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4 Habits To Avoid For Financial Security

4 Habits To Avoid For Financial Security

In our world these days, money has become a debatable conversation. On one end of the world, the elites hoard money and gold bars while on the other end millions are fighting for a dollar. Therefore it has always been the largest community in the middle that’s in the fine line of falling through either end or staying stable.

Financial literacy has been a major subject for many discussions as we lack financial education in our schools, home, and work. These have led to many unforeseen circumstances for many families; the impact has been a catastrophe, which wasn’t intended. Therefore, it’s become crucial for one to understand how to protect one’s assets.

Here are a few pointers to ensure your financial stability excellence despite a terrible economy in the future.

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 1. Avoid Spending Like A Fish

You’ve heard the statement drinking like a fish; however, there are instances where one spends like a fish. We grew up watching Hollywood painting luxury and brands as affordable items for many. Therefore, the moment we start earning a sufficient income we tend to spend on Bvlgari, Prada, and Armani and we forget that even flea markets offer the best options too.

However, these forms of investment hold value only under one’s eyesight and they fail to provide any financial values. Eventually, this form of unprecedented spending leads to a bad financial status. Therefore instead of spending your money on invaluable assets, try saving and investing them in profitable and passive income generating avenues.

2. Avoid Investing in Unsolicited Investments

Well, we have all heard that investing is the best way to ensure financial security. However, an unsolicited investment such as bets and gambling can lead to a great loss. Usually, this happens in the superstitious-ness of one’s mind; being influenced by the Do’s and Don’ts of gambling or avoiding the Number 13 bets becomes the key factor when one indulges in gambling.

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However, one must also realize that not everybody can be the master of the game and the house always wins. In our world, being influenced by quick cash and fast riches has to lead to the destruction of many finances. Therefore, investments are definitely a good idea, however, there’s a fine line between investing in a share market and investing in a slot machine.

3. Avoid Putting All Your Eggs In One Basket.

You might have heard this saying, “don’t put all your eggs in one basket,” and that definitely resembles how finances should be handled too.

This concept applies to savings and investments. Therefore, instead of keeping all your money in one bank account, one might as well diversify one’s assets. Hence transforming all income into either valuable assets, bonds, savings or other currencies is an excellent idea.

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This gives you a cushion and a backup plan in case one of your finances falls through; you will definitely be able to recuperate through your other “baskets”.

4. Avoid the Term “Settling Down” Until You’re Ready

Humans are programmed with a routine; we are all taught at a very young age that the biggest priority is to follow a pattern of life. Many of us find our soul mates, get engaged, married and proceed to have children. This is where the term “settling down” comes in. Our first investment would be a car and a house under a mortgage. While many debate the importance of not having a real estate and asset investment, Guy Kawasaki mentions that taking a mortgage is what has kept half the world population in debt.

Hence, avoid the term settling down until you’re ready. You should have a surplus of passive income, which gives you the comfort and confidence of purchasing an asset or real estate without being bonded with a mortgage. Loans and Mortgages exist as a diabetic sepsis to keep the world constantly in debt.

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Hence, if you’re able to break free it gives you a great incentive for a financially stable life.

There are many ways to ensure your financial stability. These are some simply, precautionary methods to help you towards a stable, wealthier and happier life. While many say that money doesn’t buy you happiness, it certainly builds a bridge for it.

Featured photo credit: Tumblr via europedirect.lt

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Last Updated on December 10, 2019

5 Smart Reasons to Start Journal Writing Today

5 Smart Reasons to Start Journal Writing Today

Here’s the truth: your effectiveness at life is not what it could be. You’re missing out.

Each day passes by and you have nothing to prove that it even happened. Did you achieve something? Go on a date? Have an emotional breakthrough? Who knows?

But what you do know is that you don’t want to make the same mistakes that you’ve made in the past.

Our lives are full of hidden gems of knowledge and insight, and the most recent events in our lives contain the most useful gems of all. Do you know why? It’s simple, those hidden lessons are the most up to date, meaning they have the largest impact on what we’re doing right now.

But the question is, how do you get those lessons? There’s a simple way to do it, and it doesn’t involve time machines:

Journal writing.

