Tag Archives: financial accountability

Discover Tips To Improve Your Finances In As Little As A Day

Yes, you can improve your finances in as little as a day when you apply the right strategies, but it all starts with YOU! If you take a little bit of time everyday to go over your finances and plan you’ll begin to make progress. It might involve removing debt a little bit at a time or it might involve making progress toward a future goal. In just 10 minutes a day you can transform your financial portfolio by developing ways to stay more accountable and pro-active with this essential part of life.

It’s not so much those big things as it is the little things that interrupt an individual’s ability meeting financial goals!

There are going to be times where some financial tasks are extremely nerve wracking and items that are often dreaded. However, you can’t run from your financial woes and approaching them in a positive manner can help you get control over your debt in a more constructive way. Just think, answering that collection call is better than avoiding it and not having peace of mind, don’t you think? Canadian consumers need to handle their dilemmas before they cost them far more in the long run.

Tips to Manage and Improve Financial Habits in One Day

money habits

  1.  Purge recurring expenses before you forget about them and they just keep sucking your money away. Do away with any that you absolutely have no need for such as: magazine subscriptions, tanning membership; etc.
  2. Contest fees that you feel you didn’t deserve. Banks are bad for slapping on overdraft fees, even when you get your deposit in. Because many banking systems are automated you have to call in and tell them your deposit was made. Don’t sit back and pay fees like these for no good reason–this just costs you more money.
  3. Make an extra debt payment. Whether this is towards a car loan or a mortgage, it doesn’t matter. If you can pay extra on your debt every month then you’ll soon have it chipped away to a far more affordable amount and be that much closer to having it paid off.
  4. Place yourself on a spending fast. You can slowly build up a cash reserve and finally stay on top of your bills, while saving time and money.
  5. Set a money goal and start devising a plan. Choose something that you have been wanting to do, purchase or go to for some time and set that goal. When you have something to look forward to you’re more willing to save, it’s a fact!
  6. Go for refinancing. If you have been working hard to restore your credit and have earned a possible lower finance rate, go for it! You can really save and be rewarded with lower interest that can then help you pay off your debt faster.

7 Simple Steps To Achieve Financial Security Before 30

Saving before 30

Everyone desires to be financially secure, especially when planning for that retirement.  However, for young Canadians, this is often the last thing they are thinking about–at least before they turn 30! This mind-set really needs to change.  Every Canadian needs to work towards financial security for their future. This alone alleviates a great deal of the anxiety and stress that comes with being an adult.  It’s a fact that financial insecurity leads to a great deal of health problems for many, but if you manage your money wisely and plan, you’ll live happier and longer!

If you’re worried you’ll have to sacrifice your short-term goals to realize your long-term ones, you’re wrong. You don’t have to do so. The following tips and advice being shared with you now will guarantee you can achieve financial security without having to really deprive yourself of anything.  It’s all about financial budgeting and being accountable of your own spending habits.

The following 7 tips will point young Canadians in the right direction if their goal is to have sound, dependable financial security before the age of 30. Remember, you don’t have to sacrifice entertainment and other extracurricular activities if you budget right!

The Top 7 Tips To Reach Financial Security Before 30

hand writes with a pen in a notebook

Tip 1:  Understand your most important asset

Your most important asset, when it comes down to finances and financial security is yourself!  Your career, your experiences, and any opportunities you’ve had, or will have play a role in establishing you as an adult and your financial future. It is your career and career opportunities which help to build your financial independence, so making the right choices is critical to the future.

Tip 2:  If you set short-term goals, the long-term will fall into place

It’s a fact! Planning too far into the future can leave you feeling defeated and let down, but planning short-term, realistic goals can get you on the right track and keep you there! Short-term goals should be kept realistic so they can be achievable.

Tip 3:  Develop an action plan and then worry about saving

Become a planner before you start trying to save and meet financial goals. If you plan right and stay goal oriented, you can meet the majority of financial goals you establish. For instance, setting a timetable to pay on specific bills like: credit card bills, school loans–and more, will help you prepare for a better road to financial independence.

Tip 4:  Stick to frugal spending habits

Teach yourself the value of money early, while in college even. If you can stick to those frugal habits you were forced to while in graduate school you’ll make better decisions for your financial future!

Tip 5:  Don’t live beyond your means

Don’t be like so many others and worry about making an impression in the crowd.  Living beyond your means open up the door to more debt, something you clearly want to avoid. When you do have excess funds, don’t fall into the trap of using this as an excuse to spend.  Saving your hard earned money is far more important than a new gadget!

Tip 6:  You have to become financially literate

This is a critical one!  Taking the time to research and educate yourself on saving and investing will ensure you stay on top of your financial future. Financial education will help you achieve all your financial endeavors and assist you in making the right investment decisions throughout your life.

Tip 7:  Always take advantage of the financial freebies!

You would be wrong to not take advantage of what is free!  From free seminars to free monthly savings accounts; freebies are meant to help you! Take advantage of the new Canadian tax laws and benefit funds without feeling embarrassed!  Many of these will allow you tax savings and help you get money back at the end of the year.

Savings for life