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This is the reality that we all wish to have the perfect world, the world in which we can know how our destiny has been written. Certainly, it would be one of the best happiness. But living a finances fantasy life like euphoria, I can come negatively rather than good especially in terms of finances. It is significant to give a realistic look at your financial position if you want to be successful. When you think that you are struggling with having a grasp on your financial situation then you may be living a fantasy life.
Finances Fantasy life refers to disregard what exists in reality. Indeed, it is true that having a break of sometime from the real world would give some extend of relief but it’s not realistic. In real life you may not able to make good decisions related to your finances, you start believing in unrealistic results that are normally left in a worse position than before. Let’s explore some of the ways that specify that we are living in a fantasy world financially:
1. You Think That Your Debt Will Be Forgiven
Keep in mind that loan forgiveness does exist, but it’s the exception in the finances fantasy, not the rule. Specifically, only about 1 percent of loans may get approved for forgiveness. With such statistics, you need to worry that you are supposed to pay your debt at any cost so make your payback plan ready for what you owe.
2. You Expend On Credit Without An Appropriate Plan
Credit cards allow having some merits if you know how to use them wisely with keeping in the discipline. Therefore if you are living a finances fantasy life for your money, you may be spending without a plan. In that case, you most probably keep telling yourself that you will pay the amount later with your credit card bill but having no idea how you will do that. So if you prefer to use a credit card then you should know how you are going to pay otherwise the debt will be exponentially higher due to the interest amount.
3. You Want To Save Money, But Don’t Have A Plan
Indeed, it is true that if you have a goal to save money then you are doing great. But you must have to prepare some amount to handle the emergencies of for large purchases. Some people do say that they are going to save money but without having a plan that is the fantasy in actuality. You should have a clear understanding regarding your saving plan like what you are up to, why you are doing it, and for what.
4. You Think That You’re “On A Budget,” But In Actual You Are Not
It seems satisfying that you are on a budget but this is another finances fantasy related to your financial situation. A properly developed budget helps you to proactively use your money wisely. It would include that how you are going to allocate your money. Do not forget that the budget does not mean that you are not supposed to spend money but you have the criteria to use the money for different needs.
Hopefully, this read would be a great help for you. If you want more content like this then Give a visit to https://itsolution24x7.com/
