Being the middle of June, I thought it would be a perfect opportunity to discuss the need for preparation and it’s importance before the next Financial Year. Have you got everything sorted and ready to go for the close of the 2012/13 Financial Year?
Have you followed through on your financial new year’s resolutions? Or have you found 6 months later you haven’t started?
Did you make the resolution to build your savings, but haven’t started? Do you know that you are paying too much on your mortgage with interest, but you just couldn’t be bothered going through the paperwork or hassle of sorting things out?
Or did you promise yourself you’d start tipping extra into your superannuation but still haven’t made the call to payroll to set it up?
It is time to give yourself a kick up the backside and take some action – if you don’t help yourself out, who will?
Remember, it’s never too late to start!
Some tips to get your finances in shape include:
1. Cut Credit Card Spending.
Take your credit cards and put them in a safe place in your home, not in your wallet where you have easy access to them. If you are the type of person that argues that you need your credit card for emergencies, just be sure to keep a small amount of cash hidden in your wallet for these emergencies.
2. The Thirty Day Rule.
Whenever you’re considering making an unnecessary purchase, wait thirty days and then ask yourself if you still want that item. Quite often, you’ll find that the urge to buy has passed and you’ll have saved yourself some money by simply waiting.
3. Find A Cheaper Supermarket.
Most of us get in a routine of shopping at the same supermarket, even though quite often it’s not the one that offers the best deals on our most common purchases. Fortunately, there’s a simple way to find the cheapest store around. Just keep track of the twenty or so things you buy most often, and then shop for these items at a different store
4. Create A Visual Reminder Of Your Debt.
Basically, just make a giant progress bar that starts with the amount of debt you have and ends with zero. Each time you pay down a little bit, fill in a little more of that progress bar. Keep this reminder in a place where you’ll see it often, and keep filling it in regularly. It keeps your eyes on the prize and leads you straight to debt freedom.
5. Never Ever Give Up.
Whenever the struggle to achieve your financial goals feels like it’s too much, clear your head (go for a run) and remember that there are a lot of people out there fighting the same fight. Read around and learn some new things – and perhaps get inspired to keep going, no matter what!
Remember, “Too many people spend money they haven’t earned, to buy things they don’t want, to impress people they don’t like” – Will Smith
If you don’t put the time and effort into sorting things out and making your money last as long as possible, you have no one else but yourself to blame!
Do you need help with your finances today? Then feel free to contact ZJL Partners or visit our website at www.zjl.com.au.