Ask Away...: Do It Now, Not Later: The Mantra For Your Finances

Thursday, July 6, 2017

Do It Now, Not Later: The Mantra For Your Finances

Procrastination is the mortal enemy of good financial sense. It doesn’t matter how much you’re earning, absolutely everyone is able to find a little wiggle room by creating a budget. When you do, what do you do with those savings? Here, we’ll look at the case for putting that extra towards your future as soon as possible and how it can the solution to a life full of financial uncertainty.

Get money to make money
Everyone wants to be a bit better off than they are now. To at least know they can take care of themselves if nothing else. But the best way to make money isn’t to work for it. Those who get rich usually do it by investing. You won’t get rich investing a few dollars at a time. However, the growing availability of low-cost investment firms like Betterment can at least help you start making your way up. The sooner you start contributing to an investment portfolio, the more growth you’ll see, even if you only start with what little you can afford to put aside.

Give yourself some time
Investment perhaps shouldn’t come in front of security, however. When we think of insecurity, it’s usually the future we think about. Now, more than ever, the pertinent question is where you have enough to retire. Think of the age you would like to retire. There are sites like  that can help you figure out exactly how much you need to start putting aside now to be able to meet that goal. Of course, the more years between you and that age, the better your chance of success. So, the sooner you start putting towards your retirement, the better.

Take care of your own business
Many people are concerned not just about their own future, but that of their family and their spouse. If you’re the main breadwinner, how do you make sure they’re taken care of in the event you’re not there? You can start by looking at and similar sites and start putting a plan together. Insurance isn’t just there to pay for funeral costs. It can help provide your spouse with an income, cover children’s expenses, and pay off any debt you haven’t had the chance to clear.

Free and clear
You shouldn’t be of the opinion that debt is always the enemy. It can help you make some choice investments. However, financial freedom should always be a goal. For that reason, you should never take on debt without a proper debt reduction strategy to work on as soon as possible. Similarly, if you’re earning well right now, then it’s a better idea to take a mortgage that allows you to pay off the home or car sooner rather than later. It may mean a few years of lean living, but it costs less in the long run and it frees you up later to find new investment opportunities or just live a little easier.

Essentially, the sooner you start working with your money seriously, the better a chance you can look after those you care about, retire earlier, be free of unnecessary responsibility and even have more money. There are almost no valid excuses to why you shouldn’t be budgeting some money aside every day from now on.

 photo ScreenShot2014-06-25at102225PM_zps4fdda517.png

No comments:

Post a Comment

I love reading and responding to comments but in order to get my reply you must ensure you are NOT a no-reply blogger. If you are, here are some quick steps to change that!

1. Go to the home page of your Blogger account.
2. Select the drop down beside your name on the top right corner and choose Blogger Profile.
3. Select Edit Profile at the top right.
4. Select the Show My Email Address box.
5. Hit Save Profile.

Related Posts Plugin for WordPress, Blogger...