6 Best Ways to Succeed In your own Personal Finance

Hey everyone!

I’ve learned a thing or two during my own personal finance journey. And having the right money management skills has been key to making sure that I continue to prosper and be successful financially in the long run.

Fortunately, I’ve got the intel on what works and what doesn’t, so you can make some smart choices and set yourself up to succeed in your own personal finance journey.

So sit back, relax and read on for the best ways to make sure that your pocket stays well lined up.

Check out my top 6 tips below!

Make a plan – know what your goals are and what you need to do to reach them.

Before you go chasing after your financial dreams and goals, you gotta have a plan.

I don’t mean like a financial planner type plan – that’s totally optional! What I’m talking about is the kind of planning where you know exactly what financial goals you have in life and what it’ll take to make them happen.

Think about things like saving for retirement, putting money towards homeownership, or investing for financial freedom.

What are your goals? Do you have a date you want to achieve the goal by? How much money do you need?

Once you have your goals laid out, you can make a plan to achieve them!

That way, when an opportunity or challenge pops up on your financial journey, you’ll be prepared to make the best decision without much stress or worry.

So as I always say: Get a plan, girl!

Stay disciplined – don’t spend money just because you have it.

if you wanna make sure your finances are top-notch, I recommend following the 50-30-20 rule.

50% for needs, 30% for wants, 20% for savings!

Don’t let your hard earned cash slip away just because you have it – be disciplined and stick to what’s in your budget.

Nothing feels worse than having nothing left and no way to get back on track after spending a bit too much on something extra.

So keep those bank accounts and wallets happy and remember 50-30-20!

Invest in yourself – save up for things that will improve your life or help you reach your goals in order to succeed in your own personal finance

If you’re not familiar with financial goals, let me explain….

Saving up for something that will improve your life or help you reach your goals is basically investing in yourself.

It’s a kind of financial venture where you put some money away so that you can chase after your dreams!

That could mean taking some higher education classes and courses to help get a better job, or investing in an opportunity that will bring in financial rewards down the line.

Education is important more than ever, and taking the right financial courses can make all the difference!

Believe me it’s not just an idea inspired by a movie – if properly done, it could be the best financial decision you ever make!

Be sure whatever it is…. it helps you to succeed in your own personal finance and that it will bring positive change to your life.

Be patient – good things come to those who wait.

In life, it’s easy to get caught up in the hustle and bustle of chasing success or becoming financially free.

But being a savvy, financially independent person means understanding the power of patience – good things come to those who wait!

Not sure who said it first but, ‘Life is short and you gotta take your time.’

So take it from me: no matter how ambitious your goals may be, always remember that sometimes the most rewarding accomplishments involve testing your patience – because good things do come to those who wait!

I recently learned this lesson first hand. Despite wanting to be financially free as soon as possible, I quickly realized that this dream didn’t happen overnight.

I had to remain patient and trust the process!

It was difficult at times but slowly and steadily, I put myself in a far better financial position than when I began.

That’s why having patience is key because patience truly can lead you to greater financial freedom.

Live below your means – don’t try to keep up with the Joneses…they’re probably in debt anyway.

I’m sure you’ve heard the old adage to save money and live below your means!

You know it’s easier said than done right? Especially when it feels like everyone around you is living beyond theirs.

Well, maybe they’re not, they could easily be drowning in debt trying to keep up with the Joneses. Instead of worrying too much about societal pressures or the weight of comparison, lower your debt and increase your savings wherever possible.

Would you believe it – even the Joneses aren’t as well off as they seem!

Turns out, the old saying is true – don’t try to keep up with them because even their bank account can’t handle it!

So that’s why I think frugality is the way to go – not only are you saving money but also avoiding debt.

So take my advice and, ya know, don’t worry so much about what the Joneses have going on.

After all, the Joneses aren’t helping you succeed in your own personal finance and that money might come in handy sooner rather than later😉

Budget, Pay off Debt and have an emergency fund – because life happens and shit gets real sometimes.

Whenever life takes an unexpected turn, it’s important to be prepared.

Having a budget and paying off debt should top your list of priorities.

A budget makes it so much easier to keep track of where your money is going each month and make sure that your bills get paid without fail.

When you pay off all your current debt, you’ll feel like you truly created financial freedom for yourself.

Plus, having an emergency fund is like your secret superpower against anything life throws at you. It can bring unimaginable peace of mind when things don’t go as planned.

An emergency fund helps you weather any storm that comes, whether it’s an unexpected medical bill or something unexpected with the car.

Just remember: whatever happens, don’t panic!

When your debt is payed off and you have a little cushion to fall back on…you will have that little bit of breathing room and motivation that will truly make you succeed in your own personal finance journey.

Financial planning can feel overwhelming but if we just work on the basics, it makes everything easier!

It’s easy to be tempted to only focus on one of those steps, but all of them are important to succeed with your personal finance

Financial independence may take some time but the journey is worth it when life throws curveballs at us.

It’s time to get your financial life in order and there’s no better place to start than by following the tips in this blog post and more at FreedAmbitions.com

If you can make a plan, be disciplined with your spending, invest in yourself, and be patient when waiting for results, you’ll be on your way to success. And don’t forget – always have an emergency fund because life happens!

Success in personal finance is different for everyone….

For some, it means never having to worry about money again. For others, it’s being debt-free and building up a nest egg for retirement. No matter what your definition of financial success is, there are some universal truths that can help you get there. 

So what does succeeding with your personal finance look like to you? What do you struggle with?

Let me know in the comments below!