There are many complex and probably effective principles for accounting for income and expenses, as well as ingenious investment schemes. But most often they bring results only to extremely motivated people with a mathematical mindset and an innate talent for doing business. However, this does not mean at all that other people who also dream of a comfortable life, do not have a chance. They just need to adhere to other principles and approaches.
We love simple but effective solutions. Especially those that primarily affect the worldview of a person and only subsequently allow him to acquire useful habits and reach new heights.
Invest in yourself
The best contribution to the future that you can make is to invest in yourself. And the sooner you understand this, the better, because youth in this matter plays an important role.This, of course, is about expanding the horizons and field of knowledge. Not formal education, but targeted study of what you are interested in. Books, online courses, certificates, personal development programs.
Remember the rule of three eights
Everyone knows that on average we work 8 hours, sleep 8 hours, and between these 8s there are another 8 hours of our personal time. We sell working time to someone else, and the hours spent on sleep are dedicated to our body. Accordingly, the only way to grow and improve your life lies in the remaining eight hours between work and sleep. Use this time wisely. Do something that will be useful in the long run: hone your existing skills and acquire new ones, instead of watching meaningless entertaining videos.
Be careful when lending to family members and friends
Despite the fact that we love and worry about loved ones, we still expect to get borrowed money back, right? But the problem is that people can think differently. It is possible that one of your friends or relatives, asking for financial assistance, secretly believes that your disposition towards him allows forgiveness of debt after some time. You can advise a person to turn to a good lending company, which was personally checked by you in the past.
Spend less and you will gain freedom of action and flexibility
In articles on financial well-being, one rarely sees direct instruction to just spend less. However, it is worth taking a closer look at this item. Imagine a state where you finally want to break the vicious circle of routine and quit your unloved business, but it’s scary to take a responsible step into the unknown. Starting to save, you gain flexibility and freedom of action. You are buying the opportunity to change jobs, move to another place and say yes to things that matter.
Follow the 24 hours rule
When shopping, we are very easy to give in to emotions. When it comes to something big, we lose our heads from worries. It’s worth putting all expenses into your mind and figuring out how soon the joy of new things ends, it becomes clear that many of them are completely unreasonable investments. Therefore, in order to significantly reduce unnecessary expenses and make deliberate large purchases, it is necessary to observe the 24-hour rule. Wait only 1 day before making a purchase. The emotions will settle down, the rush will disappear, and you can finally understand what you really feel.
Spend 1 minute studying costs and spending every day.
This trick is surprisingly simple, but it allows you to keep your spending in check every day, not allowing you to spend too much due to distraction. Closer to the middle of the day, it is necessary to allocate only 1 minute to check and understand the financial transactions already made. This will help to immediately identify problems, stop the flow of spending and determine the acceptable level.
Keep a special mantra in mind before each purchase
Another simple way to slow down and ponder a purchase so that you don’t regret the badly invested money later is to keep a special mantra in mind. Suppose you saw a wonderful cashmere sweater, but now you do not need it. In this case, just scroll through the phrase in your head, for example: “Is this sweater more important than a vacation next month?”
Do you know what really determines the level of happiness and joy? If you think for a moment, you will suddenly realize that it is not money, but optimism and the ability to enjoy what you have that determine the success of every day.