measures so that you do not join the league of people who never have savings. Here are some reasons you could be facing financial issues:

Reduced Income 

The mistake people make is that they base their spending plans on their gross income instead of their net income. The outcome is spending more than your earrings. In order to avoid being broke due to this situation, it is advisable to adjust your lifestyle according to your disposable income.

Medical Expenses

Medical expense is one of the reasons why many people go broke. Do you pay your medical bills from your pocket or you have medical insurance? It has been discovered a lot of people go bankrupt as a result of substantial medical bills. The best way to minimize your medical expenses is by choosing the appropriate insurance coverage.

Overspending 

When you spend more than your income, there is a high tendency of going broke. You should try and minimize some lifestyles that attract lots of spending. Examples of such lifestyle are driving posh cars, going on frequent holidays, dressing in designer clothes and many more. Such an expensive lifestyle can make salary earners go broke if they don't take care.

Costly Housing 

Many young adults spend nearly half of their income on housing. To avoid massive spending on housing, you should look for affordable housing that should not be more than 20% of your income. Staying in the city outskirt, getting a roommate, or renting a room that is smaller will help you save on housing.

Lack of Saving

Many people go broke today because of lack of money. A good practice that all workers should cultivate is saving for a rainy day. When you don't save money, you are likely to incur enormous debt when there is an emergency. Saving can put an end to debt and brokenness. You should know that nothing is too small to save.

About the Author
Author

Roberta Oswald

An enthusiastic polo player, aviatrix and fourth generation member of one of the oldest winery families in the Napa Valley, Roberta has lived in the Bay Area her entire life. She has over thirty years of experience in buying, selling and managing real estate in the residential, investment and commercial markets. Not content to just “get the job done”, she wants to exceed your expectations. Roberta believes in service with commitment. Utilizing the kind of knowledge that is obtained only through extensive life experience and an in-depth understanding of the area and local market, she works with you to provide maximum results. During her accomplished career, Roberta has refined important skills in communication, negotiation, attention to detail and sound business practices, all of which are vital to the success of her clients today. Please call Roberta directly at 707.339.0233 to discuss your real estate needs.