The basic truth of life is that you can be as successful, as clever, and as well-liked as anyone else in this world. But if you haven’t got your finances in order, you are going to run into trouble. Yes, money isn’t everything but it sure helps, and that means you need to have a handle on it if you want anything resembling a good life. So to that end, below you will find some financial advice that you literally can’t afford to miss.
In charge, not control
Some people think that they are good with money because they cling to it desperately and control where every single penny goes. But they are mistaken. This isn’t being good with money this is being controlled by it, which is no way to live.
Money is a tool that needs to be used for the betterment of your life. You neither want to be controlled by it or want to control is too tightly yourself.
Instead aim for a happy medium, where you are in charge of your finances in that you decide where you will spend and what on. But you don’t have to scramble around for change or feel guilty if you spend a dollar or two over what your budget said you should.
Awareness is good
Next, some financial advice that you really can’t afford to miss is that being aware of your money situation is a good thing. Think of it as a fuel tank. If you have a long drive ahead you aren’t going to set off without looking at the fuel gauge to check whether you have enough to get you where you want to go, are you? The same applies to your financial resources.
Similarly, if you are on a journey and you are running out of gas, then you will stop to refuel. Or, if you are leaking gas, then you will stop to get the problem looked at and fixed.
Therefore if you are running out of money in one area of your life, you will need to make changes to top this up. Or if you are hemorrhaging out more money than you can afford, you need to stop and evaluate the situation to see why this is happening and what you can do to fix it.
For many folks, hemorrhaging money in this way is caused by having too many debts to pay off each month, against the income that they have. To solve this, it may be necessary to pay off some of the debts in full. Or take out one single loan to pay off outstanding loan and credit cards. Leaving you with just a single payment a month. You can visit Debt Consolidation Loans for more information on how to do this.
Emotion and finance don’t mix
We can’t help it, Some of us are just emotional people. We make decisions based on how they feel instinctively to us. But combine this intuitive decision-making process with finance, and you have a recipe for disaster.
It’s a cold hard fact that money and emotions don’t mix, and the more you can separate one from the other the more success, you will have in handling your finances and completing the advice above.