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April 23, 2019

5 Steps to Improve Your Finances When You’re Clueless About Money

Category: Manage Finances
So many times people throw their hands in the air when it comes to money – where does it go, and how does it slip through your fingers? What many people don’t know is that their problems with money need to be unlearned before they can get ahead. So even if you’re clueless about money, here are five steps that will help you understand what you need to unlearn about money to improve your finances.

Don’t fall victim to desire.

Do you spend on items that end up in the back of the cupboard in six months? Do you buy those things on credit? This desire for expensive, fancy, or superficial items may be holding you back financially. Challenge yourself to look but don’t buy these items for six months and see how much you have saved. Once you start to see results, it becomes easier to say “no” to things you desire, and increasing your savings and investments becomes just as rewarding.

Don’t put it off.

Have you ever said “later’ when it comes to doing something about money? So often we put off doing something to put ourselves in a better position. Whether it’s to add more to super, save 10 per cent of your salary, or put together a budget. The thing about time is it does not stop. The sooner you start, the better it will be.

Don’t believe everything you know as truth.

Did you grow with up parents telling you there was never enough? Did you believe that earning money was hard? Think about what beliefs you grew up with around money… These beliefs may be holding you back. So question what you know, research and make sure you’re simply not following the beliefs of others.

Set goals, and think ahead.

So many of us don’t hit goals, because we don’t even have them. Do you focus on today, next week and next month, instead of next year, 5 and 10? The broader your focus is, the more likely you are to achieve those big picture goals.

Actually take action.

Do you know how to do a budget? Or what you will need to retire? So often people don’t know what action to take, so they don’t take any. If you want to know if you can do yourself, go to the ASIC money smart website and use their calculators. If you need help, it’s time to find the right financial planner for you.

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  • From Kids Debit Card on Changing Conversations You Need to Have with Your Kids

    The goal of the following article is to assist parents have meaningful conversations with their children about money and financial literacy by providing them with practical guidance and useful recommendations. The author discusses goal-setting, budgeting, saving, and investing, and offers advice on how to have these discussions with people of varying ages. The essay is informative and easy to read, making it a valuable tool for parents who want to teach their children about money.

    For More Info:-https://busykid.com/kids-debit-card/

    • From admin on Changing Conversations You Need to Have with Your Kids

      Thanks for your comments!

  • From Gale Pickles on It Was the Best of Times, It Was the Worst of Times

    So enjoyed this, I will share if that’s okay with you, many of my friends will benefit from your journey.
    Many Blessings for 2023
    ♥️♥️♥️♥️♥️

  • From ScottViabe on Three ways to embrace change to improve your life

    Hi all! This is a good site.

  • From David Horton on How Finfluencers are teaching millennials and Gen Z about money

    And once again the regulator finds a way to stop ordinary people from getting advice by placing high costs on people who do the right thing. If a finfluencer is actually trying to scam someone, it would not be hard to operate outside Australian jurisdiction.

    • From admin on How Finfluencers are teaching millennials and Gen Z about money

      They definitely have a place. People need advice and many are working on it to be more accessible. Watch this space!

  • From Camelia on IT'S NOT TOO LATE FOR YOU

    It’s never too late to learn something new and to start all over again. Unless you’re dead, you can do it.

    • From admin on IT'S NOT TOO LATE FOR YOU

      So true

Each day I wake up excited to inspire everyday people to open up and take control of their money, regardless of their history, goals, or savings amount. About Vanessa >>

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Authors

  • Vanessa Stoykov
    Vanessa Stoykov

    Vanessa has been passionate about writing and storytelling since her days of hiding under the doona with her torch to read after bedtime.

  • Kathy Skantzos
    Kathy Skantzos

    Kathy is a yoga-loving world traveller who also happens to moonlight as a business journalist and writer. She was the finance editor of news.com.au and the Managing Editor of CEO Magazine (Asia) before joining Vanessa and the evo squad.

  • Shayne Sommer
    Shayne Sommer

    Shayne is second dan black belt in karate, and a budding romance writer with a difference. Why? Because she writes romance stories that always have a money lesson.

  • Antoinette Colbran
    Antoinette Colbran

    Specialising in stories for 50+ women, Antoinette draws from her own experiences to help other women avoid the pitfalls and see the benefits of understanding their money situation.

  • Michael Crooks
    Michael Crooks

    Michael Crooks is a more than 20 year writer and documentary maker who has worked with Time Inc and the BBC, who wants to expose the truth from real victims of financial crime to help others avoid their mistakes.

  • Kim Payne
    Kim Payne

    Kim Payne has spent the past three decades as a speaker, trainer, business coach, and consultant in financial services. She has worked with and transformed hundreds of brilliant, educated, high achievers who are chronically under-living.

  • Rebecca Pritchard
    Rebecca Pritchard

    Rebecca Pritchard is on a mission to help men and women achieve equality when growing a family.

  • Antony Perring
    Antony Perring

    Ant is a writer, designer and business builder with a love of food, design and good living. He writes on food and money in an easy to do way.

  • Julie Hyde
    Julie Hyde

    Julie Hyde is a leader of leaders. A disruptor and a powerful people enabler who empowers leaders to make big things happen.

  • Joshua Pennell
    Joshua Pennell

    As a Dad to four kids and a business owner, Josh is passionate about family and finances and is known as The Family Finance Guy.

  • Sid Lal
    Sid Lal

    Sid is a serial entrepreneur who set up his first business when he was still in University. Since 2009 he has been heading Bruce Clay, first in India & more recently in Australia.

  • Lou Johnson
    Lou Johnson

    Lou Johnson believes in the power of sharing stories to build empathy, understanding and connection. Growing up surrounded by books and storytelling, alongside her drive to make a difference led her to a highly successful career in book publishing.

  • David Rae
    David Rae

    Dave is a CERTIFIED FINANCIAL PLANNER® professional and has been a financial adviser since 2003. He works with a range of clients and has a strong focus on ethical and sustainable investing.

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