IMPROVE YOUR FINANCIAL FUTURE - YOUR CHOICES MATTER
Want to learn how to improve your financial future? That can mean so many different things depending on the person and their financial situation. So how can you ensure that your financial future is brighter than your finances have been in the past? The answer is quite simple. Do not make the same financial choices that you always did. Making the same efforts and same mistakes will ultimately keep you on the same path for a very long time. So what is the best way to begin to make the right changes today?
How can I improve my financial future?
Change the way you view money
Start a budget
Start tracking your spending
Realize that money is just a useful tool
Embrace a different and more minimalist lifestyle
Begin saving money by starting small each paycheck
Start thinking differently about money
Stop and think about how you view money? Have you always been a spender? Maybe you need to focus more on finding ways to save more money. Whether you have very little additional money or more than enough, good money management begins with your attitude and choices. Finding ways to save money consistently even on a very small scale is how you finally get out of the paycheck to paycheck cycle. Healthy money habits just like healthy living all come down to repeated behaviors and discovering a good balance.
Budgeting is key
Developing a balanced budget, whatever that may look like for you is a very important step. Each person's goals and each budget will vary depending on their stage in life and financial commitments. For those with more debt, they will find themselves with far less disposable income in most situations. A budget can help you determine how much is left after all necessary bills are paid each month. The goal with a budget is not to deprive yourself and to be miserable in life. The goal with a budget should be to get out from under the burden of debt once and for all and begin to really live.
Looking for a sample of a personal budget?
Below is an image of a personal budget that can be created using Microsoft Publisher. You can also create a budget using Excel that can be altered and updated easily as you pay off debts or amounts in any category are increased or decreased. I liked this sample image as an example of a very thorough personal budget just to help you recognize how to get started with creating your own. Budgeting is an important step in changing your financial future.
Pay close attention to every dollar you spend
When you start budgeting, you need to look at the amount of money you are spending and ways to eliminate unnecessary spending. You may be shocked at the amount of wasted income spent on everything from beverages and food on the go to unnecessary fees. It is the magic that happens when you begin to realize these costly mistakes that will help you to begin to make the right changes to your budget. You can then begin to cut expenses but also begin to find additional money to allocate somewhere else within your budget.
Recognize that money is just a tool
When we begin to view money and our finances differently we begin to live differently. Joy can be discovered through the realization that money is just a tool and we are not more or less valuable based on our net-worth.
https://savingjoyfully.com/chasing-joy-and-self-worth-in-material-things/
Embrace a different financial lifestyle
Learning to live within your means and even below your means is so important. You can never get ahead financially if you continuously spend everything that you make. It doesn't matter as much what you make weekly as it does what you spend weekly. Many of us have been through times where our paycheck is gone before we receive it. At times you may find yourself with more bills and expenses than you have income. If this is you then setting up the budget I mentioned earlier is so important now. This step can help you to determine how you can bring some of these expenses and bills down.
Start saving money today
Saving money, especially when you are in a very tough place financially may seem impossible. It is not though and saving money does not have to mean $100 a month it could be as small as $1 to $5 a week and still make a difference. My favorite way to save money is by using a money saving challenge. These can be found almost everywhere on the internet lately. Pinterest is always a favorite place for me to find this type of inspiration. Each year I would search for a financial challenge to start on January 1st. Depending on your goals and what you are saving for there are challenges available for every budget. My favorite is the 52-week money-saving challenge and I tend to choose this challenge every year.
Start small weekly money-saving challenge
If you are just starting to save money why not start small. Here is a money-saving challenge that I created to help you start saving money with small weekly increments. Increasing every 4 weeks to a slightly higher amount and at the end of the challenge leaving you with a total savings of $728. It's a great start and can easily become a habit that you can stick with every week. If you automate that amount you might not even notice the difference the small amount makes in your weekly take-home pay.
Why use a money-saving challenge
The above savings challenge is just an example of a way to get started saving on a smaller scale. As you see in the above chart starting with just $2 a week can still add up. You can use the savings plan I recommended here or alter it in any way that works for your life. The most important part is that you get started and continue saving. Whether it is a few dollars saved a month or possibly more, the result is still more saved than you had before. Once you begin to build up your savings and commit to not spending what you have saved you will be pleasantly surprised at the results. You will also find that you can finally break the paycheck to paycheck cycle easier than you ever thought possible.
Just get started changing your finances
You will never begin to make any progress unless you commit to making it happen. The commitment to changing your financial situation and the associated changes are where you see results. It is easy to quit when things seem hopeless and to get stuck in a bad situation for longer than necessary. The real change comes from making an effort daily to alter your lifestyle, spending and money-saving behaviors. It may seem slow at times but you will find the longer you implement these behaviors and actions consistently the more results you will begin to see.
A joyful financial future begins or ends with you
Finances are a tough area in each of our lives. Learning to master good money behaviors and to stay on track is a challenge you will always face. Learning to face this challenge with a brighter more joyful outlook can make a huge difference in altering your behaviors. A positive outlook and hope for the future are what drives us to make a difference. There will be times that are more trying and stressful but positively approaching them with a renewed commitment will bring better results. Start believing that you can make a difference in your financial future and making the necessary changes today. This is the moment. The fork in the road where you choose the same path and the same results you have always chosen. Or you choose a different financial future with many new challenges and choices that will result in a brighter financial outlook. Choose your path and begin to reap the results of those choices. You will quickly understand what I mean when I say, to improve your financial future your choices today matter.