![]() ![]() ![]() Get out of Debt: Debt hampers your ability to build wealth. As one grows older insurance becomes more expensive. ![]() One should consider investing in health insurance early on. Plan for your medical expenses and health insurance well in advance. As you age, health issues might arise without a warning. If one already has considerable nest egg savings, consider evaluating the amount and building a bigger margin of safety. Creating a bucket of money( liquidity ) that isn’t prone to market risks and can be accessed almost immediately is important during emergency. Over time we appreciate the value of these changes we make and reap a rich reward in our livesīuild a Nest Egg: Most of us would have heard the acronym VUCA ((Volatility, Uncertainty, Complexity and Ambiguity) World.One should be prepared by keep a safety margin for all financial resources. We often underestimate the benefits of what we could achieve over the long term whether it’s savings, cutting down on spending, investing or even starting out on our own. Planning ahead is a key trait of successful people. Think Long Term: Start working towards a long term financial plan for your life. In today’s fast paced world, it’s all about having the right skill to navigate and even earn sufficiently. ![]() Even if it’s a hobby or passion that you like to pursue, invest your time and money to learn or get better at it. Improve yourself so that you become more valuable to your employer, your business and in your life. Invest in Developing yourself: If you are investing enough time in making yourself better at your work, your income producing ability is sure to increase. Instant gratification can be an expensive affair in the short term and it can snowball into a bigger problem if it can’t be controlled. If you are able to resist your ‘I want it right now’ temptation, you have successfully overcome your first obstacle towards money creation. When you avoid instant gratification and save money you are giving your money a chance to accumulate and grow. Using a Piggy bank or dumb box is a smart way to begin savings. Even if it’s a small amount,bundle them up and save. Find unique methods to save, store and invest your money. Restrict your spending by setting a spending limit for yourself. With more and more e-commerce sites offering bigger discounts to get a share of your wallet, you are sure to spend a lot more time browsing through shopping websites. If you aren’t sure where to start, here are 5 smart money moves for 2019 so that you can have a great 2020.Īvoid Instant Gratification: SALE, SALE and more SALES is going to be the order of the day in 2019. From mending your money spending habits to saving up a little more every month, a few smart money habits can put you on the right track of being wealthy. Making smart money choices requires a well laid out money strategy, a bit of education and a lot of willpower. With 2018 winding down, it’s an excellent time to start planning your money strategy for the whole year. While we do set goals for our physical fitness, it’s also crucial to start planning for financial fitness. It’s that time of the year again when most of us are busy setting fitness goals, targets and resolutions. ![]()
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