Useful financial habits

An old Chinese proverb says: "Sow an act and you reap a habit, sow a habit and you reap a character, sow a character and you reap a destiny." But do not rush to put up with a sad fate, even if you realized in the twinkling of an eye what all your irrational actions and bad habits are. There is a way out: you just need to replace ineffective habits with those that will help bring your dream lifestyle closer.

Think about what habits are driving your financial situation today, and which of them prevent you from achieving wealth. Make sure you write them down in your notebook: awareness is the first step to rectifying the situation.

And while you are analyzing the material side of your life, we offer you a list of new financial rules that you should adopted not starting from next Monday, tomorrow, or January 1, 2021, but right now.

Habit № 1. Count money. Learn how to manage your cash flow: count your income and control your expenses. Don't make impulse purchases, make a financial plan and follow it.

Habit № 2. Pay yourself first. Save at least 10 % of your income as a safety cushion and primary investment capital.

Habit № 3. Diversify your savings. Keep your funds in three currencies: the currency of your country, the US dollar, and the euro. This way you won't lose anything if the exchange rate fluctuates.

Habit № 4. Increase your income. Saving money won't help you get rich in the long run: you can reduce your spending by 40% and increase your income by 10,000 %. Only a steady increase in cash inflow will lead to real wealth.

Habit № 5. Set financial goals. Shape a specific goal: for example, in 3 months I should be earning 20% more than now. When you reach a goal, gradually raise the bar.

Habit № 6. Do charity. To receive more, you need to give more, this is the law of the universe. Plan your monthly expenses taking into consideration the mandatory percentage or amount that you will give away to help people, animals, or the planet.

Habit № 7. Protect your family. We never include a disaster or other problems in our plans, but your family should be protected in case it happens. At least, with a life insurance policy. Think about it.

Habit № 8. Replace negative thoughts about money with the positive ones. Make it a rule to thank the cash flow every time funds are credited to your account and every time you spend them. Treat money light-heartedly and respectfully, and you will see that it will reciprocate!