How to Change Your Financial Attitude, and Your Life?
Money makes the world go around. It’s a fact that a lot of us don’t like – but it’s true. The more money you have in your savings account and your current account, the more comfortable and free you’re going to feel every day. However, it can be very difficult to build a positive relationship with money, particularly when you always feeling like you’re spending more than you earn.
One of the best steps that anyone can take to improve their lives, is to change their financial attitude. Once you alter the way that you think about money, it will be much easier to overcome the things that are holding you back.
1. Start an Emergency Fund
When people start to think about saving, they often consider what they want to have enough money for in the future, like a down payment on a new home or car. However, before you can begin to put money away for those future desires, you need to make sure that you have a safety blanket in place to protect you from issues that can occur along the way.
An emergency fund, even of just a few hundred dollars, can help you to protect yourself from unexpected expenses. That way, you won’t have to tap into your savings account every time something goes wrong.
2. Start investing in yourself
Most people assume that if they want to have a better relationship with money, they need to start telling themselves “no” more often. However, the truth is that to control your spending, you’ll need to figure out when it’s the right time to say no to certain expenses, and when it’s time to say yes. For instance, if you need to buy a new washing and dryer combo, then you might try and get something second hand for cheap.
However, spending a little more by borrowing money from a lender could mean that your new machines last a lot longer, and they cost you less in terms of energy usage too.
3. Use the 30-day Rule
We could all do with spending a little more time ruminating over our decisions before we make a purchase. One of the biggest spending problems that people have these days is that they buy things before they have a chance to think about whether they really need what they’re purchasing. Usually, when you’re making a small purchase of around $50 or more, it’s enough to give yourself 24 hours to think things over.
However, if you’re making a bigger purchase that’s going to cost a couple of hundred dollars, then you may need longer to decide whether the purchase is a good idea. The 30-day rule forces you to take a full month to consider your purchase.
4. Fix, Don’t Replace
We’re living in a society where people tend to throw things away more often than they repair them. However, the chances are that you could get years of extra use out of some of your bigger purchases if you’re just willing to spruce them up a little. For instance, if you don’t like your corner cabinet anymore because it doesn’t go with your new interior décor design, don’t get rid of it and buy a new one. Go online and find out how you can repaint the product to suit your new style.
The same strategy can apply when it comes to updating your kitchens and bathrooms. Fixing a few little issues and giving rooms a fresh lick of paint can give them new life that ensures that you don’t need to spend a fortune on new purchases.
5. Keep up with Maintenance
Speaking of keeping things in good condition for longer, maintaining both your vehicle and your home can save you a fortune over time. Make sure that you check your tire pressure regularly and check to see whether your oil levels are suitable for you take your car out for a spin.
When you’re at home, make sure that you’re cleaning floors regularly, and keeping your windows in good condition. Clear out your guttering at winter to reduce your chances of having problems with your roof. This will help to save you a lot of money long-term.
6. Haggle More
Finally, stop simply accepting prices as they come to you. Sometimes, you can get a much better deal on everything from your health and car insurance to your broadband payments if you’re just willing to haggle. All you need to do is tell a broadband provider that you’re going to switch to somewhere else, and they’ll usually give you a discount.