Keeping
your financial life stable requires some discipline and development of
good financial habits. We all do not want to be in a financial hole that
leaves us emotionally and psychologically devastated. It is better to
protect our finances when we can, before situations cause our money to
slip away from our fingers. That is why it is important to learn a thing
or two from the financially stable.
1. They don’t spend impulsively
Money has a way of engaging us. This apparently happens to a big
problem for us all as we want to take advantage of the “easier” life.
Impulse spending means eating out and shopping extensively until we
drain our finances. Financial stability can only be attained when we
control and monitor our impulse spending.
2. They save money
Financially stable people spend less than they earn. You may not have
abundant capital but you can indulge in the right and important things
and not overspend. This affords you the opportunity to save money. So
learn to negotiate phone, cable and utility bills. Or simply reduce how
much you spend on grocery, restaurants and clothing.
3. They track their spending
They monitor their spending. This can be done occasionally. Perhaps
once a month you can write how much you have spent, and see what areas
you are running deficient. When this is done one can understand how
efficient he is using up his finances.
4. They invest
Financial stable people do well to secure their future. Even when
retirement isn’t lurking nearby you can start setting some money outside
in deposits for investments
5. They eliminate and prevent debts
All debts are not the same. A loan that builds with high interest is
not the same as low interest loans such as mortgage and student loans.
Debt has a psychological effect that works against the debtor, so it is
better to eliminate or prevent debts. Know how much you owe now, whether
it is a car loan or credit card debt.
6. They budget
Financially stable people budget their income. By using a budget they
are able to ascertain where their money is going to and seeing that it
goes to where they actually want it to go to. With apps like
Mint and
You need a budget you can take charge of your budget and start becoming accountable for it.
7. They respond automatically
Yes they do not procrastinate with their finance. They do not delay
in the paying of their bills. By doing this there is no room for debt
growth and affords you the opportunity to know what money can be used
for personal expenses.
8. They give up bad habits
This takes some discipline. But financially stable people understand
that bad habits have a way of eating into their income and robbing them
off their future joys. Things that truly make you happy are inexpensive
and do not leave you swimming in financial wreckage.
9. They plan
There are special things or activities that you would want to reward
yourself with. It could be buying a house, buying a car, going on
vacation. This could be long term goals that require you to efficiently
plan and achieve them. Instead of simply procrastinating, put numbers
and dates on those goals. By doing this you can be consistent and see
them to fruition.
10. They take care of their health
Financial stability requires some responsibility. You cannot
accomplish nor do much without protecting your vehicle to success,
besides medicine is expensive, from medication, examination to
treatment. Financially stable people protect their finances by also
protecting their health and ascertaining a healthy lifestyle. We all do
know unforeseen occurrences can happen but please there are things one
can manage and are still in your control.
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