By continuing your visit to this site, you accept the use of cookies. They ensure the proper functioning of our services, analytics tools and display of relevant ads. Learn more about cookies and control them

Not yet registered? Create a OverBlog!

Create my blog

How to make smart financial moves

The ability to make smart financial moves and decisions is vital for your success in both your personal and professional life. Thus, you must constantly hone and fine tune your personal finance skills in order to be successful. The following are tips on how people can be smart movers when it comes finances.

Improve your financial literacy

Financial literacy is crucial. Unfortunately, financial literacy isn't taught at school. Skills like effective budgeting and careful financial planning are usually alien even to highly educated college graduates. Hence, it is necessary that you work hard on improving your financial literacy. Some of the simple ways on how you can improve your financial literacy include reading personal finance books, attending personal finance seminars and having a personal finance expert to mentor you.

Learn how to delay gratification

Learning how to delay gratification is also essential in making smart financial moves. Delaying gratification means prioritising certain things over others. Delaying gratification requires a lot of discipline and consistency. Nevertheless, you're good once you become accustomed to the habit of delaying gratification. Similarly, you should also forget about the saying "keeping up with the Joneses" - the Joneses usually overspend and will eventually be bankrupt. You should also determine your personal needs and separate it from your wants and other luxuries. You should first invest in a living property like a home or an apartment before buying luxuries.

Don't spend money that you don't have

Overspending is often the root of most people's financial troubles. Basic personal finance principles teach people to live below one's means and to spend money not exceeding one's total monthly cash flow (minus taxes and savings). While the proper use of credit can reap financial dividends, most people are ineffective when it comes to using their credit cards and their credit lines. Thus, it is better to avoid credit as much as possible.

Discover new skills, expand your expertise

Discovering new skills and expanding your expertise is a smart move, not just for your career and finances, but also in your personal life choices. Learning a little about everything can provide you with countless of opportunities for career growth and can yield you greater financial rewards. Taking short courses or additional units in a different field can be fun, challenging and rewarding.

Same category articles Accounting

What should be included on a household budget template

What should be included on a household budget template

Do you create a family budget? Have you ever wondered of what happened to the money that seemed to go faster than it came? What you need is a budget and all that it takes are some expenses spreadsheet templates to get you going. Or, you can create a spreadsheet (Excel) budget yourself. Continue reading to learn how best it is to budget your money.
How to use investment calculators

How to use investment calculators

Investment means putting money into a business or other investment vehicles such the stock market, money market, property market, savings account and retirement annuity, which is secure for a period of time in order to generate more income. Investment vehicles which maximise gains and generate more income are easily determined and compared through the use of investment calculators.
What are the top accounting firms?

What are the top accounting firms?

This article briefly describes the top accounting firms in the world. Their ranking relies on the revenues that they generated in 2010 and the size of their workforce. Other details such as formation through mergers and foundation date are also available.
What is equity in a business venture?

What is equity in a business venture?

Equity finance is increasing business share capital in return for sharing ownership and control of your business with interested investors. Equity financing enables the business to operate with enough capital and does not have to get additional debt from elsewhere. With equity financing, the investors can even provide additional funding if the need be, they want to see the business grow.