Preparing for the New Year: New Tips to Secure your Finances for 2015
It’s the 7th month of 2015 which means we’re way past any early planning you could have done during the start of the year. However, that doesn’t mean you can’t start setting up a bit of a fund for the coming New Year. In fact, it might be a prudent idea to do so right now as there is enough time to make some good decisions and to save a bit more cash before you start the new fiscal year. So, if you’re looking to create some padding for the year ahead, or if you just want a little more money to set up a risk taking fund, here are some of the tips you can use to prepare for better New Year.
Find Out your Net Worth
When it boils right down to it, making extra cash is great but it doesn’t indicate much in the way of growth. Instead of chasing the next paycheck, why don’t you start thinking about how you can raise your status in terms of net worth? There are a number of different apps that help you determine what that number it actually is. However, the thing here is that it would just be wiser to start investing in good opportunities and maybe buy some real estate of your own.
Cut what you don’t need and Plan a Bigger List
While luxuries are always a good way to treat yourself, sustained costs often comes with them. For example; do you really need to maintain a cable subscription along with a Netflix account? Sometimes, the best way to start setting yourself up is to cut away the excess fat that surrounds each of your transactions. Try to cut down your car usage, or maybe log off every once in a while so you save on electricity. Small changes matter a lot, but if you want to go big, you may want to consider selling a few of the things you don’t need around the house.
Stop Using Credit
Credit cards make a ton of different things possible especially on a relatively low income, but this cost cuts so deeply if you are unable to keep up with your bills. So don’t fall into the credit trap because it can be nearly impossible to get back into good graces. It may be time to consider using cash so that you keep a tighter grip of the money you make.
Keep Improving
While being goal oriented is often seen as a positive ideal, there is a downside to setting those long term objectives. Namely, if you fail, it will feel heavier as expectations can bring you down in a bad way. So instead of doing that, aim for improvement instead because if you never set goals, but keep working on what you can do, you will be surprised at what happens. The point here is to never limit yourself to what you think you can do but at the same time, never be naïve about your capabilities.
At the end of the day, it’s important that your money is secondary in your life. Financial security is a good idea for a future, but if you focus on building your life with money in mind, you’ll have a harder time making any real difference.
Photo Attribution:
Featured and 1st image by blackzheep freedigitalphotos.net
2nd image by reality freedigitalphotos.net
3rd image by bpplanet freedigitalphotos.net
