2013 Frugally Taking Control of Your Financial Fate
Frugality. It’s easier said than done, but if you want 2013 to be the year you save big then maybe it’s time to think frugal and wrest control of your financial destiny.
But how can you go about putting the plan in action? Take these steps and before you know it you’ll quickly find yourself well on the way to financial independence.
Change Your Money Thoughts
Your financial thought process goes a long way towards determining if you’re ready to take control of your financial fate. What should you be on the lookout for?
Many people have come to view their finances as something out of their control; beyond a few attempts at cutting costs they believe they’re mostly at the mercy of others – their bosses, the stock market and the dreaded “recession”.
Let’s put a stop to that now, You can make the difference, and whatever happens in 2013 no one has more to gain from your finances. Before moving forward you need to realise your money is your responsibility.
Create New Income Streams
If your only source of income is your day job, then you need to create a new source of income so that you’re no longer relying on just one paycheck.
How you go about this can differ depending on your skills; you may have a valuable skill you can use outside of the workplace, or you could consider picking up a part time job, there are many different ways to diversify your income and by having a healthy cash flow from several different sources, you’re ensuring financial stability if the worst should happen. Look to save your money with a range of savings alternatives out there such as an investment plan or a fixed rate bond account, sites like Fair Investment Company, MoneySuperMarket and money.co.uk, offer a range of deals for those looking to save on their capital and maximise their returns. [Read more...]