It seems to be human nature that, as we make more money, we end up spending more of it when, in actual fact, we should be saving it. NerdWallet interviewed some small business owners and entrepreneurs, including Due Founder and CEO John Rampton on how they handled the increased salary, increased debt load dilemma.
For John, while he started out going the way of human nature, he quickly learned to stop those bad habits and took steps to ensure he started saving that extra money he didn’t have before that promotion or extra revenue. For him and the others in the article, the focus has been on prudent spending and excessive saving to help them create a cushion, savings, and even retirement for themselves and their families. All of them noted that these new spending and saving habits have made them a lot less stressed and much happier.
You can read the original Good Spending and Saving Habits article here.
To create these habits, it helps to establish and prioritize any goals related to money. Due offers three steps that assist you in this journey toward smarter decisions with money.
