The success of life depends on many things, such as career, health, life-style, etc. For all of them, money is the prime need. For sure, you try to earn best and get the highest level of satisfaction that you are a successful person. However, the fickle natured money matters keep giving you new situations. In that case, a feel of failure starts intruding your life. This is your red zone alert and you should get on your toes now.
In any case, do not let the life go off the track and start working on the improvement needs.
A successful person is the one that has no obligations. In the money driven world of today, this may sound like an absolutely impossible thing. Ok fine, may be not completely debt-free but at least a decided limit should be there. If your monthly budget gets suffocated every time due to the imbalance of income and outgoing and the major expenses are on debts then it is the time to change. Nowadays when everything is available online and on instalments, people has become so prone to the loans. They buy a mobile on instalments, microwave is on loan, fridge, home appliances even clothes are available to buy on instalments. Result is, multiple repayments. Many people see worst of this situation and slip into very poor credit situation due to missed payments. This is the condition, where getting very bad credit loans with no guarantor is the only solution. Only direct lender providing these loans can help you then.
Make sure you stay away from such situations. All these obligations have very small instalments, which make you feel that this is manageable. However when they all gather together, oops! your finances go upside down. Avoid taking too many loans, no matter how small they are and buy things only that are necessary.
Those who use credit cards smartly, wisely and most important patiently are less prone to financial frustrations. In short, they live a happy life. Countless people in the world are bearing the bulky dues of credit cards. The purpose behind the word bulky is to denote the presence of high, in fact very high interest rates. You miss just one instalment, and it keeps on adding every month to become monstrous one day.
Why this happens? Any guesses? Well, sorry to say but you are the cause here. Due to the easy availability of money in the credit card, you become prone to buying things quite frequently. For everything, you take out your credit cards. The transactions that you can make in cash or through online or may be Google pay, finally get done through credit cards. You know what, that habit of yours of pulling out the credit card frequently from wallet, purse or pocket is your actual enemy.
USE CREDIT CARDS FOR ACTUAL NEEDS AND NOT FOR DESIRES. Buying grocery with this is fine but doing shopping every weekend is like financial suicide. Do not let it become your habit.
Where the hell that habit of saving has gone? You may criticise old ways of your parents and grandparents but the smartness and patience they had in financial management is absent today. They gave utmost importance to savings. One penny saved is one penny earned was their principle as well as practice. The big house you have at your native place came into existence because of their unshakable self-discipline that included saving habit. No matter how desperate your desires are for weekend parties, luxury vacations, lavish shopping, the concern for future should always be in the focus. Stop spending money off handed and start investing your today for the preparation of tomorrow. Save as much as you can and to make your savings work even better, invest a part of it in a lucrative option. How about compound interest thing? Not bad, right?
This is a common but most effective suggestion. People do not believe in this concept much, but it has power to change the big things in your financial life. Water, electricity, gas, television, etc. get a considerable share in the income. Compare with the other providers and get better rates, express concern to your current one. If they can change the rates to make them more affordable then great, otherwise, switch to the new provider.
Every single coin of your hard-earned money is precious and wasting it for no reason is like insulting your own hard work. For sure, you do not want to do that. Best thing is to cut the expenses that are unnecessary. May be you spend a huge part of the day out from your home and come late night spending last hour before sleeping, while watching a T.V series on your mobile. Why not cut the cable connection or stop taking subscriptions for television.
Success is the synonym of self-discipline and wise money management. Do that with focus and you are sure to be tagged as a SUCCESSFUL person.