Being a financial writer isn’t easy at all. Specially, when you’ve to deal with personal finance, you can’t expect your life to be simple. So many people with so many financial obligations! Difficult to manage indeed. Most people feel personal financial writers have an easy life as money management comes easily to them. Wrong! At the end of the day, we financial writers are also human beings who make mistakes. Yes, I accept without any hesitation, that often I fail to follow the advice that I write in my articles for others.
Made it a point to save more to eliminate my problems
Professionals are cursed to be busy always. So, it’s not possible to keep tracking every penny all the time. But being careless won’t help either. It’s a fact that I can’t keep counting my earnings and expenses all the time. So, I concentrate on saving instead. Here are some of my habits which always helped me to manage finances well:
Keep my savings safe in 401 (K) plan
401 (K) Plan is just the right thing for people like us who don’t have much time to track every penny. Every month a certain amount of money gets deducted from my salary for the retirement savings automatically. The money that I can’t see, I can’t spend either. So my retirement savings is safe!
I forget my credit cards at home intentionally
With credit cards in my wallet, it becomes difficult sometimes to control my urge for shopping. The best solution is to keep the cards safely at home. I never step out for shopping with all my credit cards stuffed into my wallet. I use hard cash to purchase what I want. This even helps me to shop within my budget. I can put a limit to my expenses by carrying cash. In this way, I don’t have to invest some extra time to calculate how much I spent.
I avoid being a compulsive buyer
I buy what I need. Thanks to my profession, everyday I encounter so many people who fail to manage finances just because of their shopping habits. Actually, my clients made me aware of this, how controlling the urge for shopping helps to balance finances. I look for discounts and buy in bulk most of the times. Even a little bit of savings makes my shopping more enjoyable.
Once in a year I go for credit check
It’s important to keep checking the credit report at regular intervals. This actually covers up for tracking expenses. When your credit score is maintained well, you can be sure that you’re going right. With the three credit reporting agencies Experian, Equifax and Transunion, it’s not that difficult to check the credit report either. I just provide all the necessary information to the credit reporting agencies and the work is done. Simple.
Despite of all these attempts, I fail sometimes to keep all the things well in place. It’s a tough job to be on the right track financially. I wish if I could follow all the advice myself that I write for others. Yes, I accept it’s not an easy task. However, we need to be more careful and optimistic in order to keep our financial future safe. This isn’t just another piece of advice, it’s an obligation that all of us should take care of.
About the Author
Savion Sage provides financial tips and advice to people looking for financial help and is regular contributor of some financial communities and reputable sites.