Creating a sound financial life is something that most people don’t manage to achieve. But it’s easier than you might imagine. The problem is, there are a lot of little details to keep track of. Most people are so busy and distracted, that they overlook the things which could put them in a much better financial situation, especially because these behaviors have to be performed consistently in order to add up to real personal change. Fortunately, none of the good habits I’m about to describe are difficult on their own. They’re easy to understand. The challenge comes in committing to them.
- Investing Appropriately. Investment is a tool used by people who achieve long term financial well-being. But investment isn’t a single monolithic behavior. There are a million ways to invest. Some take only seconds (binary options trading with Banc de Binary). Others mature over decades (most low-risk retirement investment models, available to start through many online brokers). Whatever models you choose, it’s important to choose a plan that works with your income, goals, and lifestyle. It’s also important never to invest before your spending, debt, and savings are in order. To learn the basics of investment, do some reading on IRAs, binary options, 401(k)s, and other investment methods that are very easy to enter into as a beginner.
- Automate Payments and Savings. If you have ever forgotten to pay a bill, you know how easy it is. Unfortunately, every time you miss payments, your credit score risks going down. Make sure this never happens again by enrolling in autopay services for all your bills and utilities. You can also automate savings and investment contributions. By doing this, you’ll ensure that you don’t have money laying around which could be used for better purposes than casual spending. The best of all automations is the one used for killing off debt. If you have credit card debt or other high interest debt, automate as much money as you can spare to make it go away. Debt accumulates faster than wealth in almost every case. If you want to have money in the long term, get rid of debt now. If possible, automate aspects of the process.
- Learn One Recipe a Week. It’s almost always cheaper to cook for yourself than to pay someone else to do it for you. If you enjoy good food, but the only way you ever get it is from restaurants, start learning to cook. To make it happen, you’ve got to take baby steps. Research what you’d need to create one delicious new meal per week. But the tools and ingredients necessary, and set aside the time to make the meal with focus and leisure. When it’s amazing, add that meal to your repertoire. Little by little, you’ll have a lot of meals which you make confidently, saving you tons of money on meals bought outside of the house.
There are plenty of other habits which you can learn quickly. Most of the actions and decisions required can actually be accomplished in minutes – you’ve just got to do them often enough to commit them to memory.