HOW IS YOUR FINANCIAL HEALTH?

There are many different aspects to a healthy lifestyle with financial being one of them.

If this is off then it can affect other areas of our lives and cause extra undue stress.

A quote I got told a while back which stuck with me… that actually really goes in line with what we say in here. (Act like the person you want to be).

‘Poor people save, rich people invest’

So if we want to be more financially secure… we have to act like a person who is financially secure.

I’ve spent a lot of time over the past few years looking into this and as this comes up a fair bit within conversations I thought I would post up some points I’ve researched/tried out.

1. Think like the person you want to be.

If you want to become better with money… act like that person.

The more you bring it into the forefront of your mind you will find ways to create extra money.

2. Education

Same as we say in the group, learn about finances, how to make extra money, how to make your money work for you instead of you working for money.

3. Be real with yourself.

Know your situation, where you are at, how you view cash, remove the taboo around money and your financial situation.

4. Remove first!

If you’re looking to save/invest then take a % out straight away.

If you wait for ‘spare’ cash you’ll find it next to motivation.

The moment it comes in get it put somewhere else, then you will not miss it as you will make do.

If you need to start with 1-5% & work up, you’ll soon find new ways to do it.

5. Make your money work for you.

Savings accounts only give 0.01-1% putting your money into a stocks and shares ISA you can get on average 7-10% if not more.

Also with this… you get interest and make more money off the interest & within a few years, you will earn more money off your interest.

Can also look at crypto & indexes, tracker funds etc.

6. Look where you are wasting cash.

There are probably loads of different places you are throwing your money away.

Be it drinks each day, credit cards etc.

Find them and get them paid off asap or cancelled.

7. Look for passive income streams.

Stuff like signing up to the referral program here, amazon, selling stuff from home on FB market place.

There are loads of ways to turn your financial situation around to benefit you and reduce further stress.

Just like everything else we speak in here… becoming more aware, acting like the person you want to be and education play a huge part!

Don’t let it stress you out when you can take control.

It may take you being frugal for a bit but you can put yourself in a better situation with a bit of foresight.

Educate, set a plan & look to the future can really help reduce a stress and help you square away your financial health.