If you've ever felt a bit adrift in the sea of finances, you're in good company. Whether you're just starting your financial journey or you're still figuring things out as a seasoned professional, managing money isn't a walk in the park. Today we're diving into the often sneaky world of financial red flags that particularly affect those in their twenties and thirties - and more importantly, what you can do to successfully turn things around.

We're exploring three major financial traps that can derail your money goals without you even realising it. First up is lifestyle creep - that sneaky trap where your income jumps from $500 to $2,000 a week, and suddenly you're trading homemade lunches for daily bakery stops and upgrading to that shiny new car. Next, we'll tackle the payment pitfall of only paying minimums on debt - imagine a $3,000 credit card bill taking 20 years to clear and costing you double what you borrowed. Finally, we're addressing the financial fog where your money seems to evaporate without explanation, leaving your finances resembling a sieve more than a solid ship.

For each red flag, we're providing practical strategies to get back on track. From creating detailed plans for pay rises and setting up automatic transfers, to actively managing debt and tracking every dollar for 30 days, this episode arms you with the tools to spot and tackle these issues head-on. Remember, it's not about feeling shame - it's about building better habits and ensuring your financial future is bright.

Links

Recommended book: Barefoot Kids by Scott Pape

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Financial Red Flags!

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