Being financially successful can have different meanings to different people. For some, it could mean being extraordinarily rich. For others, it could simply mean getting out of debt and gaining financial confidence.

Whatever your specific financial goals are, I guess no one will reject the idea of financial security. For someone is not so good with money like myself, there’s still hope to be financially successful with just a few simple changes in mindset and spending habit.

Are you like me in the following ways?

  • Buy something and don’t realise you already have it at home.
  • Rarely use or open the things you buy.
  • Shop online when you are bored.

Or you are in debt. You are on a low wage. You think you are useless with money.

If you’ve said yes to a lot of the above, fear not. As long as you are open to learning and think about why you are spending, you can still be financially successful.

In order to achieve financial success, you have to know what your financial goals are. Your goals should be based on your current financial situation and be realistic. Don’t dream. Be practical.

Here are 10 ways to be financially successful

1. Find out exactly how much your are earning and spending every day, week, month

It sounded so basic right? The truth is most people under estimate how much they’d spend. Record your daily spendings. Gather all your receipts, credit card and ban statements. Keep daily accounts of what goes out and what goes into your accounts. Guess work won’t do it. You must know how much you’ve got to spend and keep to start with.

2. Check your bills and statements

Check everything you’re asked to pay, from credit card statements to grocery bills. Look for over charing and general mistakes. Who know how much money you could be losing buy not keeping an eagle eye on your account. I’ve lost thousands by not checking my credit card statements.

3. Start saving now

Most of us can save money if we simply cut back on non – essential expenditures. Some simple ways of saving include: Cancel gym membership if you don’t go more than once a week. Go out only once a week to eat. Eat breakfast at home. Don’t shop when you are bored. Buy a water filter instead of keeping buy bottled water.

4. Think before you spend.

Think about what your are buying all the time. Made spending hard. Rat everything you want to buy and only buy what you need or something you really, really, really want. Ask yourself: how much do I really need/want this? Buy the absolute essentials. If it’s something you really want than really need, sleep on it and reassess your desire later. Very often, you’ll find that you actually don’t want it that much after a couple of days.

5. Shop smartly and delay gratification

Don’t be a sucker for brands. Instead shop around for bargains. The richer you want to be, the more you have to delay gratification. Of course you need to maintain certain standard of living to be happy. But you do have to cut back, save and do without luxuries in order to have money to invest and therefore, have money further down the track.

6. Invest wisely

As tempting it may be to dabble in the stock market., or give your money to someone who says they can triple it in two weeks, remember it’s impossible to get rich quick. Unless you can afford to lose money, only take sensible risks with your cash.

7. Don’t give up your day job

Don’t be so quick to put your job on hold for a career break. Move to a less stressful job for less money. Or quit your job to travel round the world thinking you can always slip back into the job market. While these are all options that can work, the reality is that what you earn today may not be what you earn tomorrow. I’ve learned this in a hard way. So if you have a great job with a good earning potential, think long and hard before changing careers or taking a career break, and ask yourself whether you will financially regret it in five – ten years’ time. If the answer is “maybe”, think again. Think really hard about what you’re doing.

8. Protect your money

Pay attention to what’s happening to the financial market. Do you need to move your money around to make it work better for you? Or take your money out of something that’s losing money? Or change jobs because your current company is not doing well? Always look ahead for potential financial hazards that might knock you sideways, so that you can sidestep them before they happen.

9. Don’t put all your eggs in one basket

Don’t put all your money into savings account, share market or properties. Diversify in different investment streams. Properties, for example, is a great investment, but what would you do if the market crashed? Have you made provisions for your own financial security? If not, it’s time to do so.

10. Make the most of your spare time

We all have unused skills that others could benefit from, whether they are a talent for painting, making things or writing. You would be amazed at how many people make money form the things you take for granted. Research and see how others make money. Consider offering yourself out for hire. Get a second job! The fastest way to get rich is to increase your income by utilising your spare time. Think you have no spare time? Well, think of all the time you spend browsing on your smart phone.

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