Securing your future should be a serious consideration. However it is most of the times not a priority for many. It should also not mean self-deprivation as many like to assume. It does have its immediate benefits too as by securing your independent future protects you from financial instabilities which are a major cause of stress.
If you succeed in attaining balance between work and play then that is one of the ways to lead a happy, enjoyable and successful life. Proceed then to invest in experiences, knowledge and skills. This are the greatest assets you have at hand. This you will accomplish by working hard in your career, continually upgrading the knowledge and skills you already have and making smart decisions when it comes to a career.
Another thing one should strive to achieve is being goal oriented. Setting goals and following a set plan on achieving them means being in control of what happens in life. You should also develop a saving plan which involves depositing the savings first thing after being paid. If you take the steps to start a saving plan from the first cheque you get, the compounding will ultimately work to favor you. The most crucial thing is development of the habit to save.
Instead of setting goals to be accomplished in the long run, set short term ones. They should however be measurable, precise, achievable and time bound. The constant setting of this and achieving them is what gets you to achieve the long term ones. One important piece of advice is to make sure your lifestyle is not above the income. This way the excess will be utilized to make investments, pay debts, save to buy a home or achieving various financial goals.
Making money does not mean one will automatically make it grow. Expertise on managing finances and investing them are lifelong activities. It is therefore necessary for everyone to make well thought about financial and also investment decisions to help them in attaining the set financial goals. The more experienced and knowledgeable one has on finance related matters then the mistakes made concerning such will be few.
Many successful people will tell you they took calculated risks. This is a prudent thing especially for the youth. Mistakes cannot be avoided as you carry on but there are lessons to learn from such as opposed to success stories. Given that one is still young, there are a lot of years ahead to recover from the financial mistakes.
If you have to borrow money it should be only used in investing where the gains from that will outrun the costs incurred in borrowing. This might require you to simply invest or invest on yourself like by upgrading skills and knowledge. The borrowing is what provides leverage required for you to achieve the set financial goals sooner. For anyone who is able to access financial freebies they are to take advantage of it.
Financial independence is something a lot of people struggle to attain. The task is not easy but still it can be achieved. One has however to list priorities and understand them well. The goals set should be time bound, realistic, achievable, measurable and specific and apply the above steps to achieve them.
If you succeed in attaining balance between work and play then that is one of the ways to lead a happy, enjoyable and successful life. Proceed then to invest in experiences, knowledge and skills. This are the greatest assets you have at hand. This you will accomplish by working hard in your career, continually upgrading the knowledge and skills you already have and making smart decisions when it comes to a career.
Another thing one should strive to achieve is being goal oriented. Setting goals and following a set plan on achieving them means being in control of what happens in life. You should also develop a saving plan which involves depositing the savings first thing after being paid. If you take the steps to start a saving plan from the first cheque you get, the compounding will ultimately work to favor you. The most crucial thing is development of the habit to save.
Instead of setting goals to be accomplished in the long run, set short term ones. They should however be measurable, precise, achievable and time bound. The constant setting of this and achieving them is what gets you to achieve the long term ones. One important piece of advice is to make sure your lifestyle is not above the income. This way the excess will be utilized to make investments, pay debts, save to buy a home or achieving various financial goals.
Making money does not mean one will automatically make it grow. Expertise on managing finances and investing them are lifelong activities. It is therefore necessary for everyone to make well thought about financial and also investment decisions to help them in attaining the set financial goals. The more experienced and knowledgeable one has on finance related matters then the mistakes made concerning such will be few.
Many successful people will tell you they took calculated risks. This is a prudent thing especially for the youth. Mistakes cannot be avoided as you carry on but there are lessons to learn from such as opposed to success stories. Given that one is still young, there are a lot of years ahead to recover from the financial mistakes.
If you have to borrow money it should be only used in investing where the gains from that will outrun the costs incurred in borrowing. This might require you to simply invest or invest on yourself like by upgrading skills and knowledge. The borrowing is what provides leverage required for you to achieve the set financial goals sooner. For anyone who is able to access financial freebies they are to take advantage of it.
Financial independence is something a lot of people struggle to attain. The task is not easy but still it can be achieved. One has however to list priorities and understand them well. The goals set should be time bound, realistic, achievable, measurable and specific and apply the above steps to achieve them.
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