Mahatma Gandhi used to say, “There is enough on this Earth for everyone’s need, but not for everyone’s greed.” Today there is a trend that dictates people buy more and more and more - there's no limit to it. What's worse, there is no feeling of contentment. The key to happiness is simple living and to ensure a safe future.
How do you ensure a safe future for yourself and your family?
If and when you ever find yourself in need of credit repair services, know that you are walking on the wrong path in respect to the security of your future. Here are a few tips that will ensure that you have a worry free life (from financial requirements).
1. Retirement planning starts with your first check – don't think that retirement plans are only for those who have crossed middle age! If you want to enjoy a good and carefree senior life, start saving for your retirement from your first paycheck. The earlier you begin to put aside for your old age, the more comfortable will be your golden years.
2. Begin saving for your children’s college education right from the day of their birth. Start an investment plan that requires as little as $50-100 per month. By the time it's college time for your child, you will have a comfortable nest egg ready for their expenses.
3. Save, save, save – aim at saving 15-35% of your income. Pay your saving plans first - and then your bills. While saving, don't only put money together in a saving account. Either educate yourself on what would the best investment options for your budget and time span, or consult a professional agent/agency.
Don't worry! This expense is well worth it!
4. Say "no" to credit cards – as much as possible avoid using credit cards. However, in case you find yourself in a jam with credit card bills, the first step is to immediately transfer the balance from the highest to the lowest possible interest rates.
Pay down as much as you can, and liquidate the outstanding balance with the credit cards on a fire-fighting basis. It's critical to your financial well being to pay the credit card bills in full before the due date; avoid at all cost paying the minimum amount due, as this is a trap that will lead you into crushing debt.
5. Stop trivial expenses – having a cup of cappuccino once in a while is a lovely treat. However, if you do it on a daily basis you will find that it drains your funds without any actual gain. The pleasure it gives does not justify the huge amount that you'll have spent at the end of the month.
If you like coffee, invest in a good thermo flask and carry hot water and Nescafe pouches with you. You can have amazing coffee whenever you want at a fraction of the cost.
Stop smoking. Stop impulsive shopping for things that you don't really need.
Always look for value for your money. Let this be your ground rule. Get the most out of every cent you spend, and you will find at the end of the month that you're more content and happy with the way you've spent your money.