Ever experienced what is considered to be a good financial shape? Getting a grip over your finances makes you happier and you will feel more in control of your life. There are certain hacks that can help you improve in your money management and the quality of your financial life. They include:
Set up an autosave: The aim of this is to ensure you never run out of savings, by overthinking the process. Autosavings is best for small amounts, so it is insignificant enough to let go, but by consistency, you will have saved a substantial amount. You can autosave an amount like #200 to #500 daily with apps like cowrywise and piggyvest among others, and in time you will see all the difference it will make.
Cut out unnecessary expenses: There are habits you have inculcated that seem like you cannot live without and are deeply eating into your finances. They include things like going out too often, always footing the bills whenever you are out with friends, paid subscriptions for apps and sites you rarely use, among others. You can replace all these expenses with inexpensive events and activities like bonding more at home with family, taking advantage of free subscriptions and knowledge sharing sites, etc. Take an inventory of these activities, and you will sure know what to cut down on.
Stop spending on impulse: If you feel like you suddenly need to buy a thing, give yourself some days to rethink that choice. You can make it a 10 day rule for any important purchase your suddenly feel the need to buy. If after 10 days you still want it, you can buy it. More often than not, after the first day, you might lose interest in it and that saves you money.
Be proactive: Being proactive cuts across every part of your life. It can be seen in you taking healthy meals and exercising regularly so you don’t have to spend emergency funds on health, or you regularly paying bills when due so it is well planned for and you will not end up paying more than you ought to. It is also seen in buying groceries in bulk that will last for a long time, which on the long run saves you incredibly more. Stay proactive and your finances will be well managed.
Declutter: There are two benefits of decluttering. You can put up your things for sale and get money from it, or you can simply get rid of excess stuff and feel more at peace with yourself. Improved finances is first a mental effect and decluttering helps you achieve this.
Understand your worth: The reason why many people tend to overspend and run into debt is because they attribute their value to the physical things they own and possess. You have to learn to appreciate your intrinsic value, such that you are content with whatever resource you currently possess. All of your attention will be focused on maximizing and utilizing your potentials and resources, as opposed to acquiring more.
Your life should be treated like a business, and with the same amount of grit and courage it takes to be successful. If you try these hacks and you still struggle with financial independence and freedom, do not neglect the place of financial experts. Find one who you resonate the most with, and choose to be accountable until you chart a financial course you will be proud of.
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