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7 Things I’m Doing Right Now To Improve My Financial Situation

7 Things I’m Doing Right Now To Improve My Financial Situation

    Just like most folks, I don’t consider my financial situation perfect. I have some debt that I need to pay off and some goals I want to achieve. Moving forward on financial matters can seem so difficult. Saying that ‘I want to get out of debt’ is general — there’s no clear starting point. And that’s just the minor stuff: figuring out taxes can make you wish we all still relied on barter. But setting your financial house in order isn’t impossible. You just need a starting point.

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    These steps are my starting points. Not just any starting points, either: these are my ‘back to basics,’ ‘work on when I have no idea what else to do,’ ‘got to keep with it’ tasks.

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    1. I set goals. My financial goals are very set things, though. They have dollar amounts and due dates, no matter what. After all, my finances are all about numbers. It just makes sense that my financial goals are the same way. I consider something along the lines of ‘I will save $500 by the end of this month for my emergency fund.’ I also think it’s crucial to know from the start what your money is for. Saving for shoes or for getting laid off is easy, but just saving is hard.
    2. I read. I know I don’t know everything there is to know about personal finance. I’m working on correcting that, though. Right now, I’m reading up on stocks — a subject that was not even mentioned during the one semester of financial literacy education my high school provided. Because I’m well aware of the deficiencies of my official personal finance education, I read a lot. I want to know all about different ideas, even if I don’t agree with them.
    3. I take my time. When it comes to a financial decision, including spending relatively large sums of money, I wait. While I might have an instinctive reaction (often along the lines of ‘Buy it! Buy it!’), I’ve found that I save a lot of money by just deciding to come back later. The same holds true on other financial decisions. Before I chose a bank, I take some time and do some research.
    4. I put my money out of reach. I’m lucky — I don’t have a problem resisting the urge to use my credit card. But if I have cash in my pocket, I always have a burning desire to spread the wealth around. I try to head this urge off: I don’t carry much cash. I’ve gone a step beyond that, though. Most of my savings is in an account that, while I can get my money in an emergency, I do have to jump through some hoops to make a withdrawal. Having to go through a few extra steps when I want cash makes me reluctant to spend money when I don’t actually need to.
    5. I improve my income. Passive income is the best thing since sliced bread. Whenever I get the opportunity to set up a passive income stream — even if it’s just a static website with Google AdSense — I do what I can to take full advantage of it. I do what I can to improve my other sources of income, as well. I negotiate for higher pay, take on side projects and generally do whatever I can to increase the amount of money I have coming in.
    6. I run a business. It seems like having a business would be more effort and expense than it would be worth, financially speaking. But you can effectively run a business for free, and it offers several advantages. Consider your ‘business expenses.’ If you run a blog or other computer-based business, that computer you just bought could be tax deductible. You just lowered your tax bill by making a purchase that you probably would anyway.
    7. I do things myself. Some instances of frugality, like making your own soap, may not improve your financial situation. It may not be worth your time to do some things yourself. But I’ve found several things to do myself that have saved me money, liking baking my own bread. Even better, if I’m doing some task I’d normally pay someone else to do, in addition to saving that fee I’m not out spending money on entertainment. Sure, it may not be cheaper for me to grow my own tomatoes, but when I’m gardening, I’m spending only a fraction of what I would at the movie theater.

    There are lots of little things that we can do to tidy up our respective financial situations. It’s important to remember that it’s not an all or nothing proposition you can make progress on your financial goals without committing to complete frugality, massive saving and working every hour in the day. That sort of approach will probably only last you a few days before you break down. But if you work on just a small task or two at a time, you can make a lasting change in your approach to personal finance. Even doing something as simple as eating one extra meal at home each week can make a profound difference in your bank balance.

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    None of the steps I’ve listed before need to be hardcore processes. Even running a business can be something as simple as selling your old stuff on eBay. Each of these steps can be as small — or as big — of a commitment as you would like. Personally, though, I go for the light workload.

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    Last Updated on October 14, 2020

    How to Become an Early Riser and Stay Energetic

    How to Become an Early Riser and Stay Energetic

    When you become an early riser, you’ll experience a lot of benefits, including feeling more energized and having more time to do what you want.

    If you’d like to join the ranks of those waking up with the sun, there are some things you should know before you run off to set your alarm.

    What exactly do you need to do to learn how to become an early riser?

    Here are 5 tips I’ve discovered to be most helpful in making the transition from erratic sleeper or night owl to early morning wizard.

    1. Choose to Get up Before You Go to Sleep

    You’re not very good at making decisions when you’ve just woken up. You were in the middle of a dream in which [insert celebrity crush of choice here] is serving you breakfast in bed, only to be rudely awakened by the harsh tones of your alarm clock.

