So have I. One of my New Year's gifts to myself this year is to continue reigning in my financial life; a process I started 3 years ago this April. I've been inspired by numerous sources along the way and, below, I've listed the wise advice of some of my favorite personal finance bloggers: What are your thoughts on this topic? Leave a comment and let us know!
From The Ten Most Important Things I've Learned About Money and Life Since Starting The Simple Dollar by Trent Hamm:
The willingness to accept that you’re often at fault when things go wrong is a major step towards being in control of your finances and your life. Analyzing those faults and figuring out what you can do differently so you’re not susceptible to such problems is vital.J.D. Roth at Get Rich Slowly offers his 10 Steps to Financial Success in 2010. Step #3: Review your accounts (and ask for discounts) is my favorite tip! A good place to start is with a visit to BillShrink.
Teaching your children about advertising, saving, earning and gift-giving to help you save money in the long-run is a great idea shared by Leo Babauta of Zen Habits.
Are you willing to do what it takes to reduce your spending? Ramit Sethi at I Will Teach You To Be Rich shares 30 tactical tips to help you do just that in the "Save $1,000 in 30 Days" challenge.
Jason White (Frugal Dad) reminds us that credit cards are just loans wrapped in plastic. When you go to pull out the card to purchase the newest whatever, be your own banker and ask yourself...
..."How long will it take me to repay this loan?" (a simple starting question that evaluates whether you can afford not only the purchase price but the additional cost of the interest)
..."Am I willing to suspend the purchase for 30 days?" (an effective way to limit the effects of impulse spending is to note the item on a list with the date and consider the purchase 30 days later)
...And, a question I ask myself is, "Is this worth leveraging my future?" (Sure I want this thing, and right now too, but do I want the added problems that can arise from getting it now versus saving up to buy it later?)
As you increase your awareness about your finances, I hope the wise advice of those above will help you zero in on what really matters to you and what doesn't.
Until next time...Take Care Of You!
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