One great mistake that individuals can make is to delay on beginning an investment fund. This is most pertinent to young people who depend on their folks for monetary help. Mostly Millennials who are keeping up with the Y.O.L.O. attitude. Indeed, even the individuals who are as of now ready to take a shot along the edge do as such to have cash for particular spending needs instead of to have somewhat more cash to spare. We always hear people say that it is best to practice the “save before you spend” attitude. This can be practiced by students too. As soon as they get their allowance from their folks, they would already be able to set aside a little sum for their funds. Through time, the little amount they consistently spare will gather to a greater sum. This definitely take considerable measure of discipline to effectively pull off. These ought to be minor worries that ought to effortlessly be dismissed when the significance of setting up a reserve fund support is realized and achieved.
Little kids can start saving with spare coins. Older kids can already set up a bank savings account and practice saving up on a monthly basis. Cash gifts during birthdays and Christmas could be added to the savings as well. Disciplined savings should start at an early age until such time it turns into a habit…a good one in fact. I often hear my Mom when I was young saying that “Every cent is important as you will never have a hundred if you do not start with a peso.”
Financial needs today and in the future is something of certainty but its availability is not. Time is in favor for the Millennials, so while healthy and able, save for whatever financial need might come… NOW!
So what actually happened last 2017 with your goals? Did you focus on travel, relationship or financial goals? We’re you able to achieve what you have targeted? If not, fret not! You do not have to be hard on yourself because there are a lot of people (me included!) who did not perfectly achieved their goals for 2017. Good news is, it is a brand new year. We are all given the chance to start again, continue, add more goals and make new beginnings.
This new year, if we ended way below 100% achieving the goals we have set back then, then there has to be a different approach. New rules and terms has to be implemented. As they most people would say, change is necessary. Start with getting yourself a planner or an unused notebook to keep track of these goals. Might as well list down the goals in front and at the back of your planner. At the end of the year, you can easily check out which ones you have not yet achieved.
Sharing with you are some tips I got from a few financial planning seminars and training I have attended last year that you may want to try as well:
Write down your goals and their terms.
On paydays, pay yourself first.
Avail of a VUL insurance policy. (It is a good Medium to Long Term investment tool)
Eliminate your debt.
Cut down on the amount of TV time. (Unsubscribe to Netflix if you must!)
Turn your hobby into a small business.
Pack your lunch and avoid fast food.
Declutter and do a yard sale.
Avoid out of network ATM fees.
Stick to cash and stop using your debit or credit card if you have one.
Avoid items not in the grocery list.
Walk to work, carpool or take public transportation.
Go DIY (Cards, gifts, coffee and even repairs!)
Exercise and drink more water.
Grow your own veggies.
Balance your YOLO attitude.
Focus on your goals. (Eyes on the prize!)
There is no guarantee all these tips will actually help or have a massive effect in achieving your goals but trying them out will sure help YOU. When you become aware and become a lot more observant of your own attitude, then you have improved. You have matured. You become a better version of yourself. And, if you have shared the goals you have set to a family member or a friend, they have learned from you too. Achieving your goals became a happy process in the end, right?
Just keep going and trying for there is a ripple effect in everything. And remember, when you keep trying new things for you to achieve your goals, and you put your heart in it…there is no way you would not get it.
I have recently discovered Lumen5 from a friend and fellow freelancer. She made a very nice video for a client we are both working with and it is impressive. So, I got really curious of it as it will sure help me out in creating VLOGs which I can of course, use. Now, here is the first vlog I made based from my previous post “Financial Tips This Christmas Season“.
Lumen5 is indeed a great tool! It is a video creating platform to produce high quality social media content. It is user-friendly and has a wide range of free materials that you can use in your videos. This video I created is a mixed of my own images and from their media library too, including the background music.
The longest (and happiest) Christmas celebration is here in the Philippines. And a lot will sure agree with that. It is a fact that Filipinos celebrate the Christmas season from the first day of September up until the Feast of Three Kings.
Malls have maximized their marketing and sales strategies through markdown prices and buy one, take one offers. Credit card companies has the ongoing zero percent interest offer. Some has freebies and raffle prizes too. Bazaars are found in every town offering cheaper items. Aside from all these, Christmas parties and reunions are highlights of the Christmas season too.
Having enumerated all these, most Filipinos are prone to over spending during the Christmas season. So, how not to overspend? Check out Pru Life UK’s iFLY on ways how to stick to your budget.
May all these tips help you out and make your 2017’s Christmas a blessed and happy one!