Follow 10 financial rules will help you quickly achieve a comfortable life is the topic today. There are many complex and probably effective principles for accounting for income and expenses, as well as ingenious investment schemes. But most often they bring results only to extremely purposeful people with a mathematical mindset and an innate talent for doing business. However, this does not mean at all that other people who do not have such a grip, but who also dream of a comfortable life, do not have a chance. They just need to adhere to other principles and approaches.
At Happy Worthy Life, we love simple but effective solutions. Especially those that primarily affect a person’s worldview and subsequently allow him to acquire useful habits and reach new heights. The principles set forth in this article are just such.
1. Invest in yourself
The best contribution to the future that you can make is to invest in yourself. And the sooner you understand this, the better, because youth in this matter plays an important role.
This, of course, is about expanding the horizons and field of knowledge. Not formal education, but targeted study of what you are interested in. Books, online courses, certificates, personal development programs. You are your best asset. And the more you invest in yourself, the more valuable your investment becomes. In today’s world, many free classes and courses are available to everyone: try starting with them to understand in which direction to move on. And in the future, when the need arises to invest, do not be afraid to invest in your personal growth.
2. Remember the rule of three eights
Everyone knows that on average we work 8 hours, sleep 8 hours, and between these classes there is another 8 hours of our personal time. We sell working hours to someone else, and the hours spent on sleep are dedicated to our body. Accordingly, the only way to grow and improve your life lies in the remaining eight hours between work and sleep. Use this time wisely. Simply put, do something that will be useful in the long run: hone your existing skills and acquire new ones, instead of watching meaningless entertaining videos.
3. Be careful when lending to family and friends
Despite the fact that we love and worry about loved ones, we still expect to get borrowed money back, right? But the problem is that people can think differently. It is possible that one of your friends or relatives, asking for financial assistance, secretly believes that your disposition towards him allows forgiveness of debt after some time. But you cannot or do not want to afford such generosity.
Thus, mutual hostility inevitably flares up, and good relations as never happened. Therefore, it is worthwhile to clarify once and for all: either you should not borrow money at all, or do not be too lazy to agree on the shore, in what clear terms the debt will be paid.
4. Spend less and you will gain freedom of action and flexibility
In articles on financial well-being, one rarely sees direct instruction to just spend less. However, it is worth taking a closer look at this item, and it will take on a different meaning. Imagine a state where you finally want to break the vicious circle of routine and quit your unloved business, but it’s scary to take a responsible step into the unknown. Having started saving on what is most important to you the least, you do not infringe on yourself – you gain flexibility and freedom of action. You are buying the opportunity to change jobs, move to another place and say yes to things that matter.
5. Follow the 24 hours rule
When shopping, we are very easy to give in to emotions. When it comes to something big, we lose our heads from worries. And even if the plans for a small acquisition, we are in a hurry to make it, because it is insignificant money and a quick way to have fun. But it’s worth putting all such expenses into your mind and figuring out how soon the joy of new things ends, it becomes clear that these are completely unreasonable investments.
Therefore, in order to significantly reduce unnecessary expenses and make deliberate large purchases, it is necessary to comply with the 24-hour rule. Wait only 1 day before making a purchase. The emotions will settle down, the rush will disappear, and you will finally be able to understand what you really feel. You will be surprised, but most of the time you suddenly change your mind about acquiring without any reason.
6. Spend 1 minute studying costs every day.
This trick is surprisingly simple, but it allows you to keep your spending in check every day, not allowing you to spend too much due to distraction. Closer to the middle of the day, it is necessary to allocate only 1 minute to check and understand the financial transactions already made. This will help to immediately identify problems, stop the flow of spending and determine the acceptable level of expenses for the rest of the day.
7. Keep a special mantra in mind before each purchase.
Another simple way to slow down and ponder a purchase so that you don’t regret the badly invested money later is to keep a special mantra in mind. Suppose you saw a wonderful cashmere sweater, but now you do not need it or its price is knocked out of the amount planned for expenses. In this case, just scroll through the phrase, for example: “Is this sweater more important than a comfortable vacation next month?”
8. Do not fall prey to advertising tricks.
Large companies use many tricks to convince us to buy goods, even if we do not really need them. Most surprisingly, most marketing manipulations have long been exposed, but we still continue to trust false promotions and sales with enviable tenacity.
To prevent this from going on, it’s best to just inspire yourself with a certain attitude and keep it in mind all the time: any discounts and promotions always involve goods either at an initially overpriced price or not of very good quality. Ultimately, only the manufacturer will benefit from your purchase.
9. Shop alone
Shopping with friends makes us spend more for a variety of reasons. We go around more points than walking alone; when trying on things, we are so actively encouraged with phrases like “How does it suit you! Be sure to buy it! ”That simply has no other choice. On the whole, you have probably noticed more than once that during shopping with friends we are overtaken by some particularly high spirits, which provokes spending more than usual.
Therefore, the advice is simple: save communication with friends for a walk in the park and treat the purchase of goods not as entertainment, but as a serious event.
10. Get rid of the toxic thoughts associated with money
Contrary to the skepticism of some people, our inner beliefs really have tremendous power. And not magic at all, but psychological. By tuning in advance to the fact that it’s impossible to earn big money or that all the rich are scoundrels, and even more so if you don’t believe in solving local problems like paying debts and paying bills, you really can never achieve anything.
By disbelief in your own success, you simply lose your strength, you don’t see the point in taking any actions, and in the end you do not achieve anything, repeatedly confirming your inner convictions. Try, at least as an experiment, to change negative attitudes regarding money into positive ones and live with them for a month. The results will surprise you.
Bonus: financial independence will solve only minor problems
Do you know what actually determines the level of happiness and joy? If you think for a moment, you will suddenly realize that it is not money, but optimism and the ability to enjoy what you have that determine the success of every day.
The realization that money solves only minor issues, such as organizing a lavish wedding or a trip to an exquisite resort, paradoxically helps to earn more. After all, having made this formula the principle of life, you will cease to chase wealth as the ultimate goal and will be engaged in exactly the matter to which your soul lies. And everything else will certainly follow this.
What do you think about 10 financial rules. It can help you have a comfortable life. And what other rules could you add to this list?.