“Where the determination is, the way can be found…”― The Richest Man in Babylon
What are the three things you constantly think about when you go to sleep, when you wake up, when you go to work, or even while you have a dinner out? It is not a secret that one of them has to do with money!
We all need to pay our bills, want to feel loved, and stay healthy. However, money is an essential part of a family’s wellness and is key to helping us live a more fulfilling life too.
Regardless of your current financial state, you can achieve financial freedom and design the life you deserve to live…Are you ready to take three steps to get there?
To get your financial state to where you want it to be, we are going to explore three of the following ways to help you manage your money better:
1.Pay Yourself First.
First things first, you must begin to think about paying yourself, first!
To achieve this, before you begin paying your bills and spending, put aside at least 10% of your income every month. If you are in the situation to put more, up to 20% is recommended, especially if you are beginning to save at the age of 40-50 years old. Thinking of yourself initially, by paying yourself first, is an important money management strategy that will help you to develop a savings and security for your retirement.
Once you begin to do this, you are on your way to money mastery…!
2. Organize a Budget.
Organizing a budget is an important step towards managing your money better. It will serve as a guide each month, helping you to first pay off debt and begin saving for future purchases, such as a home, car and your retirement.
To do this, you must become more aware of your financial state. For example, write down your income and the expenses you have each month. Think about whether or not you truly need to spend on those expenses. When you begin to review this mindfully, be open to revaluating your monthly spending decisions. From there you can create a budget that works for you, you and your partner, and your family.
3. Hire a Financial Planner
To help you to achieve financial freedom and take control of managing your money for good, one of the most significant factors is having support from a knowledgeable financial coach.
A financial planner will serve as a mentor who will guide you, advice and foresee pathways for you to achieve abundance.
Interested in learning more about managing your money?
ERPS Group is a one-of-a-kind financial firm located in Metro New York City that offers a differentiated approach to helping people to achieve enduring financial results. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.