    You’re frustrated, confused, and surprised. This is not the time to be making decisions about whether or not you should stay in bed! And yet, most of us leave the first decision of our day to be made in a blur of partial wakefulness.

    No more!

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    If you want to learn how to be an early riser, try making your decision to rise at a specific time before you go to sleep the night before. This frees you from making the decision in the morning when you’ve just woken up. Instead of making a decision, you only have to follow through on your decision from the night before.

    Easier said than done? Of course. But only for the first few times. Eventually, your need for raw willpower to get out of bed will diminish, and you’ll be the proud parent of a new habit!

    Steve Pavlina suggests you practice getting out of bed during the day[1] to get a few of the “practice sessions” out of the way without the early morning fog in your head.

    2. Have a Plan for Your Extra Time

    Let’s say you’ve actually made it out of bed 2 hours before you normally would. Now what? What are you going to do with all this time you’ve discovered in your day?

    If you don’t have something planned to do with your extra time, you risk falling for the temptation of a “morning nap” that wipes out all the work you put into getting up.

    To become an early riser, plan a great morning routine.

      Before you fall asleep, make a quick note of what you’d like to get done during your extra hours the following day. You could read a book, clean the garage, or write up that work report you’ve been putting off. Make a plan for when you wake up earlier, and you’ll do more than protect yourself from backsliding into bed.

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      You’ll get things done, and those results will fuel your desire to build rising early into a habit!

      3. Make Rising Early a Social Activity

      Your internet or social media buddies just don’t have enough pull to make your new habit stick in the long term. The same cannot be said for the people you spend time with as part of your early morning routine.

      Sure, you could choose to read blogs for two hours every morning, but wouldn’t it be great to join an early breakfast club, running group, or play chess in the park at 5am?

      The more people you get involved in making your new habit a daily part of your life, the easier it’ll be to succeed.

      Consider finding an accountability partner who is also interested in becoming an early riser. Perhaps it’s a neighbor who you plan to go for a run with at 6 am. Or it could be your husband or wife, and you decide to get up earlier to spend more time together before the kids wake up.

      Learn more about finding the perfect accountability partner in this article.

      4. Don’t Use an Alarm That Makes You Angry

      If we’re all wired differently, why do we all insist on torturing ourselves with the same sort of alarm each morning?

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      I spent years trying to wake up before my alarm went off so I wouldn’t have to hear it. I got pretty good, too. Then, I started using a cellphone as my alarm clock and quickly realized that different ring tones irritated me less but worked just as well to wake me up. I now use the ringtone alarm as a back-up for my bedside lamp, which I’ve plugged in to a timer.

      When the bright light doesn’t work, the cellphone picks up the slack, and I wake up on time. The lesson learned? Experiment a bit and see what works best for you as you try to become an early riser.

      Light, sound, smells, temperature, or even some contraption that dumps water on you might be more pleasant than your old alarm clock. Give something new a try!

      One final thing you can do is put your alarm at least several feet from your bed. If it’s within arm’s reach, you’ll be tempted to hit the snooze button. However, if you have to get out of bed to turn it off, you’ll be more likely to resist going back to sleep.

      5. Get Your Blood Flowing Right After Waking

      If you don’t have a neighbor you can pick fights with at 5 am, you’ll have to settle with a more mundane exercise. It doesn’t take much to get your blood flowing and chase the sleep from your head.

      Just pick something you don’t mind doing and go through the motions until your heart rate is up. Jumping rope, push-ups, crunches, or a few minutes of yoga are typically enough to do the trick. Here are 10 Simple Morning Exercises That Will Make You Feel Great All Day. (Just don’t do anything your doctor hasn’t approved.)

      If you’re going to go for a full-on morning workout, remember to give your body at least 15 minutes to get moving before you start[2]. Have a glass of water, stretch a bit, and then get into your workout.

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      If you live in a beautiful part of the world like me, you might want to use a bit of your early morning to go for a walk and enjoy the beauty of the world around you.

      If you have a coffee shop open within walking distance, dragging yourself out of bed for a cup of coffee to savor on your walk home as the world wakes around you is a wonderful experience. Try it, and you’ll enjoy becoming an early riser!

      Final Thoughts

      Creating a new habit is always a challenge, especially if that habit is forcing you out of the comfort of your bed before the sun is even up. However, early risers enjoy increased productivity, higher levels of concentration, and even healthier eating habits[3]!

      Those are all great reasons to give it a try and get up a few minutes earlier. Try getting to bed a bit earlier and learn how to become an early riser with the above tips and conquer your days.

      More on How to Become an Early Riser

      Featured photo credit: Nomadic Julien via unsplash.com

      Reference

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