I have a mixed history with my personal finances. Early in life, my mom and dad taught me to be a great saver. My mom taught me to invest my money wisely. I spent time with friends with bad financial habits. Good habits were replaced with bad habits. Through all this, I learned that I need to find a harmonious balance between the present and the future without being burdened by the past.
- Increase income – A lack of income has been the Achilles heel of my current financial situation. Without the income, it’s extremely difficult to achieve other goals in my life.
- Pay Down Consumer Debt- Eliminating debt reduces a financial burden and risk and frees me from the past. It lowers my Cost of living. It gives an ‘instant’ net return, frees up earnings to invest, and opens up opportunities.
- Minimizing Costs and Fees – Why give away money to a company for something you don’t need or can find for less. The money saved by minimizing cost and fees can towards your passions, goals, and priorities.
- Prioritize Spending – Some things in our lives are certainly more important than others. When we prioritize our spending it makes us fully aware of how our money is spent and allowing us to move in the direction we want to go.
- Live Frugally – Frugal living isn’t acting and being cheap. It’s about allocating financial resources to maximize its potential. It’s about being patient to find a great deal on something.
- Enjoy Life – Enjoying life is essential to having a great financial life. Allocating money enjoy life feeds the spirit if it nurtures the person and his passions. It prevents burn out and presents short term goals.
What are you doing to create a fit and fabulous financial life?
