Part 2: Do you have good financial habits? Here are five more worth embracing!
Last month we introduced you to five smart financial habits that you could adopt to get your finances better organised! Now, one month later, we hope your organisation skills have improved and you are now ready to take on board our next five fantastic financial habits…all simple lifestyle changes that can help make your financial future even brighter.
1. Understand what your needs are compared to wants
We have become a society of seeing something we want, and buying it straight away on credit. We need to get back to basics and realise what we really need, as opposed to want. When you do genuinely need something, it’s time to learn how to save for it. Now that you should have a budget in place, you can organise your finances to facilitate the purchases you genuinely need.
2. Reduce debt
Don’t be tempted to get a new credit card just because of the great benefits it offers. Be warned it is just more possible debt. You want to start focusing on reducing your credit cards to a point you no longer need them, because you should now have learned the important skill of saving for what you need.
3. Meal plan, visit the shops less, do the pantry challenge
Write a weekly plan for each meal, and make your grocery shop a once a week visit. Also introduce the pantry challenge. Once a week you can’t say “we have nothing to eat” but instead you need to go into the pantry and create a meal. There’s nothing wrong with baked beans on toast!
4. Keep reading about good financial habit tips
The better educated you are, the easier you will manage your finances! There are thousands of great online articles on how to get good financial habits, so jump online and find more you can adopt! At Fair Go Finance we will have regular ones, so put us in your favourites!
5. If all else fails - you can get help
Heard it all before? Tried and tried but failed? Don’t worry. Some people can and some people just need an experts help. Managed Money is a new service we offer at Fair Go Finance which has experts take control of your finances, arrange your budget, pay your bills and even work out ways you can save. So don’t stress, head to Managed Money if you are ready and needing some expert assistance.
Now that we have provided you with ten good financial habits it’s time you put them into practice if you are ready to improve your financial position. Getting good financial habits is essential for all of us; after all, don’t we all want financial freedom?