When we’ve facing problem about finances, most of us need to change their life. Whether a life change is easy or not, it is important for us to success through its challenges and adjust our life.
For those, who not prepared for the worst, they could become worst while those prepared could have another plan. Let’s read some general tips from “Eric Tyson in Personal Finance for Dummies Book‘ to change our life in finance :-
Stay in financial shape
– An athlete need to consistently able to withstand physical activities. They need to discipline by training and eating well during competition. The better you’ll be able to deal with life changes means the higher rate to success.
Changes require change
– In whatsever changes, we must change first. It will affect your lifestyle, income, spending and absolutely money.
– After change your life, procrastination can be costly. You may overspend and accumulate high-cost debts or take other unnecessary risk. Prepare to ensure you can save from these pitfalls.
Manage stress and your emotions
– Life changes ofthen are accompanied by stress and other emotional upheavals. Always prepare befor make decision. Take time and fully informed the situation. You need to educate yourself before taking some big decision.
After changes your life, you need to get on the path to financial success :
Don’t use consumer credit
– The use and abuse of consumer credit can cause long-term financial pain and hardship. To get on the path to financial success, you need to shun the habit of making purchases on credit cards.
Get in the habit of saving and investing
– You need to saving especially for your retirement account unless you want to accumulate down-payment money for a home or small-business purchase. You need to asked yourself, when to start saving when you can’t work. Try saving 5% from your salary and increase it year by year.
– It is a must especially for young people to have insurance. Accidents and unexpected illnesses can strike at any age and it is not enough to pay using your salary.
Continue Your Education
– You must continue your education because it could help you. Read, learn and continue to grow can help you advance in your career and enjoy the world around you.
That’s some basic change we need to do to become success.
Reference :- Personal Finance For Dummies