Like the constant pursuit of physical fitness, financial success is something that often comes up as a New Year’s resolution. But how can you turn your goal into a series of steps that help you achieve it?
1. Create a Budget
One of the simplest and most effective things you can do to get control of your finances is to know where your money goes. Understanding how and where you spend can be a powerful insight and can help you set realistic savings goals. The Consumer Financial Protection Bureau (CFPB) offers a free income tracker, spending tracker, bill calendar, and budget sheet to help you get started.
2. Increase Your Contributions to Your 401(k) or IRA
If you already have a 401(k) or IRA plan, consider increasing your contributions now. Even if you only increase it by 1%, you are still making progress towards achieving your goals; it can make a big difference over 20 years. You should also consider increasing your retirement contribution the next time you receive a raise.
3. Improve Your Professional Skills
The best way to gain job stability and earn more money is to get better at your job. Pay attention at work. Look for ways to contribute. Be the person who gets things done. Seek opportunities to collaborate with your coworkers. Set short- and long-term goals. All of these actions can pay off in promotions and salary increases.
4. Learn to Be a Boring Investor
Famous economist Paul Samuelson said, “Investing should be boring. It should not be exciting. Investing is much more like watching paint dry or grass grow. If you want excitement, take $800 and go to Las Vegas.”
5. Ignore the Headlines
Headlines like “10 Stocks to Buy Now” may seem appealing, but that doesn’t mean they point to good investments. Remember that today’s market movements are not necessarily relevant to your long-term goals. Most people don’t achieve financial success by picking stocks but by saving a portion of every paycheck.
6. Focus on the Future, Not the Past
Many investors look backward. They examine last year’s performance and put their money into things that succeeded last year. This is not the best way to choose investments. Instead, focus on where you want to be in the future and consider which long-term strategies are most likely to get you there. Investing in a diversified asset portfolio, such as large-cap and small-cap companies, international and emerging markets, and real estate funds, is much better than moving money into what succeeded last year.
The great thing about these ways to achieve greater financial success is that they are simple and anyone can do them. You don’t have to guess the future or take big risks with your money. All you need to do is make a plan and stick to it.
Source: https://www.thebalancemoney.com/how-to-achieve-financial-success-4121181
}
.lwrp .lwrp-list-container{
}
.lwrp .lwrp-list-multi-container{
display: flex;
}
.lwrp .lwrp-list-double{
width: 48%;
}
.lwrp .lwrp-list-triple{
width: 32%;
}
.lwrp .lwrp-list-row-container{
display: flex;
justify-content: space-between;
}
.lwrp .lwrp-list-row-container .lwrp-list-item{
width: calc(12% – 20px);
}
.lwrp .lwrp-list-item:not(.lwrp-no-posts-message-item){
}
.lwrp .lwrp-list-item img{
max-width: 100%;
height: auto;
object-fit: cover;
aspect-ratio: 1 / 1;
}
.lwrp .lwrp-list-item.lwrp-empty-list-item{
background: initial !important;
}
.lwrp .lwrp-list-item .lwrp-list-link .lwrp-list-link-title-text,
.lwrp .lwrp-list-item .lwrp-list-no-posts-message{
}@media screen and (max-width: 480px) {
.lwrp.link-whisper-related-posts{
}
.lwrp .lwrp-title{
“`css
}.lwrp .lwrp-description{
}
.lwrp .lwrp-list-multi-container{
flex-direction: column;
}
.lwrp .lwrp-list-multi-container ul.lwrp-list{
margin-top: 0px;
margin-bottom: 0px;
padding-top: 0px;
padding-bottom: 0px;
}
.lwrp .lwrp-list-double,
.lwrp .lwrp-list-triple{
width: 100%;
}
.lwrp .lwrp-list-row-container{
justify-content: initial;
flex-direction: column;
}
.lwrp .lwrp-list-row-container .lwrp-list-item{
width: 100%;
}
.lwrp .lwrp-list-item:not(.lwrp-no-posts-message-item){
}
.lwrp .lwrp-list-item .lwrp-list-link .lwrp-list-link-title-text,
.lwrp .lwrp-list-item .lwrp-list-no-posts-message{
“`
“`html
};
}
“`
Leave a Reply