fbpx
Potentash
  • Relationships
    • The Singlehood Series
    • Dating
    • Sex
    • Parenting
  • Lifestyle
    • Home
    • Food + Beverage
    • Fashion
  • Fiction
    • Short Stories & Poetry
  • Skin + Beauty
    • Skin
      • Skincare
    • Hair
      • Haircare
  • Wellness
    • Physical Health
    • Emotional Wellness
    • Mental Wellness
    • Social Wellness
    • Spiritual Wellness
  • Business
    • Business Finance
    • Personal Finance
    • Entrepreneurship
    • Investments
    • Personal Investments
  • Travel
  • Entertainment
No Result
View All Result
  • Login
Potentash
  • Relationships
    • The Singlehood Series
    • Dating
    • Sex
    • Parenting
  • Lifestyle
    • Home
    • Food + Beverage
    • Fashion
  • Fiction
    • Short Stories & Poetry
  • Skin + Beauty
    • Skin
      • Skincare
    • Hair
      • Haircare
  • Wellness
    • Physical Health
    • Emotional Wellness
    • Mental Wellness
    • Social Wellness
    • Spiritual Wellness
  • Business
    • Business Finance
    • Personal Finance
    • Entrepreneurship
    • Investments
    • Personal Investments
  • Travel
  • Entertainment
No Result
View All Result
  • Login
Potentash
No Result
View All Result
Saving tools. personal finance habits. image from http://www.thenopebook.com/politics/student-finance-tuition-fees/

Saving tools. personal finance habits. image from http://www.thenopebook.com/politics/student-finance-tuition-fees/

Money: 8 Personal Finance Tips That Will Transform Your Life

Lynda Chalker by Lynda Chalker
April 22, 2019
in Personal Finance
Reading Time: 5 mins read
310 3
0
376
SHARES
2.1k
VIEWS
FacebookTwitterWhatsApp

We live in a time where finance is not only a subject for business students but a skill each one of us needs. The goal is to avoid the rat race, which can leave you living from hand to mouth. Regardless of how much you earn, if you practice these personal finance tips you could end up making some major changes in your life and becoming more self-aware, which is a step closer to good decision-making and better financial habits.

  1. Have a financial calendar

Just as you schedule your work meetings and other appointments, having a financial calendar can be useful in keeping track of quarterly taxes and things you need to buy or accomplish financially before the year ends. Planning for the future: How to create a Financial Plan

  1. Keep track of your net worth

If you thought the word net worth is directly linked to people earning six-figure salaries, you thought wrong. Keeping track of your liabilities and assets will help you get a clear picture of your financial standings shedding light on what you need to cut costs on or what you need to invest in. What You Need To Think About In Terms Of Your Net Worth Vs Net Wealth Statement

  1. Recognize your financial priorities

Set aside a percentage of your income for financial priorities. This includes emergency savings, loans and debts or any other venture you plan to take on once you quit employment.

Personal finance. Notebook with Priorities. Image from https://www.memberadviser.com/lionsharecu/e_article003580974.cfm?x=b11,0,w
  1. Budget for your lifestyle spending

It is okay to live by YOLO but if you’re not Jeff Bezos, Elon Musk or any other financial guru you know about, plan on how much to spend on your lifestyle expenses. This ranges from movies, dates to planning your road trips and travels.  Here is How To Live Your Best Life On A Budget

  1. Have a mantra

You probably have come across quotes and witty words that give you a sense of awakening, leaving you to search for who is behind them. Adopting a mantra will help you have a rule you can fall back on, in times of temptation and when you want to remain steadfast on what you need to spend. This is for thrift shoppers, Ngara, Toi and Gikomba market enthusiasts. “If you can’t see yourself wearing it with more than five outfits and to more than five places, don’t bother.”  This is mine. What’s yours?

  1. Set short-term financial goals

The further away a goal seems, the more we tend to give up. After you establish that ultimate goal, have short-term goals/objectives, that will get you quicker results as you work to build upon your dream. 6 Financial Goals That You Should Work Towards

A positive message. Finance habits. image from https://www.pinterest.com/pin/190980840420910216/?lp=true
  1. The art of gratitude

Learn to savour what you have now rather than miss out on the present as you try to acquire more. Have you noticed how money is never enough? Before my friends and I had a salary, we used to think of how ahead in life we would be if we earned an income. We saw ourselves accomplishing our goals and even saving for the future. I cannot elaborate further on what happened.

