You Don’t Have a Clear Financial Goal
So you’ve got a buddy who runs marathons, climbs mountains and made $1 million before she turned 30. The first thing she’d tell you is that you need a clear goal to accomplish anything and properly manage your money.
“It’s very hard to get where you’re going without knowing where you want to go,” said Gallegos. “Similarly, it’s very hard to save without setting goals. Those goals might include retirement, a vacation, a new piece of furniture, a child’s education or time to train for a marathon.”
Whatever your financial goals, write them down and then budget for them. If you get stuck, call that friend who climbs mountains for advice.