What are the 5 common mistakes that people make on Payday? In this video I look at the mistakes that we're often tempted to make when money lands in our bank accounts and how they impact us in the longrun. These include impulsive spending, neglecting to manage debit orders and the lack of a financial strategy.

Key moments include:
-Avoid impulsive buys on payday to prevent financial setbacks later in the month. Setting aside a specific day for treats can help maintain control over spending habits.
-Creating a payday routine is essential to prioritize expenses, manage debit orders efficiently, and allocate funds for savings and other financial goals.
-Importance of having a budget to track income and expenses for better financial management and savings.
-Negotiating debt, salary, and savings positively impacts financial control and intentionality. It empowers individuals to manage money wisely and avoid unnecessary expenses over time.

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#finances #payday #budgeting

What to Expect:
00:00 - Intro
00:51 - Mistake 1
03:11 - Mistake 2
05:04 - Miateke 3
07:22 - Mistake 4
10:36 - Mistake 5
13:19 - What to do about it

DISCLAIMERS & DISCLOSURES
This content is for educational and entertainment purposes only. Nischa does not provide tax or investment advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific person and might not be suitable for everyone.