7 Attitudes towards Money That May Damage Your Financial Future ...

1. Rescue

One of the most common attitudes towards money is that if you are in need, something will rescue you. People count on an inheritance to pull them out of a hole, or dream of what they'd do if they won the lottery. A lottery win is incredibly unlikely. Nor can you count on an inheritance. And far too many people expect their parents to rescue them if they get into financial problems.

2. The State Will Provide

If you think that the state will provide for your old age, you should think again. Demographic changes mean that many countries expect to have too many elderly people and not enough workers to pay for them. Always make private provision for your retirement, or you could find yourself unable to retire - or even worse, unable to meet your living costs when you're old.

3. Worry about the Future when It Happens

Too many people think that they'll worry about the future when it happens. The problem is that the future is unpredictable - and can arrive faster than you think. Putting off saving for a rainy day can be a terrible mistake - you never know when those clouds are going to form. It's better to be prepared and find you don't need it than to be unprepared and wish you had been.

4. It's Not Worth Saving

Do you figure it's not worth saving your money when interest rates are so poor/ the government steal it/ you haven't got anything to save? Having small savings is better than having no savings, as you'll find when you need to move house or your car breaks down. Always have money put by so that you have some security.

5. You Can't Take It with You

You might as well spend all your money so that the state doesn't take it to pay for your care, right? Anyway, you only live once, don't you? This can be a really damaging attitude for your finances. You can burn through your cash because you want to enjoy yourself while you're young, but you won't be that young forever. There's a lot more of your life to take care of.

6. Everyone Has Debt

Many people see debt as a fact of life. It's true that you'll probably need to take on a mortgage if you want to buy a house, and few people have rich parents to fund them through college. But it's never worth getting into debt for frivolous purchases like clothes or vacations. Learn to see debt as best avoided.

7. But I Need It

Too many people justify getting out their credit card because they convince themselves they need a new purchase. They feel they deserve a reward for working so hard. Chances are that what they want isn't really a necessity, and their 'reward' could cost them a lot in interest payments.

If you have any of these attitudes, think carefully about whether it's a mistake. Believing these things could have a serious impact on your future. We need to take responsibility for ourselves and take care of our own financial future. What is the best or worst financial decision you've ever made?