by realfin
How bruised are you from fighting with your money? It’s only been a few days after pay day and you’re already out of cash yet again! Not only do you now have to cancel your social appointments but you are also emotionally exhausted of being penniless. So listen up when we say that it is time right here and right now to break that cycle!
RealFin provides exceptional options as well as resources for long term financial planning because true power lies in empowerment. We care about your personal growth and have provided 5 super tips to better your money situation for more financial power.
- Set Financial Goals
RealFin’s 3Ps of goal setting are (1) maintaining a positive outlook, (2) examining possibilities and (3) prioritizing.
(1) Examine your situation and envision your short and long-term future. What are the positive things you want to achieve? While it is important to think about potential challenges, it is even more crucial to truly focus on what you want to accomplish and the benefits of that accomplishment. Positivity is a much greater drive than you think!
(2) Goals must be realistic and feasible. Set goals that you are financially capable of achieving. A dollar a day is better than setting a goal of ten dollars a day and unable to keep up with it.
(3) Prioritize what is important for you at this moment in your life; is it saving? Is it investing? Is it paying off a loan? Give yourself a deadline to make it happen and revisit your priority list regularly. - Budget Your Money
Budgeting is a very important part of becoming financially stable and it should not be hard. A simple budget can be done at the start of every month by recording your income, adding up your expenses, setting a spending limit and setting a saving goal. You can always adjust your budget as your goals change and at the end of each month see if it is going as planned. Remember that budgets allow you to plan for the future and tell your money where to do – not the other way around! - Save A Percentage of Your Income
A key component of improving your financial situation is knowing how to save. To do this you have to know what are your financial priorities and what are not. From this, you can determine what realistic percentage of your income can be put away. Savings are have proven to be important especially if there is an emergency or an unplanned expense. - Invest in Appreciating Assets
Appreciating assets are considered things that increase in value overtime and in Belize, the most readily available appreciating asset is Real Estate. Owning real estate is easy and is a financially safe investment option. You have the ability to generate wealth, use it as leverage and have a steady cash flow to better your money situation. Check out a listing on REALFIN’s page today! - Get Financially Literate
Being financially literate means, you know how money works and how to manage it. It is a stepping stone into becoming financially stable and you can learn this by reading books like “Rich Dad, Poor Dad”, “Richest Man in Babylon”, watching top YouTube influencers, attending financial improvement seminars and events or acquiring the expertise of a financial advisor such as a RealFin agent.
It can feel like a lot of pressure when it comes to managing your finances and it is most definitely not easy, but acquiring financial power is worthwhile. Reach out to RealFin and let us help you straighten out your finances!
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