We easily get caught under the cage of depression as and when our financials looks not-so-stable. Few extra leaves from work and you immediately have to alter your budget for the month. Plus those tempting sales always dent the budget!
Overwhelming short term priorities makes us push our ambitious long term financial planning on the back burner. We use tomorrow as a reason, forgetting that tomorrow never comes. So this is the time when you start recognizing your needs of your future without disturbing your present. How? We shall help you out:
Book a long lazy afternoon for yourself
We love talking about others but forget ourselves in the crowd of the world. Have a word of wisdom with yourself. Pick a pen and a paper and write down what all you need to enjoy happiness with your loved ones then you’ll come to know the ways to get such happiness. Practically, pen down all your income, expenses, assets and liabilities, gather all the financial information of yours and analyze where you actually stand.
Put everything in order
After you have gathered all your credit cards, policies, mortgage/lease/rent papers then create a different folder for each one of them. Because an organized start shall lead to a more organized financial goal and you’ll feel more secure about your finances.
Invest under expert’s guidance
A simple wrong decision may affect your finances badly because what you don’t know may hurt you. Spend a few pennies on a good financial expert who can guide your investment and help to get you a fair return value. She/he will make you understand the risk and rewards of various financial tools. Plus how to change you path when there is a change in economic situation.
Be ready for financial blues
Save and forget. Yes, this is a tried and tested technique. Never touch a fixed sum of money you save every month for a bad sun day. If possible have a separate bank account for this and turn an automatic transfer mode on. This way as and when your salary arrives, a fix sum shall automatically get transferred to that account.
In addition to all the above mentioned points, always remember that financial independence is the key factor to boost your financial confidence. Fly like a free bird in your world and beware of this huge market which serves you attractive things and sometimes makes you land in trouble. Happy savings
