When people talk about being healthy, you’re brain probably throws up images of smashed avo on lightly toasted sourdough, soft poached eggs on a bed of quinoa, performing self-care and running shoes – loads and loads of running shoes. But what if there is another all-important part of life that you should be healthy in: money.
When financial woes strike, stress-levels skyrocket, and when stress-levels skyrocket, your health is the first thing to deflate faster than a popped balloon. That’s why we’re here with a few healthy-money secrets; secrets that can be used to save you money, even if it doesn’t feel like you have any money to save.
Of course, by ‘secret’ we actually mean ‘commonly known’. You have just been ignoring them all this time. Well, starting now, all that stops:
Budgets Are Beautiful
There is nothing more stunning than an easy to adapt budget, one that shows where your money is going and what money is coming in. That doesn’t mean you have to unleash a gloriously intricate budget. Not at all. Just know how much is being spent on housing, utilities, groceries, debt, and entertainment – the usual suspects of a typical month – and then spot any trends or problem areas. Simple.
Spend Less Than You Make
No one in the history of humankind has ever fallen into the debt trap by spending less than they earn. It’s as simple as that. It’s called cash flow and it is king. Look at it like this: you make $200 and you spend $220 – where the heck did that extra $20 come from? The answer: a loan of some kind, a credit card maybe. That’s how almost all money issues start out. Don’t fall into the same trap.
Get Help Saving More
If there are two areas that require formal education to absolutely nail, they’re accountancy and law. They’re so convoluted and complex that no newbie should step into the ring unassisted. Let’s say you’ve been in a car accident. It makes a million percent more sense for you to hire an experienced legal team for injuries and get the compensation you deserve than it does to save a few pennies on the front end and come out worse off. The same goes for saving for your future. Instead of just putting X amount away each month, speak to a financial planner or a portfolio manager and make your money work harder.
Stop Wasting Money Now
Yeah. You’re wasting money. You might think you’re innocent, but you’re wasting money in more ways than you can imagine. You’re paying for cable even though you only watch the same six channels. You’re still buying branded products when you go grocery shopping. You’re not tapping up your local library for books. You’re buying bottled water and you’re overpaying on your car insurance. Stop this nonsense by using Netflix and Freesat, buying generic brands, not buying new books, having a filtered-bottle and raising the deductible on your insurance. You’ll be like ten times more financially healthy. That’s a promise.
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