We always look for free financial advice to improve our financial well being and live a happy, abundant life.
Financial well being is a feeling of sense of security and a feeling of abundance that makes us live life without any stress and and kind of financial anxiety, so to help you achieve financial well being we have presented some free financial advice which is highly productive and will help you in life to be financially wealthy.
Free Financial Advice for your Financial well being
We have presented 3 free financial advice that will help you achieve financial well being.
A basic and easy financial advice is given by all that one should spend money according to his pocket power and spending money wisely will make you financial abundant for life.
If you know what's really good for you, how to buy, how to prioritize or in simple words define the things you actually need to spend on.
We all want to show off have and we are attracted to lifestyle that is of idiotic money spending on things we don't even need just to maintain our status which is very wrong.
As Gandhiji said
"There's enough for everyone's need but not enough for everyone's greed."
We give you basic free financial advice which will work for you lifelong. So read on.
The most basic and productive free financial advice is to prioritize your spending and if you do this you will easily achieve financial well being.
Sorry to burst your bubble, but you can’t have it all. Even millionaires don’t have everything they want. However, you can ultimately get most of what you want (and all of what you need)—if you prioritize spending.
We all want to show off have and we are attracted to lifestyle that is of idiotic money spending on things we don't even need just to maintain our status which is very wrong.
As Gandhiji said
"There's enough for everyone's need but not enough for everyone's greed."
We give you basic free financial advice which will work for you lifelong. So read on.
PRIORITIZE YOUR SPENDING
Sorry to burst your bubble, but you can’t have it all. Even millionaires don’t have everything they want. However, you can ultimately get most of what you want (and all of what you need)—if you prioritize spending.
By this, I mean look at all your wants and needs and prioritize them. Needs are simple: a roof over your head, food, clothing, transportation, entertainment, and health care.
When it comes to your wants, expand on them. How big an apartment/house do you need? How nice a car do you desire? What type of clothing? Restaurants: four nights a week? Extravagant vacations? And, of course, much more.
Now comes the difficult but necessary part. What is most important to you? If socializing is most important, then budget more money toward social events and eating out. If you like home entertainment, then prioritize a large-screen TV.
Now comes the difficult but necessary part. What is most important to you? If socializing is most important, then budget more money toward social events and eating out. If you like home entertainment, then prioritize a large-screen TV.
If a nice car is important, then compromise on the size of the apartment you rent. However, realize you can’t have it all unless you can afford it. You will have to prioritize your spending's and have trade-offs.Let me give you a real-life example, me at the age of twenty-five.
Well if you dont spend a lot of time at home, you didn’t won't need a heck of a lot more. Think of what is needed at the time, and if you live in this small space allow yourself to spend your money on other things that were more important to you.
You are the only one who knows what’s most important to you. Remember that: What is important to you ? Not what is important to the people next door and just following this free financial advice will create financial well being in your life.
The most common habit of general public is to act in a way that brings them social prestige but they only end up acting fake and living a fake lifestyle that destroys their financial well being.
You are the only one who knows what’s most important to you. Remember that: What is important to you ? Not what is important to the people next door and just following this free financial advice will create financial well being in your life.
DON’T TRY TO LIVE A FAKE LIFESTYLE
Over consumption habit lives on, as does keeping a fake lifestyle habit. People want others to believe they can afford more than their income allows them to. Out philosophy is “Who cares about fancy stuff?”
The only people you ultimately answer to are you and your family. If your neighbor gets a new BMW, you don’t need to follow her. If she can afford it, then good for her. In all likelihood, she can’t afford it.
Much of the time, you’ll find she is just trying to keep up with the neighbor on the other side of her house just to compete and have a fancy fake life.
We have seen the reality of this in the past few years as the number of home foreclosures and car repossessions has increased astronomically.
The most important aspect of this principle is that you recognize there will always be people who live better than you. And you should feel good for them.
The most important aspect of this principle is that you recognize there will always be people who live better than you. And you should feel good for them.
On the other hand, there will always be people who can’t afford as much as you (though their financial purchases may make you think otherwise!).
Your goal is to be financially responsible now so that you can progressively increase your financial well being in the future. Don’t be concerned with where you are financially in relation to others.
This is a significant pitfall you might fall into when purchasing a car or a home. Since you will most likely be purchasing a car before a house, let’s look at the monthly cost of automobile ownership (not including the purchase price):
▪Insurance ($40–$250)
▪Registration & Title ($5–$20)
▪Maintenance and repairs: oil changes, tires, car washes, etc. ($20–$120)
▪Gasoline ($30–$220)
▪Parking and tolls ($0–$300)
All of the above vary depending on the following factors (and many others):
▪The type/size of your car
▪Where you live
▪How many miles you drive a year
▪Your driving record.
When you factor everything in, the monthly cost of ownership can be as high as your monthly payment, especially if your insurance costs a lot!
Now let’s look at the cost of ownership of home (not including your down payment and mortgage):
▪Taxes ( value)
▪Insurance
▪Maintenance and repairs
▪Filling your house with furniture and appliances
▪Utilities (e.g., gas, electric, water, and garbage)
▪Homeowner association fees
▪Interior designing
▪Home inspection
A couple of these are one-time costs (closing costs and home inspection) that people forget to budget for at the beginning of their home purchase.
Your goal is to be financially responsible now so that you can progressively increase your financial well being in the future. Don’t be concerned with where you are financially in relation to others.
LEARN IMPORTANCE OF COST OF OWNERSHIP
The most basic and free financial free advice worth millions you can get is to learnt the importance of cost of ownership to achieve financial well being.
Lets understand how cost of ownership can affect your financial health.
This is a significant pitfall you might fall into when purchasing a car or a home. Since you will most likely be purchasing a car before a house, let’s look at the monthly cost of automobile ownership (not including the purchase price):
▪Insurance ($40–$250)
▪Registration & Title ($5–$20)
▪Maintenance and repairs: oil changes, tires, car washes, etc. ($20–$120)
▪Gasoline ($30–$220)
▪Parking and tolls ($0–$300)
All of the above vary depending on the following factors (and many others):
▪The type/size of your car
▪Where you live
▪How many miles you drive a year
▪Your driving record.
When you factor everything in, the monthly cost of ownership can be as high as your monthly payment, especially if your insurance costs a lot!
Now let’s look at the cost of ownership of home (not including your down payment and mortgage):
▪Taxes ( value)
▪Insurance
▪Maintenance and repairs
▪Filling your house with furniture and appliances
▪Utilities (e.g., gas, electric, water, and garbage)
▪Homeowner association fees
▪Interior designing
▪Home inspection
A couple of these are one-time costs (closing costs and home inspection) that people forget to budget for at the beginning of their home purchase.
Some people would classify other costs (like maintenance d repairs) as “unexpected,” but experienced homeowners know that you need to budget for“unexpected” maintenance and repair costs since they tend to occur every year.
The bottom line is that you shouldn’t just think of the purchase price of your home or car. If you forget about the main cost of ownership, you will find yourself selling your home or car sooner rather than later.
These are some basic free financial advice for you to achieve financial well being.
The bottom line is that you shouldn’t just think of the purchase price of your home or car. If you forget about the main cost of ownership, you will find yourself selling your home or car sooner rather than later.
These are some basic free financial advice for you to achieve financial well being.
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