Your future may well be one of these two: you are a beloved self-sufficient member of the family or a beloved financial burden to the family. To avoid the latter do these few things this year
Keep diligent track of your spending.
You need to start understanding what it means to be financially responsible. You will not get to a point where you are financially well of if you do not learn about money. You do not have to earn a degree but you could start by keeping a notebook in your pocket and writing down every expense you have. This process will offer a lot of insight for you as to where your spending is going to and where it should not.
This seemingly simple process will make you think twice about unnecessary expenses. When you do have a month’s worth of expenses written down, take a careful look at them. Ask yourself whether or not each of these expenses actually contributed to the value and joy of your life.
Look carefully at your routines.
History does not repeat itself but life does tend to fall into a routine and look awfully familiar so if you do not pay attention to the goings on around you and recognize the landscape you will get lost. Learn to recognize the ups and the downs and watch what you do every day (or most days).
Are there things you do each day that cost money? Those are the things that if you do not look out for will get difficult to weed out; the take away breakfast daily order or the buffet traditional lunch.
Look at all the regular expenses you have and put a stop to the unnecessary.
Get to know your bank.
Get to know your bank and switch if your bank does not value you and your money. Switch to a bank that is proactive and engages with you by offering solutions, alternatives and saving you time and money.
The vast majority of people are with banks that don’t treat them very well. No interest earned or minuscule amounts of interest on accounts, fees upon monthly fees of all kinds. Many are things which are a waste of your money!
Get to know your bank and see if they are interested in growing your money or just interested in charging you more money to keep your money.
Start Saving Now!
Do you really use the gym enough, or could you just run every morning before you go to work? Do you really need to buy another cell phone, another pair of shoes or another suit? Go through each bill and see if any one thing is an “optional” for your lifestyle. If so, then you must eliminate them.
Eliminating any and all seemingly innocent expenditures which chip away at your purchasing power and a life with very few luxuries and only the must have (for work) may seem like a punishment now but, living with your children at retirement is the real punishment (for you: even if the children love you and the grand children adore you)!
Start thinking about your future well-being now!