The Best Financial Help In Ten Words
When it comes to sorting out that stubborn debt or saving up for that well earned retirement, many consumers tend to search for long and complicated answers. After all, if the process of getting rid of debt and saving up for retirement can take decades, then that means that the best financial advice should be just as lengthy, right?
Actually, some of the best financial advice comes from the oldest proverbs and wives tales around. Get ready to simplify your financial struggle by following these little pearls of wisdom, all of which are written in ten words or less:
Put aside money whenever you get paid. It can be all too easy to believe that it takes big chunks of money to get rid of your debt, not to mention winning a few lotteries here and there! However, even the smallest contribution towards your credit card debt or your mortgage will take you one step closer towards the financial freedom that you’ve been dreaming about. Small but determined steps will always get you to the finish line, while waiting for that lottery win will hardly get you to where you need to go!
Know the difference between needs and wants. Thanks to the recession, it’s almost certain that you’ve heard this advice before; however, it couldn’t be more spot on when it comes to straightening out your finances. Needs are things like food, shelter, utilities and other items that make your household work – wants are luxury electronics, brand-name clothes and other splurges that will just plummet you further in the paycheck-to-paycheck cycle.
Buying quality is smart. Stretching your money is all about finding cheaper options; yet sometimes it’s more financially savvy to buy a high-priced quality item than to downgrade (fashion doesn’t count!). A high-quality item will be backed by a support team who will fix it for free whenever it breaks down or doesn’t work – just try getting that same deal out of the cheaper guys!
Save today what you want tomorrow. Credit cards have made it all too easy to go out and purchase whatever we want without saving up for it. Yet if you want to break out of the debt cycle, you need to save up for those purchases that you want, as credit card balances will just keep you in that dreaded debt cycle. If you want that expensive mp3 player, then put aside money each month for it, since you’ll feel better listening to it knowing that it’s completely paid off!
If you need money, make more money. Feel like you don’t have enough money to take on your credit card bills? Instead of hoping to win the lottery, go out and make more money! You don’t have to get a second job to see a new income stream; try selling secondhand items to family members and friends, and applying that money to your debt.
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