How to Sustain Financial Flexibility Moving Forward


Money should never be the objective of your life. It should only be an instrument to help you achieve your dreams. But with that in mind, you should never be careless with your finances in order to maintain your success and flexibility in the future.

Preparing a budget is a time and tested solution to any financial woes. It helps you gauge if you are spending more than what you are earning. Through this you will also determine if you are saving enough for your goals, both short term and long term.

The safety of an emergency fund

No one wants an emergency situation. But it happens in life. An emergency fund helps you stay afloat should an unforeseeable event pops up such as job loss, death in the family, natural calamity and the likes.

This fund will serve as a safety net for these situations. This should be equivalent to at least three to five months worth of your salary. The best-case scenario is that you never have to use this fund at all. But it pays to be prepared.

Tracking your finances

When you blindly spend your money and don’t even read your billing statements (especially credit cards), you run the risk of getting blindsided with your finances. Keep tabs of your spending routine.

Maybe there are some purchases that count as luxuries and not as necessities. If you become more practical in your approach, you may just be able to save a significant amount.

And always remember, any amount will still not count as savings unless it is safe in a savings account.

Manage your credit card usage

A credit card is not necessarily a good or bad thing. It all depends on who is using it. If it can be used on all purchases and paid promptly on time every month, you can reap various points and rewards for its usage. With the emergence of technology, a credit card is also very useful for digital transactions.

But if you don’t have enough finances to pay off your credit card bill, you will probably end up stuck in debt with continuous finance charges and interest rates.

Simply be honest about your situation if you can manage your credit card. The rule of thumb is that if you don’t have finances devoted for your credit bill, don’t keep on swiping your plastic card for transactions.

The importance of goals

A goal in mind helps set a vision for your future. This is true for finances as well. If you wish to set up financial goals, make sure these are realistic and attainable so that you will have more motivation to work hard for these.

Don’t forget to invest in yourself as well. You’re working hard and it’s only right to devote your hard earned pay for your recreation and relaxation. Also at the end of every day, it should be your objective as well to save a fraction of your earnings for your retirement.

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Money Management Tips


Proper money management goes a long way in improving your lifestyle. If you manage your money seriously, you can save plenty over the next few years. The following tips will help you secure your future, ensuring you can brave through or completely avoid tough times.

Cut Down your Vices

You might not have noticed, but a significant amount of your money is wasted on consumer items such as alcohol, cigarettes and fast food. It might not trouble you initially, but when these expenses start to accumulate, it will negatively impact your budget. You need to take serious steps to curb these habits, especially if their costs have already accumulated to large amounts.


Skyrocketing inflation and static wages has made it tough for people living on a single source of income. The problem is that they are not used to investing, because you are taught to earn a good job and live a happy life from a young age. This is not the case anymore.

Frequent job-cuts have made many people to change their mind and invest. As such, choosing to invest and creates a second source of income, saving you from a possible financial crisis.

Save First and Spend Later

One of the best ways to remain financially stable is to save before you spend. Set a percentage of your salary aside as savings and deposit it in your bank account, spending whatever is left. Unfortunately, many people do the complete opposite, which eventually leads to financial instability.

Keep an eye on unnecessary expenses and try to keep them under control. As such, make a budget and only spend what is left after saving.

Draw a Line between your Needs and Wants

Unfortunately, this is where most people struggle. They do not differentiate between needs and wants. They go on a shopping spree and buy items they do not really need, thereby unknowingly straining their monthly budget.

Stay away from expensive luxuries if your budget does not allow you to indulge in them. Think wisely before you buy anything and always ask yourself if you really need the item or not.

Do it Yourself

If you do not know how to do things yourself, head over to YouTube or Google it. Not only does this save money, it helps you learn new things.