As June comes to an end, we have made it through the first 6 months of the year. It’s been a tough year for many. Retrenchments have become an ever-looming reality for thousands of people.
As individuals, we are not able to fight the poverty giant or take on the nations unemployment rate, but we can build our own financial independence. By making the decision to control your own finances, rather than letting your finances control you – you can take charge of your life, and enjoy the freedom to live, rather than survive.
We have identified 5 tips to create your own financial independence for the remainder of the year:
1 – Set Realistic Financial Goals: have a vision of what you would like to achieve and align it with your current financial status. Give yourself time to achieve your goals, and don’t be afraid to get some financial advice in order to get there.
2 – Don’t Over-Spend: This seems fairly obvious, but as our demand for goods and service increases, so does the necessity to spend. Make a point of spending less than you earn and fight debt where possible.
3 – Identify “The Necessities” in Your Life: By understanding what you need in order to live, love and be happy, you are able to evaluate your current spending and lifestyle choices so that you don’t give in to peer pressure.
4 – Always Know Exactly Where You Are: Set a monthly financial planning meeting with yourself. If you don’t know where you are, it is impossible to get to where you want to be.
5 – Follow Our 31-Day Challenge to get into the habit of budgeting, and evaluating your income and expenses, so that you can start to take control of your finances. Click here for more information or download our template.