Are you still up for your new year’s resolution? Or are you getting back on your old habits?
It is still the first week of the new decade and we have more time to get pushing on your resolutions.
Most of us are hopeful that the next years will be more fruitful (or less stressful) than last year’s. The resolutions we focused on are about family, health, relationships, and career. These are all important. However, this decade, I would also like to add one to your list, financial growth!
Here are some resolutions that could help you succeed financially not only in 2020 but in the next decades as well!
No More Credit Card
Wait! Don’t go! I know some of you may not continue reading as this could be very hard. Some are already hesitant and are about to exit reading. I know this is a bit hard but it will be worth it! Trust me I know, I have been here. So keep reading.
Having a credit card could lead to a temptation to buy new things that are not necessary. As mentioned in my previous post, Wants Vs. Needs, I think before I buy. I think you should do too!
But if we would ask me in the last decade, I was a mess!
In 2009, I had two credit cards and I was really happy initially because I got a good credit limit.
I could buy anything and go anywhere I want. But this sudden happiness had its price. I can’t hardly pay any of them. The monthly dues were piling up and taking a big chunk from my salary.
So what did I do?
It was still embarrassing but I had to make another loan to get rid of the two of them. And I didn’t use the cards since then. I cut them into pieces then threw each piece in different trash bins so no one can put them all together.
And that was 2013.
I have finished off my debt at the end of 2015. I called it “my debt-free birthday!”
Now, I am 5 years sober from debt! It was so liberating the moment I paid my last due! I now only have a Debit Card. I ensure I have enough money before purchasing anything else.
Pay Yourself First
As we grow older, the due date has been the scariest date we could ever have each month. This could take a huge percentage of our income and ended up nothing to spare on your own. But from this year, I encourage you to pay yourself first.
I am not talking about treating yourself with a nice lunch or have a day in a spa to pamper yourself. No. This is literally paying yourself.
Set aside at least 10% of your money for your retirement or your saving. If you could give 20%, why not? You deserve it! Then pay the monthly dues after.
Some of you may be cringing now because of the high bills. And this is not enough to set aside for yourself.
Well, your mind could be creative. You can think of ways how to pay your debts even more.
I would assume you have things that you no longer need from your credit card purchases. Since you are trying to get rid of your credit card, you could also make money from it.
Sell your old stuff and the money that you could earn from this is, either to pay you or to lessen the debt. It is all up to you.
This is a win-win situation. You have earned money then you have learned how to become a disciplined purchaser.
Give, so you could Receive
Do unto others what you want others do unto you, The ripple effect, Sharing is Caring – I do believe in these saying. For you to receive, first, you got to give.
Aside from paying myself, I set aside for others too. This has been my habit since I finished my loan in 2015. I made a promise that once I finished my debts, I will give something in return. Since then, I have been supporting charities for the youth and elderly and it has been a fulfilling life ever since.
No money? no problem! If you are still getting rid of your credit card debts, you can offer your time. Giving is not only about money. It is also offering your services to them. Be part of the community. Make sure to give an act of good deed to anyone without asking anything in return.
Venture to Stock Market
There is one word to define the Stock Market – Scary!
I have been earning now, no more debts, have some savings but I would never lose it all in the stock market.
I heard a lot of people lose their savings in stocks and it was very frustrating that you need to start over again.
Luckily, someone had invited me to join the Truly Rich Club founded by Bro. Bo Sanchez. Here, he generously shares the strategies he mastered in Stock Market Investing and equips you to apply them wisely. Now, I finally know how to be a calm investor.
Honestly, I couldn’t believe it when I saw for myself how my investments grew! This has been a true blessing for me.
So I want to pay it forward by making others feel blessed too.
That’s why I invite you to be part of the Club as well.
To learn more, click the link below.
These All Depends on YOU!
The resolutions will not be successful if you will not put your heart on it. Years will be passing and you will be getting the same results if there’s no focus.
We have to be the best version of ourselves in every year to come. Continue what is working and change what is not.
The success of the next decades is all on YOU!
Make everyday count!