Achieving financial security could sometimes feel like you’re navigating a deadly mind field. So much can go wrong and usually do. When I was in my twenties and thirties I had absolutely no money management skills. I spent money and then spent more money on useless meaningless things. What do I consider useless meaningless things? Anything that is not bought out of necessity, any over indulgences and anything that do not build personal wealth and simply leaves you broke. However, in my forties realizing that if I wanted to retire at a decent age and have enough to survive on, after retirement. I had to get my finances together. So to help you get your finances together I share what I’m using to develop good money management skills. Below are 5 Tips to Creating Financial Security.
1. Be you own advocate – do your homework and educate yourself on ways to get the salary you want at your job, ways to save on expenses, ways to earn extra income, ways to grow personal wealth and ways to manage your money.
2. Have a short financial goal and a long term plan – making small short-term financial goals like bringing down your credit card balance and so on, paying off your, your student loan and so on. You also need a long-term financial plan. Ask yourself this question. What is my financial plan for the next five or ten years? Visualize the kind of life and lifestyle you want to have in the future. Then create a plan to achieve it.
3. Have a budget – this is something I have struggled with over the years and sometimes still do. I can’t impress upon you enough. You need to have a budget. This will keep you from spending more money than you make and help you create a surplus which is important for saving.
4. Have a savings – start a savings account. Look for ways to invest some of your savings. By starting a savings account you create the opportunity for investing and once you’re investing and your investments start yielding income for you. You’ll then start creating wealth. The goal is to always spend less than you make.
5. Stick to your financial goals and plan – this part is very important. Once you have made your financial goals and your plan, stick to it as if your life depends on it. If you mess up because life happens. Be sure to course correct as soon as possible.
By no means are there only 5 Tips To Creating Financial Security. However, these tips are begging steps that can lead you to the beckoning road of financial success. You’re going to stumble, fall and get bruised as sure as the sun rises but if you persevere during these difficult and challenging times. At the end of your journey, you’ll be thanking God for giving you the courage to stay the course. At least that’s the reassurance I give myself every day. I picture being in my early fifties and living a life of comfort. I’m not living pay check to pay check and I can even enjoy the finer things in life, pay my bills and have extra to help others. That my friends if my destination. I hope I have presented enough reasons and motivation for you to start applying these, 5 Tips To Creating Financial Success.