Saturday, December 23, 2017

Time Is More Valuable Than Money

Just read the title of this blog again. Now think about all the financial habits you have
promised you were going to adopt but have kept putting off. We know it’s hard to get
everything done because, well, quite simply, life is one hectic mess of bits, bobs, tasks,
chores and tidbits that all need attention, but the more you put off being money-savvy
the less impact your efforts will have. That’s why you should get the red pen out and start
re-organising your priority list, putting financial health at the top.

Whether it is starting a monthly budget or putting money away for your retirement, the
sooner you act the more benefits you will reap. So, to prevent ourselves from becoming
somewhat hypocritical, let’s crack on with the money habits you need to adopt as a matter
of urgency. Trust us, these will all help you lay the foundation for a much healthier future.

1. Nothing Beats A Budget
You have been reading about the importance of a budget for six and a half years, and yet
here you are, still trying to get by without one, guessing your way through each month,
not totally sure of your financial position. Look, the reason why every expert emphasises
the importance of a budget is no one ever went bankrupt by spending less than they make.
So, know what you are making, know what you are spending and know what you can start
doing with the rest. Simple.

2. You Can’t Celebrate Without Goals
Sticking to a budget is super-hard when the temptation of buying the funner things has
something to say (as it always does!), which is why it is so important to set financial goals.
It is having a reason to hold back and seeing the importance of your sacrifice. Of course,
doing this on your own can be tricky, which is why we recommend you employ a
professional service, someone like Blueprint Wealth financial planning, for help. It
could be that your goal is a deposit for a house, paying down your nasty credit card
debt or enjoying a more cushty retirement. By having this goal, you will have a reason
to put a little bit aside each month. Trust us, this feeling of succeeding in your ambitions
is addictive, and it could spiral into bigger goals.

3. Curveballs Always Come At Bad Times
Have you noticed how life loves to throw you a curveball when you least want it? It’s like the universe suffers from a harsh case of epicaricacy and you are the victim. Your car breaks down the week before Christmas. You lose your job on your birthday. You get meningitis from totally out of the blue just as you are embarking on a startup attempt. These are all unavoidable things and all you can do is cushion the impact, which is where an emergency fund comes in. Life can be mean, but you can be prepared. Who knows, this emergency cash could be the thing that saves you from more debt or the thing that lets you ride out a once-upon-a-time-disaster as little more than a speed bump.

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