Golden Rules to Financial Success

Financial independence is always within your reach.
Financial independence is always within your reach.

Financial Success

Attaining financial independence and success is a very long journey. What’s more, you’ll be meeting many road blocks and hassles along the way. Keep abide to these golden rules, it’ll help you stay consistent and work yourself towards your goal.

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Learn habits of success

Positive habits are what makes successful people stand out. Habitual actions later becomes part of you. It can define whether you are capable to succeed.

Rule # 1: Income - Savings = Expense

What most people do not realize is that savings itself is part of the expenses. It is the expense that buys your future. This is why it is always a must to pay yourself first. Savings should amount to the fraction of the expenses, not what’s left from it. The ideal share of savings is about 20%. This will leave a whole lot of 80% for expenses, an amount already enough to suit your needs.

Improper budget allocation is what hinders most in attaining financial independence. This is because most tend to spend more on rather optional expense. This primarily includes the budget for recreational purposes. Recreation is deemed necessary for being healthy. Thing is the costs must be reasonably fit. Try to cut down on some aspects of your budget. See what can be reasonably minimized to tend to other needs.

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Master the 3Ds: Discipline, Determination, Decisiveness.

This will help you work on while staying consistent to your goals.

Rule # 2: Have definite goals

Having a definite aim is not only for the purpose of keeping it. It has many psychological benefits that would be best for you to have. The mechanism is almost the same as that of going home from work. You do not recall the way; it automatically comes to you. This is because you do it every day. When you saturate your mind with your definite aim, you subconsciously influence your actions toward the fulfillment of the goal. You may not observe this yourself, but your actions are always a reflection of your dominant thought. It is always in harmony with your subconscious.

Thought is what makes the human mind so powerful. It grants you freedom yet it can control what you do. This is why it is important to have a definite chief aim. Fill your thoughts with your goal, because when you do, you will eventually focus, find ways, and move towards it.

Financial independence however does not start with just defining your goals. In the end you’ll be able to do nothing unless you stay consistent with it. This is why at many points in your life you must learn to say “No.” Always be realistic. If an event cannot be reasonably feasible to your budget, you must decline. Always take note that future financial independence is a direct result of sticking to your budget today. You'll encounter times in which you’ll be stressed out in saving money. At times like this remember your goal. Take a break, you’ll handle.

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Be wise

Remember that making the most out of every little thing helps.

Make the most out of it.
Make the most out of it.

Rule #3: Optimize available resources

In life you’ll always find yourself with limited resources. That’s why it’s best to always make the most out of what you’ve got. Take advantage of discount coupons and free resources, they are always your best friends. Free budget planners could always help provide an overview of your budget, allowing you to track your spending trends. Some can even remind you of bill deadlines to avoid overdue costs.

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Imagination and enthusiasm

Stimulate your mind with new ideas and try to create something new. New knowledge is the foundation of imagination, which also brings about enthusiasm. The two work together to stimulate motivation. Motivation is the most powerful force that will fuel you to move towards your goals.

Rule # 4: Never stop learning

Having a decent background is always critical to financial success, yet it isn’t often enough. There’ll always be things that you do not know yet is important for you to know. Knowledge brings about opportunity. And for this reason you need to constantly improve your knowledge pool. There are many resources available. All you’ve got to do is to engage. Read about personal money management, personal accounting, financial economics, and even success stories. This will not only help enlighten you about investment opportunities but also inspire you in reaching your definite goals.

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Profit by failure

Knowing the difference between "failure" and "temporary defeat" can eventually bring about success or totally hinder you from attaining it.

Rule # 5: Know when to take a break

Financial success is actually just the matter making the right choices. No matter how awkward it is, you should just push on. And at times when things don’t go your way, take a break. That’s really all there is to it.

Financial independence and success is the result of several successful short term goals that converge to a single final end. Remember to push on if you can push on, because as long as you continue, it would definitely come true.

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Comments 2 comments

Brandon Spaulding profile image

Brandon Spaulding 5 years ago from Yahoo, Contributor

I like the idea of earning enough to save first and then use the rest of your pay to cover other expenses. That's the right way to look at earnings.

cepheid profile image

cepheid 5 years ago from Estonia Author

yeah, and it's a surprisingly somewhat easy way to save. Thanks bro,

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