New Year is typically filled with expectations of future success. While weight loss is still the most popular New Year’s resolution, it appears to come in better fiscal form on lists, most people, too. Like physical fitness, true financial fitness takes continuous effort in all seasons, but getting out on the right foot feels good. So, as a New Year into the ring, let’s consider 15 exercises that make the heavy lifting as they develop a well-rounded plan designed to build financial muscle. Get a firm grip on stress.
That’s right: stress management is one of the best financial exercises to increase core strength. Learning to deal with the daily stresses of work and family – or the extreme levels generated by the crisis in one aspect of life – offers lasting financial benefits. In addition to the obvious benefits of feeling good and sleeping well, it is easier to keep your head clear and therefore make the right decisions that support financial goals when new opportunities are present.
You need to develop something called an emergency fund to help prevent emergency expenses or other unexpected situations from blowing your personal finances out of business. An emergency fund is basically a savings used only in emergencies.
Start saving as early as possible.
Money squirreled away in savings accounts usually accumulates interest at a fixed percentage. The longer your money stays in the savings account, the more interest you accumulate. It is thus in your favor to start saving as soon as you can at all. Even if you are only able to contribute a small amount to your savings every month when you are in your twenties. Relatively small amounts of cash left in the making of interest accounts for long periods can eventually accumulate to several times their original value.
In fact, throughout the Arab world, women now earn more science degrees on a percentage basis than women in the United States. In Saudi Arabia alone, women earn half of all science degrees. And yet, most of these women are unlikely to put their degrees on paid use for very long.
From this point forward, I established some clear goals right away. Financial goals setting is something I’ve always done, even as a little boy. I used to have a candy tin where I saved what I earned from the pet sitting demonic cat who lived next door. I kept a notebook in there with a financial account for all the money I want saved, along with a rough, childish drawing of a red Mitsubishi Eclipse – my then dream car.
Don’t be afraid to take advantage of local free food resources if your situation is severe.
Food banks, soup kitchens, and shelters can all provide free meals to those in need. If you need assistance, contact your local social services department for more information.
You can save money by getting offers from various insurance companies to find the lowest rates. Also, by taking daily steps now to keep you healthy, such as eating fruits and vegetables, maintaining a healthy weight, exercising, not smoking, not drinking alcohol in excess, and even driving defensively, you will thank yourself down the road when You are not paying exorbitant medical bills.
Obtaining a borrower card only takes a few minutes, whether you do it online or in person. By presenting your borrower card, you can draw DVDs, keep them for a week and pay nothing. Your friends and family will be happy and you can save anywhere from $ 5 to $ 25.