Avoid these habits if you want to save money and become rich

From generation to generation, bad financial habits are passed from parents to children, so avoid these habits if you want to save money and become rich.

We spend more than a decade at school, they teach you math, portuguese, arts, biology and 20 other subjects, but they don't teach you how to get rich.

In this article, we will present some of the most common bad habits that prevent people from becoming rich.

Habit1

Some people, when they receive their salary, pay the rent, the telephone, the card, insurance, taxes and only after all this, if there is any money left over, do they pay themselves. Paying yourself means that when you receive your salary, you must already set aside a percentage of it for investments.

The first bad habit is to pay yourself last, because by doing this, you won't use your mind to structure your expenses, leaving investments always last. Prioritize your investments, pay yourself first.

Habit2

Now, the second bad habit is getting into debt. Maybe one day you will need to get some money from the bank for something urgent, but be careful not to do this repeatedly.

Habit3

Bad habit number 3 is not having an emergency fund. Life is beautiful when everything is going according to plan. We get paid each month and spend all the money, doing everything we love most. However, as the saying goes, the devil is in the details. An illness could come, your car could break down, your job could end, and all of this could happen at the same time.

So, having at least 6 months of your monthly expenses saved in a safe investment protects you against all these possible problems.

Habit4

The fourth bad habit is not knowing your expenses. We tend to have our dreams focused on the future, to imagine our successful business, our house being built, but we forget what our expenses are and will be.

We don't think about it, but there is something called lifestyle inflation, that is, if I start earning more, I start spending more too, when I earn even more, I spend even more. Be careful that your expenses do not exceed your earnings.

Habit5

The fifth habit is having expensive hobbies, whether it's buying expensive clothes or a yacht. Prefer to spend your money on experiences or education, because in addition to developing yourself, this set of skills that you will be learning will help you earn more money in the future, but also to be a better person.

Habit6

The sixth habit is paying a lot of taxes. Always choose to pay less taxes. Study the rates and try to pay as little tax as possible. Rich people study a lot about how much they can save on paying taxes.

Habit7

The seventh habit is taking a long time to start investing. The sooner you start investing, even in small amounts, the easier it will be to achieve the much-desired financial freedom.

Compound interest will work in your favor and the longer you invest, the more money you will have in the future.

Habit8

The eighth habit is not caring about finances. When you don't care about something, you don't do your best at it, but if you've come this far I think you don't commit this bad habit. Continue seeking knowledge in finance and transform what you learn into actions.