Here atwe work towards your financial success. Everyone will have different earnings, lifestyles and needs, but there are a few rules that we can all look to to ensure we work towards our own financial success. Here’s our top financial life guides at a glance.
1. Spend Less Than You Earn.
It’s the first basic rule of your financial success. If you can ensure that you are getting the right rate for what you do for a living and that you are managing that money then you’ll always be able to get ahead. Always look for where you can cut costs because it can result in big savings in the long run.
2. Have A Budget.
It’s not a dirty word, it’s just a way to make sure you understand your goals and know where your money is going. And it doesn’t matter how much or how little you earn, you still benefit from having a budget
3. Pay Off Credit Card Debt.
If there’s one thing that is going to eat away at your financial security it’s that easy-to-use bit of plastic in your wallet. It’s easily done, because it just doesn’t feel like real money, but that also means it’s easy to overspend and pay more for things than necessary. Only pay on credit cards when you have to. And only spend an amount that you can happily pay off month by month to make sure your interest doesn’t start becoming a problem.
4. Put Into A Work.
We can all now pay into a work. There’s no reason to opt out because your employer will be increasing your contribution and making it easy for you to save.
5. Make APlan.
The more you can save the better. If you can manage 5-10% of your monthly earnings then set it up so that they go directly into your savings account and forget about them. You’ll soon see that start to build up.
There’s plenty of things to invest in if you have some extra cash over and above what you are contributing in.Just ask our team for more advice. Call now on 0161 495 9340.
7. Review Your Insurance.
You could be paying too much for. It’s always worth reviewing to ensure you have enough insurance to protect your dependents, but that you aren’t paying too much at the same time.
8. Update Your Will.
If you have dependents, no matter how little or how much you own, you need a will. To find out more call us at Haven IFA on 0161 495 9340.
Can you tick all these boxes? If you aren’t meeting the mark with these top financial rules already, then start thinking about it today.
For more information and independent financial advice, call our friendly team at Haven IFA on 0161 495 9340.