3 People without a Savings Account
When deciding how to profile people with financial problems, I reached out to Andre Pinantoan from Pocketbook (a personal finance app that not only tracks personal finances but also has enough extra features to work as a great alternative banking option in the very near future). Pocketbook currently has over 40,000 users, and they value user input while also analyzing habits. Here's what Pinantoan had to say:
"What we find is that people who seem to be always out of cash is that they under-budget their emergency fund (like that scene from Pixar's 'Up' of the old man and his wife). They underestimate the probability of bad things happening to them, and overestimate good things. In other words, they're way too optimistic about their future."
How can you ever save money if you don't have a savings account? You have to treat it like a savings account as well; emergencies do come up, but if there's no immediate life-threatening danger, don't dip into your savings. A bit of creativity and resourcefulness will help you maintain the discipline needed to get yourself out of debt.
4 People with No Ambition
Saving money involves earning money; if you don't have a destination, you'll never go anywhere. People with ambition have drive, motivation, and inspiration; those who lack one, lack all, and people who lack are truly broke. "Unfortunately, you're probably not going to be able to change anyone else's mind about how important having a great work ethic is," says Tillman. "That's something that needs to be learned and developed."