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Are your finances feeling low? These money rules will make them happy

Are you in a financial situation where uncertainty is the only constant? If yes, then I’m afraid your finances are screaming HELP! So, what should you do to keep your finances happy? Do you have any idea?

Well, if you’re confused, then let me tell you that there are some simple money rules which can help your finances become cheerful again. If you wanna bring back your finances on track, just be patient and follow these money rules by hard. SIMPLE. 🙂

1. Save more and spend less

Isn’t it sounds simple? Yet there are many individuals found buried deep in debt or just living paycheck to paycheck. That’s quite depressing! Isn’t it?

If you don’t want to live a life like that, then open a savings account and start putting some money there. If not more, try to save at least 10% of your income. I’m sure, this money will be your savior in a financial crisis.

After meeting all your monthly necessary needs, paying off debts (if you have any) and utility bills, and saving a minimum amount if possible, try to invest your money in something useful. It’ll help your money grow. But, don’t forget to consult an investment advisor before investing your money.

2. Plan well before you buy anything

Unplanned purchases always help you spend more money on unnecessary things. Thus, draining your hard-earned money. You should plan well and make a list before hitting the stores. By doing this, you can also keep track of your money’s whereabouts and control your expenses.

The next time you go grocery shopping don’t forget to make a list. Remember, no list equals to less money in your pocket. So, make a list of things that you want to buy and stop your dollar from vanishing.

3. Keep money aside for retirement

Would you like to spend your retired days worrying about money? If not, then from now onward keep aside some money for your gray hair days too. Also, take advantage of the employer-sponsored retirement funds. If you do so, you’ll be able to enjoy a stress-free and happy retirement.

4. Save money for your rainy days

Apart from saving for your retirement, you must not forget to save for emergencies. Emergencies are uncertain and if you haven’t kept the money for your rainy days, then start doing it right now. You should save at least six months of living expenses in your emergency fund. While you build your emergency fund make sure you have a plan B like money saved in Roth IRA or unused line of credit.

5. Live on a cash diet

It is proven that we tend to spend less if we use cash for paying our bills. This is because when we’re taking out money to pay the bills we can keep track of how much money is going out of our pocket. Whereas, if we pay our bills with credit cards we won’t be able to track how much money we’re spending.

So, you are advised to make payments with cash. This way you can keep track of every dollar you’re spending.

6. Find out new ways to earn money

It is the best money rule you can live by. Besides, saving and investment for your secure financial future you can always find out new ways to earn money. You can start a part-time job or do freelancing. Find out your extra skill and use that to earn more money. For instance, if you’re good at writing, you can choose freelance writing.

7. Pay off your debts quickly

If you want to keep your finances happy and stress-free, then try to pay off your debts as soon as possible. The more you have debts, the greater will be your financial risk. So, keep aside some money from your paycheck to pay off your debts. You must avoid doing things that’ll drag you to debt. If you’re having difficulty in paying off your debts, take help from a good professional who’ll guide you in the right way.

A piece of advice: Maintain a monthly budget plan and try to stick to it. It’s a money rule that can keep your finances on track and cheerful.

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