Top 7 Tips for Financial Prosperity
By Barbara Hause
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Whether you need to fine tune or do a complete overhaul of your finances the following 7 tips will help you achieve financial prosperity. These tips are not complicated or hard to do. In fact, they are so simple that most people dismiss them as unworthy of their attention and fail to realize their real power.
- Discover Solutions.
Many of us have a fear about looking at the actual numbers. However, if you do not have a clear picture of where you are financially, how can you determine what you need to do to solve money problems?
- Stop Speculation.
Do you spend anticipated earnings before you see the money? Build a reserve first and then spend according to your plan.
- Eliminate Temptation.
Stay familiar with a prioritized a list of needs and wants. A bargain is a bargain only if you have already determined its primary purpose.
- See the Big Picture.
Plan your expenses and income for a year. Income such as commissions, bonuses and refunds fluctuate throughout the year. Certain fixed expenses such as property taxes and insurance premiums or seasonal expenses are paid annually, quarterly or at other intervals throughout the year.
- Build Confidence.
Recognize the trade offs with the choices you make. It is okay to “splurge” and not feel guilty when you are familiar with your plan. You can make adjustments for unanticipated purchases without causing major setbacks.
- Avoid a Crisis.
Be cautious when borrowing money. Without a solid repayment plan over time interest, overdraft fees and late charges will accumulate to a significant sum of money which can never be recovered.
- Remain Calm.
Take your time making financial decisions. It is when you don’t have a clear plan for your money that poor decisions are made in haste or you can be easily influenced by advice that may not be in your best interest.
Barbara Hause MBA, Financial Counselor works with individuals and couples who want to improve their relationship with money and discover lasting, practical solutions to their money problems.
Article Submitted On: February 25, 2009