Bad personal finance strategies contribute most to the lack of money that a lot of people suffer from. Finances are like trees, they quickly die off as soon as they stop getting the required nutrients to survive….good personal finance stratgies acts like all the nutrients needed to grow your financial tree.

In this article are some bad ways of managing your money that you must avoid at all cost. 

Nobody ever wake up in the morning and pray to God that S/He should be poor. Yet, most of us do those things that will naturally block the heavenly windows of finance against them. In this article are some of those things that we should avoid if we truly don’t want the finance heaven to close against us.

The first thing that you should avoid doing is; having a negative mindset. Garbage-In-Garbage-Out (GIGO) is one computer term that can easily relate to natural law. You cannot expect something good to come out of a negative mind- Impossible!

Actively seek motivation. A non-motivated person cannot face the challenges of financial battle. Motivation plays a very significant role in our life especially our finances.

Take time to plan. Planning is the bed-rock of every of your activities.

Avoid over spending at all cost. A lot of people fall prey to the bogus marketing strategies of marketers and buy things they have no need for. They spend more than they earn, thereby living in perpetual debt. If you must be indebted, let it be a good one. That is, business or investment related debt. Avoid credit card debt as much as possible.

Also do not take advice from people that are not qualified. When I say qualified, I don’t mean paper qualification alone. See the article on selecting Personal Financial Advisor .You don’t go to a mechanic when you are sick or do you? I bet your answer is no. Why then do many seek financial advice from friends and relatives who are themselves not sound financially. To me, that is crazy, so don’t do it.

Confusion is another thing to avoid. Be focused at all time. Focus on one thing at a time. If your financial advisor asks you to follow certain investment vehicle, please do stick to them. Provided it’s coming from the right financial advisor

Procrastination is a killer, avoid it. The right word is Action!, Action!!, Action!!!. Never say tomorrow because now is the right time to take charge of your finances.

Never at any time ignore investment (in your assets and your–self). Invest your money on assets and your time in learning. It will help open up the windows of finances from above.

Don’t be at war with the concept of time value of money. Also be at peace with financial statements of companies. My mentor once told me that Accounting as a subject is the best course to ever study. It will help you acquire all the above techniques and more. And the good news is that it must not be learnt on a formal basis. Little book here and there and articles like helps on this.

The final thing I will be discussing in this article is INSURANCE. You must not leave your assets unprotected. A lot of people have been taken back to square one because they failed to insure their assets.

Oh! Sorry, I almost forgot this, the most important for that matter. The natural law of giving and taking need not be overlooked. Learn to Tithe and give back to the society.

Haven being equipped with all these wonderful tips, now is the time to go ahead and kick open the window of finance and grab as much wealth as you can.