She Strengthens

Facing Financial Realities: 6 Hard Truths to Accept

As I reflect on my financial journey, I realize that making smart choices and tracking my expenses only gets me so far. There are certain financial realities that I’ve been avoiding, and it’s time to confront them head-on.

The Unfairness of Life

Sometimes, I’ll have to pay for things that aren’t my fault. Like the time someone hit my parked car, and I had to foot the bill for repairs. It’s frustrating, but my dad’s wise words still resonate: the sooner I accept this reality, the better off I’ll be. Having a rainy day fund helps, but it’s not a guarantee that unexpected expenses won’t arise.

The Purpose of an Emergency Fund

I’m proud of my emergency fund, but I need to remind myself that it’s meant to be used eventually. Tax season, apartment deposits, and unexpected expenses will drain my fund, and I’ll need to rebuild it. The key is to have a hustle that can help me replenish it quickly.

Credit Cards Aren’t the Enemy

Credit cards still intimidate me, but I’m learning to approach them smartly. By spending within my means and making timely payments, I can use credit cards to my advantage. It’s about managing my money properly and understanding that paying off a purchase over time can be beneficial.

The Cost of Impulse Spending

Blindly choosing to spend money always leads to regret. I’ve learned to carefully monitor my expenses, especially since I’m now supporting myself. A night out with friends is okay, but I need to make conscious choices about when to indulge. Giving in to impulse spending doesn’t feel as good as knowing my bank account is intact.

The Consequences of Procrastination

The longer I push back on a payment, the more I’ll owe. I’ve learned this the hard way, and it’s essential to pay bills on time or contest them promptly. Procrastination only leads to increased debt and financial stress.

Performance vs. Income

Finally, I’ve come to realize that my finances won’t always correlate with my performance at work. While excelling in my job is important, it doesn’t guarantee a raise or bonus. I need to focus on my financial goals and not rely solely on my job performance to dictate my financial situation.

By acknowledging and accepting these financial realities, I can take control of my finances and make informed decisions about my money. It’s time to face the truth and take action.