Most of the time we end up being broke no matter if we earn in five figures. The main problem doesn't lie in how much do we earn, but how do we spend it. Here are three things you should not do, if you recently got paid for your work.

Don't Overbuy/ Overspend Your Money

We often visit a mall and end up buying stuffs which are not useful and then make promises to never ever do that again. But next time if you visit the store, it's the same story. So, if you make $100, try to save $20 (be it in savings, or investing stocks etc.) and use the remaining amount for your bills, shopping and etc. This way you can save your dollars and use it for next time.

Do not Gamble

People often invest their money in gambling and end up being broke. But let's talk about your odds of winning a slot. If you buy a lottery ticket, the odds of winning it is about 1 in 29,20,00,000 (292 million). In fact, your odds of becoming a President of America is just one in 10 million which is even better than a lottery ticket. So, save your money and use it to do better kinds of stuff or give it to charity to do social work.

Buying Expensive Cars

The Average Mileage of an expensive car is very less than a normal car and the cost of maintenance is way costly. It is better to buy a car that is useful for family trips and can be cost saving.

Originally Published at my Website : Suke India on it's UC Web Blogging Platform.