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

How to budget for household bills

How to budget for household bills

Managing your household bills can be difficult, especially when times are tough. There are however some do's and don'ts to follow which will allow you to budget effectively.
What are Certified Public Accountants?

What are Certified Public Accountants?

Certified Public Accountants (CPA) is a US qualification in accounting, very similar to the UK and European Chartered Accountant qualification. It is a measure of that person's experience and knowledge of the principles and practices of accounting. It is a requirement for many roles within US financial business areas.
A guide to PAYE wage slips

A guide to PAYE wage slips

This article will provide you with a brief guide on PAYE Wage slips for those who are unaware of them. PAYE Wage slips are probably the most common type of wage slip and this article will broaden our knowledge on them.
Annual free credit report: What to look out for

Annual free credit report: What to look out for

All Americans are entitled to a free copy of their credit report once a year. You don't get a free credit score, but you do get to check your credit report for erroneous data. It's up to you to go through the appropriate channels to get any mistakes corrected. Lenders cannot tell the difference between bad credit and bad data.