All too often, worrying about finances can take up more time and space in a person’s life than they bargained for, complicate their lives, and even interfere with getting a good night’s sleep. Here are some financial habits that are easy to implement in your daily life.
Start Saving Early – and Often
According to a recent article, by age 35 a person should have saved twice their current salary. Even if you aren’t quite there yet, saving early can always pay off in the long run. To decrease the stress of constantly thinking about saving set up an automatic transfer from your checking to your savings account. Saving a set amount every month is much better than depositing varying savings amounts from month to month. You’ll feel better knowing that you are saving without even thinking about it!
Go on a Diet
Finding a balance in your financial life and health are equally important. Just like getting rid of unhealthy foods from your diet, cutting back on unnecessary spending can have an equally positive effect. Start going through your budget and get rid of recurring expenses that aren’t providing nutrition to your financial life. Unused subscriptions, pricey lunches, wasteful use of the air conditioning and other utilities — get rid of it. Create a budget that is easy to stick to. You’ll be financially healthier before you know it.
Refinance and Refresh
Loans, especially multiple student loans, can take a lot of brain space when you are thinking about financial planning. One way to help is to refinance student loans in order to get a better interest rate and potentially get out of debt faster. In order to refinance student loans, you can start by shopping around, comparing private student loan offerings. Having an endpoint for your loan payments in mind can help with motivation, and consolidating loans might be the perfect motivator.
Find a Balance
Don’t restrict all spending to the point where you feel trapped. Set aside a small amount of money each month for a fun treat or outing. You may even find that extra spending money by selling things you no longer need or want. It may seem difficult at first, going through your old clothes, electronics, and sporting equipment, but it’s a great way to get rid of unnecessary items while giving your finances a little boost. Treat yourself a little bit!
Work(out) From Home
If you really want to feel healthy and happy in mind, body, and wallet, workout at home. Gyms can be good for accountability, but all too frequently they become one of the many unused subscriptions in your life that just waste money. Search for online workout videos or find a blog that gives you exercise tips and routines. Save your money and your health by finding an exercise routine that works for you and your schedule.
Planning for your financial future shouldn’t become a hazard to your health. By starting these habits early and often, you can plan for a healthy financial future.
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Founder Dinis Guarda
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