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Improved mental clarity, the ability to see our lives in the big picture, as well as serving as a piece of evidence cataloguing every success we’ve ever had; we are provided all of the above and more by doing some journal writing.

Journal writing is a useful and flexible tool to help shed light on achieving your goals.

Here’s 5 smart reasons why you should do journal writing:

1. Journals Help You Have a Better Connection with Your Values, Emotions, and Goals

By journaling about what you believe in, why you believe it, how you feel, and what your goals are, you understand your relationships with these things better. This is because you must sort through the mental clutter and provide details on why you do what you do and feel what you feel.

Consider this:

Perhaps you’ve spent the last year or so working at a job you don’t like. It would be easy to just suck it up and keep working with your head down, going on as if it’s supposed to be normal to not like your job. Nobody else is complaining, so why should you, right?

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But a little journal writing will set things straight for you. You don’t like your job. You feel like it’s robbing you of happiness and satisfaction, and you don’t see yourself better there in the future.

The other workers? Maybe they don’t know, maybe they don’t care. But you do, you know and care enough to do something about it. And you’re capable of fixing this problem because your journal writing allows you to finally be honest with yourself about it.

2. Journals Improve Mental Clarity and Help Improve Your Focus

If there’s one thing journal writing is good for, it’s clearing the mental clutter.

How does it work? Simply, whenever you have a problem and write about it in a journal, you transfer the problem from your head to the paper. This empties the mind, allowing allocation of precious resources to problem-solving rather than problem-storing.

Let’s say you’ve been juggling several tasks at work. You’ve got data entry, testing, e-mails, problems with the boss, and so on—enough to overwhelm you—but as you start journal writing, things become clearer and easier to understand: Data entry can actually wait till Thursday; Bill kindly offered earlier to do my testing; For e-mails, I can check them now; the boss is just upset because Becky called in sick, etc.

You become better able to focus and reason your tasks out, and this is an indispensable and useful skill to have.

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3. Journals Improve Insight and Understanding

As a positive consequence of improving your mental clarity, you become more open to insights you may have missed before. As you write your notes out, you’re essentially having a dialogue with yourself. This draws out insights that you would have missed otherwise; it’s almost as if two people are working together to better understand each other. This kind of insight is only available to the person who has taken the time to connect with and understand themselves in the form of writing.

Once you’ve gotten a few entries written down, new insights can be gleaned from reading over them. What themes do you see in your life? Do you keep switching goals halfway through? Are you constantly dating the same type of people who aren’t good for you? Have you slowly but surely pushed people out of your life for fear of being hurt?

All of these questions can be answered by simply self-reflecting, but you can only discover the answers if you’ve captured them in writing. These questions are going to be tough to answer without a journal of your actions and experiences.

4. Journals Track Your Overall Development

Life happens, and it can happen fast. Sometimes we don’t take the time to stop and look around at what’s happening to us at each moment. We don’t get to see the step-by-step progress that we’re making in our own lives. So what happens? One day it’s the future, and you have no idea how you’ve gotten there.

Journal writing allows you to see how you’ve changed over time, so you can see where you did things right, and you can see where you took a misstep and fell.

The great thing about journals is that you’ll know what that misstep was, and you can make sure it doesn’t happen again—all because you made sure to log it, allowing yourself to learn from your mistakes.

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5. Journals Facilitate Personal Growth

The best thing about journal writing is that no matter what you end up writing about, it’s hard to not grow from it. You can’t just look at a past entry in which you acted shamefully and say “that was dumb, anyway!” No, we say “I will never make a dumb choice like that again!”

It’s impossible not to grow when it comes to journal writing. That’s what makes journal writing such a powerful tool, whether it’s about achieving goals, becoming a better person, or just general personal-development. No matter what you use it for, you’ll eventually see yourself growing as a person.

Kickstart Journaling

How can journaling best be of use to you? To vent your emotions? To help achieve your goals? To help clear your mind? What do you think makes journaling such a useful life skill?

Know the answer? Then it’s about time you reap the benefits of journal writing and start putting pen to paper.

Here’s what you can do to start journaling:

Featured photo credit: Jealous Weekends via unsplash.com

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