We all want more in our pockets. But what if it’s already there?
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Have you spent the last three hours scouring the internet looking for the best video/article to explain how to make money fast?
It’s okay. Chances are, you have watched or read the same article as thousands of other people have in the past day or so.
We all want to be wealthy. To go to the nearest Apple store and pick up the latest Macbook, without any concern to the dent left in your account, is a dream I’m sure most people desire.
But what if you did have the money to do so? I mean, you’d probably check your account and call your friends to go out for a few drinks. That’s what most of us have been doing.
There are, however, small changes we can make to ensure our finances work in favour of us, rather than against us.
Necessities. Is coffee really one of them?
How often do you come home and ask yourself: why did I just by that? By the time you’ve gone to the bathroom, cooked a healthy meal, and sat in front of the tv, you’ve long forgotten the idea of finding the receipt and returning the goods.
Hate to say it, but there is no such thing as a get rich quick scheme. No matter what you’ve read, heard, seen, or believed, if there were, we’d all be driving Range Rovers with French bulldogs leaning out the side.
It all comes down to necessity. Little changes create significant effects. Take coffee, for example.
You’ve heard it before, and that’s because it’s true. Coffee is a bank balance killer. Especially if you are one of those people who drink 5 to 6 cups a day.
David Bach, the author of The Automatic Millionaire, calls it The Latte Factor.
If you put 5 dollars aside every day instead of that triple shot macchiato you have down at the docks in the morning, you’d save 1825.00 a year.
Although it doesn’t seem like a large amount of money, it is the small processes we take, that create extensive results in the long run.
Is it a necessity to buy the new iPhone just now? Do you really need new sneakers or do you still have a few months left in your old Reeboks? Think about what is essential and whether or not you ACTUALLY need it to survive.
Become Familiar with Online Banking Settings.
Should you not know how to manage your funds through the internet or have just arrived from Antarctica after a 15-year sabbatical, you need to go to your local bank right away.
My bank has just introduced new calculators and account management systems that are embedded through the settings of each account.
Through further research, most banks have something similar or the same.
These tools and functions allow anyone banking online to gain better insight into how they are spending their money.
From spending calculators to average expenses per month, these online banking functions can help sustain and implement healthy financial habits.
Although they won’t stop you from buying a Snickers at the checkout, they will remind you of where you are spending your money the most. This way, you get a better understanding of your expenses per month and what you need to cut back on.
Along with other financial applications to track spending or reward consistent investing, there are numerous apps that can help you achieve financial stability.
Nevertheless, using your online banking tools and features is considerably the best feature to use as it is directly linked with your funds and can track expenditures with ease.
Using features such as Spending Tracker or Income Calculator won’t instantaneously create healthy habits. You’ll have to do a lot of work to get into a successful routine.
Withdraw a Daily Limit and Leave your Card at Home.
Nothing is more satisfying than struggling to pull your wallet out of your jean pocket because it’s so bulky.
I’ve only ever had this feeling once in my life, and that was my 21st Birthday where nobody knew what to give me other than money, it was pretty sweet. However, I spent it all on alcohol and food for the party, so the feeling was short-lived.
By planning ahead with a daily budget, you are creating healthy habits to ensure you keep your spending limits down.
When the cash runs out, you know that you’ll have to wait until the next day to cash out again. Leaving your debit or credit card at home and relying solely on the cash in your wallet, causes you to be more financially independent.
The choices you make during the day will ultimately remind you of where you fall short in expenditures and where you do well.
If you have a daily limit of fifty dollars and manage to come home with twenty dollars because you planned ahead, you’re up twenty dollars. Put that aside and get a fresh fifty out the next day. Any spare cash you have accumulated throughout the week can go towards a reward such as a dinner with your partner or a nice bottle of wine.
Taking the opportunity to use cash while it still exists will teach you, and hopefully, get you into the habit of spending less so that you can have more rewards.
Think. Plan. Reward.
Struggle street is over. The more time you spend watching, reading, browsing, surfing the net, the more time you are not spending getting your finances in shape.
Everybody wants to be rich and have that healthy wallet. It’s true. You can be if you manage your money better.
- Think about necessity in your expenditure.
- Manage your accounts and plan your savings.
- Give yourself a little reward with the money you’ve saved.
After all, you’ve worked hard and deserved the night off to kick back, relax, and maybe watch a YouTube video or two.
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