How To Ruin Your Financial Future (It’s Harder Than You Think)
So you want to ruin your financial life. Seems easy, right? Well, not so fast. You need to really think this through and strategically execute a lot of really dumb financial moves in order to accomplish this. Driving yourself into financial ruins actually takes effort.
But you can do it if you are willing to commit yourself to the cause. Here’s a few easy steps that will have you on your way to the poor house.
Forget To Enroll in my Company’s 401K
Or, just be lazy. I know, you have incredibly important things going on. Like Fantasy Baseball. And Fantasy Water Polo. And whether or not to eat at Carl’s Jr or Chili’s for lunch. But all that wasted time has been a huge loss for you, especially if your company matches your financial contributions to your 401K. You’ve possibly lost $1000’s being “distracted” by dumb, mindless things.
If your company matches your 401K, there is simply no excuse for you to not be contributing to it.
Buy Crap You Don’t Need
We all get a bug to go buy something cool every now and then. But if you are someone who gets bugs a lot, you might need to call in pest control before you ruin your financial well-being.
Buying meaningless crap is setting the table for financial ruins. Makers of products depend on idiots like yourself to give in and buy things they don’t really need. While executives at the Peel A Cucumber At Speed Of Light Inc. are on vacation in Maui for three months, your cell phone is getting blown up by creditors that you owe money to.
One of the biggest financial sinkholes is technology. Smartphones constantly come out with “newer” and “bigger” versions. But do you really need your smartphone to be the size of a flatscreen TV and will you really use the app that tells you the ingredients of every cookie you take a picture of? Not likely. That’s why it normally isn’t a true “need.”
You And Your Spouse Should Ignore Financial Conversations
I hate to break it to you, but you and the wife/husband need to sit down and have a meeting of the financial minds. Or even seek out a financial advisor and get your life on a plan.
This may cause you to get a divorce, but that might be a better option than living in debt with someone. Seriously though, not talking about it will lead to ongoing disputes.
You Don’t Understand Stocks So Don’t Invest At All
You don’t need to buy stocks to invest money. At least not individual stocks. That’s mostly like gambling, anyways. The best thing you can do is purchase ETFs. You can search “the best Vanguard ETFs” and start there. ETFs are a portfolio of long-term investment stocks. You don’t need to monitor them daily. These should be part of a retirement plan for you and the spouse you hopefully still have following the big financial talk.
Use Your Credit Card As Your Emergency Fund
Credit cards should be used to help build more credit, hopefully not for bailing you out of a pinch such as a broken down car. Credit cards are merciless in terms of sinking our financial ship. Putting an emergency situation on a credit card means huge interest rates, potentially ruined credit in the future. Additionally, you don’t want to max out a credit card.
Pay The Minimum On Credit Cards
And because of this, you can expect to remain in debt for the remainder of your natural life. Even if just a little more, pay more on debt payments. Every bit more will help.
Did that feel super difficult? I know, its effort to ruin your financial future. But so long as you are passionate about the cause, you can do it.