Forbes 4 Steps to Financial Success

If you want to be more cautious with your spending but still enjoy purchases and fun new (costly) experiences that you can actually afford here are some pointers from Forbes to help you find the right balance.

1. Draw Up A Financial Plan

Isn’t it better to find out if you’re going to run out of money and what you can do to prevent it–rather than finding out when you actually run out? Everything from your basic needs to your dream spending splurges should in your financial plan.

2. Track Your Spending

Even the best plan won’t mean anything if you aren’t tracking your spending and making sure it is in line with your plan.

3. Pick Your Toys Carefully

Although those spendy frivolous items (a moped you rode once, that two-person kayak hanging in your garage) all add up. Try determining if a purchase is worth it by calculating your cost per use.

4. Don’t Let Your Home Become A Money Pit

Replacing windows, tenting the home for termites, putting up a new fence—all common homeowner worries. Either plan for these payments in your financial plan or consider downsizing your home and purchasing a newer property.

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