As an earner it is in your best interest to learn how to make smart money decisions as early as possible because if you do not you will always be broke no matter how much money you make.
2 things to do that can help are
1. Eliminate Some Wants
Being financially successful entails that you learn to separate your wants from your needs and resist buying on impulse or just for the sake of. Let’s say, you like and buy scones or dough nuts every day for breakfast, maybe you go for a buffet lunch 4 of the 6 days in your week or always meet up with friends at the end of each day and have drinks. None of the above are real needs; you wanted to have these things.
To help you with your money management dig deeper and pick out some wants to eliminate. Take a look at what you bought in the last month. Write down every possible thing you have spent money on. This should be a very quick or very long exercise depending on how good your memory is or if you kept any receipts or records.
Your list will probably include rent, transport, food, phone, electricity, water and a good number of wants. Reduce or better still cut out these wants.
2. Stop mimicking others
Did you buy an expensive suit or a car because some other person did? Do you rent or are building a big house to “show them”? Maybe your child is in too expensive a school at this moment (because each term the fees are late and you get payment reminder notices)?
Assess your money habits and see if there are some that you need to revisit or change. Maybe, you need to take a look at the company you are keeping or the people you are following. See if they are affecting your lifestyle and spending habits.
Do not do things because your friends are doing them and you want to be like them or someone you know. Find a circle of friends that care about who you are and not what you have. And if these friends have more than you, you should be comfortable enough to be in their company without thinking you must own or do the same things.
The only way you will ever permanently take control of your financial life is to dig deep and fix some root problems and make suitable money decisions.