Okay, so let’s start from the year beginning, we usually make plans with the best intentions and mostly we are determine in that time to follow it. But do we really make it work? Most of our “new year” resolutions are related to be more organise than previous year and happier existence of course. However, we always take resolution which revolves around the categories of physical and mental well-being. But despite of money being played as a vital role in our life, it’s surprising to notice that one’s finances never gets listed in the resolution.
We all want to save money right? We all want
money to create a happier future right? It’s just a matter of actually doing it
in a right way and with a proper plan execution. This so called thing “life”
gets in our way, we become too busy managing it, and it’s too confusing, too
hard to deal with it. Someone may probably use life as an excuse for why their
financial are a nightmare.
But the secret of life is – It doesn’t meant to be hard, until you make it.
Working hard for being financially strong need not be an exercise of self-deprivation, as many people assume it. With all the expenses that often comes in every individual way such as buying a property, starting a family, or purchasing a car, it’s hard even to think about the future in this period of price hikes. Attaining your goals even has some immediate benefits, as financial insecurity can become a serious source of stress.
We all know that nobody is promised tomorrow,
but I am sure nobody wants to live in a limited choice during the time of their
retirement. I believe rather than trying to do everything in one day, take step
by step and walked towards your financial security for better tomorrow.
The
Few Steps towards a Bright Future –
● Create a Budget and Understand your cash flow –
Do you know nothing can affect your financial
future more than your own ability to understand the cash flow? If you want to
save money for the future, you have to understand the current state of your
expenditures. It’s always easy say but harder to do. A budget is always the
first thing you need to take care off if you want your finances to be stable.
There are lot of ways you can break down all your spending habits. But
sometimes it is better to keep it simple. Always keep your needs on the
priority list such as food and your house rent.
Remember – Always take out the money first you need for saving before doing any expenditures.
Expert
Advice – Check all you’re spending weekly, as it is easier to take care off.
Emergency funds, long term goals and retirement all of them should be taken
care first.
● The Emergency Fund
Emergency situation can happen anytime with anyone, so be prepared for it from before. The best thing you can roll down to at that time is an emergency fund, very much essential. Your emergency fund sits gain interest, remained untouched and easily accessible whenever you need them. Emergency fund is the saved up income, for certain amount of time (it’s always decided by you). Yes, it is always saved for longer period of time; you can use that money for investing purpose too.
Expert Advice – Prepare for your future in advance, by saving certain amount of your money in funds and gain interest.
● Insurance
If you are financially independent individual, never ignore the basic insurance. The medical, car, house are some of the important investment in one’s life and insurance is important. You can never predict about your health, if suddenly anything serious happen that’s where your health insurance will work as bliss for you.
If you are planning to buy a new home or property ensure that you have title insurance for it. Your property is your investment, and if any damage or incident happen to your property there is always a title insurance to help you and get you out of your loss.
If you have family, who depends on you get a “ life insurance” done as soon as possible. The insurance depends on your financial situation, individual depending on your income and so on. Life insurance works for you as an income-replacement fund, when you can’t work at a certain point may be illness, injury or death.
Expert Advice – Insurance works as an emergency savior for you as well as your family. Insure your investments as soon as possible.
● Manage your monthly Bills –
Yes it is important to manage your bills. You must learn to say “no” to certain which you may have decided to say “yes” in mind. Few things are important but not much. So you must learn to avoid taking loans because it will affect your present money. By taking loans you are limiting your present and future spending choice. Instead of taking loan, save your money in emergency funds.
There is no magic involved in secure financial future; it all lies in your own hand.
So,
finally after a lot of discussion we have learnt that HAPPY LIFE = PHYSICAL
HEALTH + FINANCIAL HEALTH + MENTAL HEALTH + FAMILY HEALTH.