The thing about money is that it prompts status. If you were earning 100,000 Ksh and you suddenly start earning 500,000 Ksh, you will tend to adjust your lifestyle to your new salary. Therefore reward yourself and be grateful for what you can afford this moment and now.

“Gratitude encourages patience—and, thus, a more forward-focused outlook when it comes to your money.” Forbes.

Lifestyle: The Importance Of Daily Rituals And Routines

  1. Be self-aware

After a few months of budgeting and keeping track of your expenditures, you become conscious of the adjustment you might need to make in your finances. This can work in your favour, especially if you are negotiating for your salary in a new company or you just need a raise. Working for less than you spend is a recipe for living beyond your means. This will only lead you to debts and you might not be conscious of the cause, due to lack of knowledge on personal finance and balancing.

Personal Finance: Practical Steps To Get Out Of Debt

Personal Finance: How To Get yourself Organized

Finances: The Importance Of An Emergency Fund

Here are 7 common financial mistakes and how to avoid them.

Featured image via hinesburgnurseryschool.com

Share150Tweet94SendShare26Pin34
Previous Post

Beauty: The Best Korean Products According To Your Skin Type

Next Post

The Dead Cannot Speak – There Are No Two Sides Of The Ivy Wangeci Story

Lynda Chalker

Lynda Chalker

I am a writer with interest in hair, beauty and fashion. I also like telling stories, but most of all I enjoy listening and reading them. If I'm not doing any of the above, I will be trying to crack a game of chess or monopoly. My biggest fear is being ordinary.

Next Post
man holding knife silhouette image from https://www.tollebild.com/bilden/knife-with-blood-clipart-36.html

The Dead Cannot Speak – There Are No Two Sides Of The Ivy Wangeci Story

Please login to join discussion

Recommended

Image from https://unsplash.com/photos/tbwOzgQYeSw

Ways To Treat Yourself With Savings

January 16, 2023
37
Image from https://www.hiltonherbs.com/en-straight-herbs-and-tinctures-es/turmeric-powder

Spices: The Many Benefits Of Turmeric

September 25, 2019
437

Popular Stories

  • Pregnant black woman on hospital bed image from https://www.everydayhealth.com/congestive-heart-failure/guide/

    The Singlehood Series: How I Drove My Boyfriend’s Pregnant Girlfriend To Deliver Their Baby Without Knowing

    1804 shares
    Share 722 Tweet 451
  • The Cologne Scent I Breathed In At The Supermarket Reminded Me Of Love Lost And The Regrets I Had Over Leaving The Love Of My Life

    190 shares
    Share 76 Tweet 48
  • He Proposed That I Should Become His Mistress – What Could Possibly Go Wrong?

    1049 shares
    Share 420 Tweet 262
  • He Dumped Her Because He Wasn’t Ready For A Long Term Commitment But Ended Up Proposing To Her Best Friend

    212 shares
    Share 85 Tweet 53
  • The Singlehood Series: She Asked Him For An Open Relationship But She Didn’t Expect The Turn Of Events

    489 shares
    Share 196 Tweet 122

Potentash Blog

Potentash

Potentash is an award-winning lifestyle blog. We publish lifestyle content that intersects with health, women, beauty, travel, business, relationships, finances and entertainment.

Categories

  • Ethics Statement
  • Terms & Conditions
  • Privacy Policy
  • Contact Us

Copyright © 2022. Potentash, In Partnership with Decima

  • Login
No Result
View All Result
  • Relationships
    • The Singlehood Series
    • Dating
    • Sex
    • Parenting
  • Lifestyle
    • Home
    • Food + Beverage
    • Fashion
  • Fiction
    • Short Stories & Poetry
  • Skin + Beauty
    • Skin
      • Skincare
    • Hair
      • Haircare
  • Wellness
    • Physical Health
    • Emotional Wellness
    • Mental Wellness
    • Social Wellness
    • Spiritual Wellness
  • Business
    • Business Finance
    • Personal Finance
    • Entrepreneurship
    • Investments
    • Personal Investments
  • Travel
  • Entertainment

Copyright © 2022. Potentash, In Partnership with Decima

Welcome Back!

Sign In with Linked In
OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In