Being financially independent is part of a healthy relationship. Don’t rely on your partner to build wealth for you, make your own way with these top tips.
Ladies, how many of you are financially independent? Are you ready to be?
Most of us dream of being financially free. Imagine it, being able to do what you want, when you want.
That trip to Bora Bora you’ve always wanted to take? You could do it.
That Alaskan cruise under the northern lights? You could set sail.
The road to financial independence is tough, but ladies, if there’s one thing you definitely are, it’s tough. You just need someone to help you get started.
With that being said, we’ve got some secrets that you’ll need to get on the road to financial freedom. Let’s get started.
Open More Than One Bank Account
Opening multiple bank accounts can help you keep better track of your spending.
Consider opening a special account just for your bills. This will keep you from accidentally spending your electric bill on a new pair of shoes.
Always keep a minimum amount of money in this account, whether it’s $100 or $1,000. Keeping a small amount in your account ensures that you won’t overdraft on any bills if they are higher than normal one month.
Set up automatic bill pay with this account. This will make sure that you are never let on any bill and help you avoid those pesky late fees. Some companies, such as phone or internet, will actually lower your overall bill amount if you set up reoccurring payments.
Maintain Good Credit
Having a good credit score helps you out in a lot of different ways.
You’ll be able to apply for lower interest rates, apartments with lower rent, and avoid low credit security deposits in several cases. For example, many electric companies require credit checks. If your credit is too low, they may ask you to pay a one-time security fee.
Learn How to Invest
Set up an investing account. Learning to invest can change your life if you’re good at it.
There are more investment opportunities than simple stocks. You can trade in the foreign exchange (forex), learn futures and options investing, and more. Also, there are services that would guide and assist you in investing. The number can be quite overwhelming but you can start by reading recommendations online such as blogs about Rule Breakers review or newsletters from investing sites.
To do this, you’ll need to have an account with a good trading platform. Do your research and find the best trading platform for options, futures, and forex before getting started.
Watch lots of youtube videos and remember to practice with demo accounts, not your real account.
Always Have a Financial Goal in Mind
The last tip is to always have a financial goal in mind. Even if you’ve saved for your initial trip or monetary needs, you’ll want to give yourself a new goal.
Continuing to keep a goal in mind will always give you something to shoot for, and watching your money grow can easily become addicting.
Secrets of the Financially Independent
Small changes yield big results. You don’t have to be a millionaire to take control of your money. You just need some good goals and practice some organizational skills. In no time, you’ll find yourself building an ever-growing savings account.
Just remember not to spend it all at once. Blowing your new savings account is a sure fire way to fall right back into the debt loop.
Keep your money, click here to learn about some common money management mistakes so you’ll stay financially independent.
A professional writer with over a decade of incessant writing skills. Her topics of interest and expertise range from health, nutrition and psychology.