Are you paying attention to the little things?

It is so funny how the very little things we overlook are sometimes the things that hinder our success. I have come to understand that it is not the one big thing you do that makes you successful rather its the little things you do right everyday that makes you successful.

Today i am going to be discussing personal finance and how the little things you overlook may be affecting your finances.

We all know that debts are bondages rather than break through even though we are very happy when we incur them, most especially when they come at perfect timing. However they come at a huge cost to our finances when we are not deliberate about getting out of debts.

Credit card has been a huge blessing to many individuals in the United States including myself. Many people survived on credit card while they were in between jobs even though it wasn't the smartest thing to do.  Credit cards have their good side but the damage it can bring to your finances far surpasses the good that comes with it

I remember early this year when i was planning to get rid of all my debts. I came across my credit card statement and noticed what was written under the balance of $3,668.86. Somewhere in my statement in little prints was the headline "minimum payment warning"  if you only make the minimum payments each period, you will pay more in interest and it will take you longer to pay off your balance. For example if you made no additional charges on the card and paid only $89( my minimum payment) each month, it would take you 15years to pay off your credit card and you would have paid a total of $9,502. Underneath that statement, another statement followed and it read, if you increase your minimum payment to $138 (a difference of $49), you will pay off your balance in 3 years and would have saved $4,543. It was like a light bulb suddenly came on in my head. I was amazed at how much damage i was doing to my finances.  This case was very similar to me pouring water into a basket. It was so convenient to make the minimum payments yet it would have cost me double with some change to live that convenient lifestyle.

Your situation may be different from mine. Yours could be a car note or a personal loan or whatever debt but you need to read the fine prints to understand how much damage it may be doing to your personal finances.  I understand that not all debts do the same amount of damage but the job of this post is to get you thinking and paying attention to little details.

For others, it may not even be debts, it could be how you spend your money and what you spend your money on that may be hurting your personal finances.  Are you investing in more clothes and shoes than you do with your savings account?

Pay attention to every thing that may be hurting you and preventing you from achieving your financial goals. 2017 has got to be different. You have got to be deliberate about your goals and how you intend to achieve them.

I wish you all the best as you work towards becoming a better you.

Happy Friday and don't say TGIF, say TGICWOM  which means Thank God I Can Work On Me.

Lots of love

Your very own Adey

Follow me on IG @ askadey_