8 Tips for Financial Wellness

Hi all. Found an excellent article that I am sure many will relate to. Hope you get something useful out of this...

Often at the start of a new year, one of our most popular resolutions is to become more financially stable and responsible. Overspending and overextending ourselves often comes from a place of lack and not feeling as if we have enough. It is an emotional issue as much as a material one.

Money is a deeply personal subject and financial circumstances vary greatly from individual to individual and family to family. There are no one-size fits all rules regarding money but there are some general tips that work well for most people.

Here are 7 tips to creating the abundance and calm you deserve:

1. Where are you over-extending? Do an honest expense report for yourself. Where are you spending too much? Rent is a common culprit -- experts say this should not be more than 20 percent of your income. Moving to a cheaper place is extremely freeing!

2. Automate your savings. This is a trick many financially savvy people know about. Before you spend a single cent -- put away at least 10 percent of your income into a savings account. If you can, put all bonuses (or any expected income) into this account too. Name it something fun like "Round the world ticket" or "Dream Home" to remind you why you are socking cash away each month.

3. Limit the entertainment overdose. Eating and drinking out are often the reason the old catch phrase was coined -- to have too much month left at the end of the money. Only commit to things you can afford and don't say yes to things just because you are invited.

4. No spending one day a week. This can be played creatively like a game! If you have a transport pass, food in the fridge, coffee in the cupboard and wifi at home -- you are set. A walk outside, making lunch for your partner and Skyping a friend are all free and fun!

Looks like really useful info? Just click HERE to find out more. If you’d like to share perspectives or discuss how it relates to your business, call me on (0414) 934-277 or email me at [email protected].

Thanks,

Carmen