As another new year has started, how are you dealing with your financial condition? What are the financial resolutions that you have made for this year? Making financial resolutions give you a target and keep motivating you to achieve it.
So, the smartest way of making 2020 a great financial year for you is to take lessons from successful people. We have prepared this list of top tips to fulfill your financial goals based on the advices of top millionaires.
- Investing in yourself is the most important thing- This financial resolution has to top your list every year. You are your most valuable asset and therefore, educate that beautiful mind of yours. Take care of your body because the healthier and smarter you are, the more money you’ll make. Never stop yourself from buying attires or stuff that makes you feel good about yourself and boost your confidence. Whether it is a new pair of shoes, a relaxing day at the spa, or a visit to your favorite hill-station, do what gives you peace of mind.
- Make good use of your money- Keeping your money safe at the bank is not at all a good idea. Use your savings to bring home some extra income. Are you wondering how? Well, there are several ways in which you can do it. You can invest in real estate, buy some shares, or start a business on your own. This way, you can use your wealth to live a quality life.
- Spend a portion of your income- This is the wisest financial advice that any sensible person will give you. Spending all your money is an extremely bad decision. If you are not good at it, make it a habit to keep aside 20 percent of your monthly salary. Always save for hard times, when if anything goes wrong, you can live on your savings for some months until you figure things out. Moreover, you also need to save for buying a house, a car, higher education of kids and so much more.
- Hard work is the key- If you feel exploited and underpaid in your current job, don’t feel disheartened. Hard work always gets rewarded in the long run. Perform your tasks sincerely and money will automatically follow. Soon, better opportunities will come in your life in the most unexpected ways. The same rule applies for your business. Consumers are bound to buy your products if they are of good quality and reasonable price.
- Be prepared for the four dangerous ‘D’s- If you want to be financially bulletproof, you have to be smart and start preparing now for the greatest threats to your monetary status: debt, bad decisions, divorce, and death. Moreover, retirement is another thing you need to take care of.
- Keep a track of your expenses- Keeping a track of how much money you spend in rent, transportation, education, and other responsibilities will ensure that you are in complete control of your money.
