Be happy and fulfilled with the things you have and where you are in life. Don’t get me wrong by all means aspire and be inspired by others to be better. Your happiness should not rest or be driven by materialism. Because you will never be satisfied there will always be something or someone else to chase, next trend or big thing.
Live within your means
In this age of consumerism, we are spending more than we can afford or save. Your bills, expenses, shopping habits are they a reflection of your income or are you living a lifestyle you cannot afford? Living well below your means does not mean deprivation rather making sure you don’t lack, you are not living pay check to pay check, you can handle a financial emergency should it arise.Which brings me on to the next point.
A budget is simply a plan on how you will spend your money. The word budget may have a negative connotation such as restricting you from the treats and pleasures of life which is not the case. A budget enables you to list all your outgoings against your income. A budget lets you know if you can afford to buy a new pair of shoes this month or can you wait till next month?.
Get out of debt
Clear any debt and stay out of your debt, again it comes back to living within your means. You can’t plan the future with debt hanging over you as it tends to overshadow your plans.
Save and Invest
You don’t need a reason to save but for others having a goal gives them motivation to save. You could be putting money aside for a trip around the world, a big birthday coming up, a car, deposit for a house or even saving for a rainy day. Property development, business, stocks and shares are the most common forms of investment. Do your research thoroughly so you are aware of the returns and risks involved. Avoid get rich quick scheme there are far less success stories than those who profited.
Your bank statement speaks volumes about your spending habits, have a look at it often. It is the only way you will get to know where your money is going and adjust where necessary. Check your direct debits to make sure you are paying for what you need, cancel any subscriptions you don’t need. Switch banks if your money will go further.
Boost your income
Ask for a pay rise or promotion if you have taken on more responsibilities. If your workplace offers overtime take advantage of this. Create multiple sources of income, these could be side jobs in addition to your main job.