Some will say follow the 70/20/10 rule when sharing your income.

Others will say, No, you’d better apply the 50/20/30 rule.

See, the rules you apply to your earnings are not what I am here to talk about. Rather, I want to walk you through the fundamental tips that can make all the difference to your finances in this new year.

Does this sound like something you are willing to spend the next 6 minutes of your time reading? 

Let’s cut right into the chase if that is the case.

[ PS: Have you learned about these trusted attorneys who know how to prevent garnishment of wages just yet? ]


This may sound too basic for your liking. But honestly, you must be the master of thyself if you are to achieve any worthwhile in your finance management. Do not use your credit card unless it is absolutely necessary. Do not take additional debt unless it is for a worthy cause.

Keep yourself free with an emergency fund

It’s best for you to take a portion of your earnings and stash it in your emergency fund regularly. This gives you an advantage whenever you have unforeseen situations that need to be tidied with cash. . If want Mortgage, we recommend to have a peek at this web-site

Live below your means

It is easy to quickly want to upgrade your lifestyle as soon as your earnings increase. Please, avoid the urge to do so. It’s the fast lane to financial ruin. Live below your means until you no longer have to trade your time for money!

Better start having plans for retirement

When do you intend to retire? For how long do you want to work on things you’re not passionate about all in the name of making money? These are hard questions to ask yourself. Also, how much money do you want to have before retiring?

What do you know about personal finances?

Read about personal finances, buy books, read blogs, take courses, or schedule appointments with trustworthy financial planners to know more about this topic

Create a realistic financial plan

Yes! You must  have a plan. “If You Fail to Plan, You Are Planning to Fail”, says Benjamin Franklin. Nonetheless, your plan must be realistic for it to be effective. Otherwise, you won’t see it through. 

Guard your savings

You can do this by investing with a reputable firm whose risk appetite matches your own.  You may also consider target savings. The upside of this fund is you can’t dip into your money until the final day you chose to cash out.

By Manali

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