Personal Finance - Why Wishful Thinking Can Destroy Your Finances In This Economy
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Personal Finance - Why Wishful Thinking Can Destroy Your Finances In This Economy
Things are rough for everyone right now, the economy istanking, jobs are being lost on a daily basis and more and morepeople are buried under a mountain of debt. One common problemthat is happening is that people are using wishful thinking toget them through the day when it comes to their finances.Meaning that even though everything could be going wrong intheir life and they are not making the best decisions assumingthat "it will never happen to me", I will never be homeless, Iwon't lose my job so there is no need to stress out.
Wishfulthinking is useful in some cases and for short periods of timebut not taking every measure possible to put yourself in astrong financial position will lead to nothing to disaster.People "know" what should be doing but many of them don't doit. They have tons of credit card debt yet to take out theirstress they go shopping. Do you see the problem here? I comparethis to "drinking away your problems". Just because you try toavoid thinking about your problems, does not mean they will goaway. What many people need to do is start thinkingrealistically.