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

All about: Account reconciliation

All about: Account reconciliation

Account reconciliation practices have come into question over the last decade due to corrupt practices that have caused the collapse of major multi-national firms. This article briefly explains what account reconciliation is and how accountants do it within organisations.
How to get financial aid for single mothers in the UK

How to get financial aid for single mothers in the UK

Being a single mother can really be stressful, especially when you are the breadwinner. There are a lot of financial responsibilities which you need to take care of when you are a single mother. Sometimes, it can also be very difficult for single mothers to get a decent job because they may not have the finances or time to study. The federal and state governments have therefore come up with different programs to help single women financially.
A guide to term deposits

A guide to term deposits

This article briefly describes what a term deposit is, its advantages and disadvantages. This low-risk, moderate return investment vehicle can also act as a savings toll and a source of income for the patient investor. This article provides you with a guide to term deposits.
Tips on succession planning for family owned businesses

Tips on succession planning for family owned businesses

Succession planning is one of the most difficult processes in business whether they are small enterprises or multinational corporations and this becomes even more difficult in the case of a family owned business. This following article gives some pointers that can apply in family owned firms.