You surely know someone who has a lower income than you but saves more so he has some free cash for traveling, gambling in the National Casino login platform, or his hobbies. Want to achieve this? Then these 5 tips will help you.

Write Down, Count, and Review Your Financial Goals

We all make wish lists, but it is important that they are not in our heads, but on paper. At the same time they can and should be counted, and their value should be estimated.

To do this, you need to answer four questions:

• What do I want?
• How much does it cost?
• When do I want to get it/do it?
• What do I have for that?

These goals are subject to change, and their value may change because of inflation. At the same time, the goals must be realistic.

Account Assets, Debts, Expenses, and Income

We can only control what we can count. When you understand how much money you have in your hands, when you understand what it’s going for, it’s easier to manage it.

To understand how much money you can put toward your goals, you have to understand where you’re spending it.

There are many tools for keeping track of your expenses and income, from Excel to mobile apps.

Pay Yourself First

You should always set aside 10% in a separate account.

The rich man is not the one who gets a lot, but the one who has a lot of money left over.

Your task is to create a difference between income and expenses.

As soon as money comes to you – whether it’s a salary or a one-time transfer – set aside a tenth of it.

The key word in this habit is first.

If you can’t set aside 10%, start with 5%. The optimal goal is to save 20-30%.

Even if you save $5 a day, by the end of the month you will have $150 and by the end of the year you will have $1,800.

Invest

Investments are one of the ways to get passive income. They are necessary.

You can invest in the stock market, you can buy bonds, etc. – and profit from it.

The rules of investing:

• Compound interest (when income is accrued on previous income, interest on interest) – in this situation, time plays in your favor.
• Discipline – invest regularly.
• Averaging Rule.

Even $15 is enough to start investing. You can figure it out without an economics degree.

Work With Your Thoughts About Money

It’s important that when you think about money, you have positive thoughts in your head.

In the first step, monitor and evaluate your thoughts. Do you enjoy spending money, or are you worried about it going away? Is money a good thing or a bad thing?

It depends a lot on the background. A large part of the attitudes we absorb from the family, and they can limit the money flow in our heads.

If you don’t love money, it won’t come to you. Love it. Money is good, it brings opportunity. That’s why in the hands of bad people it does evil, but in the hands of good people it does good.

As soon as you catch the thought that money is tight, stop it and restate it.

The art of small steps:

• You have to do it all every day. You don’t have to do it all at once; start with one thing at a time.
• Tie it to an existing habit. For example: you brush your teeth every day, after that – transfer $5 from one account to another.
• Create checklists and use “reminders” – strive for visualization.
• Set short deadlines. For example, make it a rule to keep financial records for one week. If you succeed, celebrate your success.
• Don’t be afraid to reward yourself. Small inexpensive joys that will motivate you to fulfill your goals in the future.
• Make public promises. This will compel you to keep them. However, this recommendation does not work for everyone.
• It is important to have a supportive environment around you. Involve your loved ones and family in your goals. People should not discourage you from pursuing your goals; they should share in your successes.

Keep the fervor you got and implement these habits!