Financial Habits You Need To Get Rich (Part 1)

There are so many things that you can do to create yourself a healthy bank account, but have you ever thought about how you can make yourself rich?

It’s not as easy as it seems, there is always hard work to be done, but if you want it, you’ll work for it.

There will be a few (10 to be exact) topics that we’re going to touch on through this series, hopefully it helps!

Create A Budget And Stick To It.
This may seem simple and relatively straight forward, but how many times have you gone to the supermarket and bought way more than what you originally went for, or you saw a cute dress so you told yourself you needed it, without having a solid reason?

This does so much damage to your savings to say the least.

By creating a budget, you’re allowing yourself to indulge in a few luxuries, but when the time is right… and when the time is right, we mean after the bills are paid, and your grocery shopping is done etc.

It’s super important to have a reasoning behind each of your purchases, whether it be as big as a car, or as small as a new pair of undies. You must ask yourself every time ‘why am I buying this?’ and give yourself a logical answer, not just ‘because I deserve it’ or ‘because there’s a sale on’.

Upon giving that answer determines how badly you need the item, which should either increase or reduce the want for the item.

Build an Emergency Fund.
And don’t touch it unless it really is an emergency!

By doing this, you’re preparing yourself for the unknown… some examples are along the lines of having to book an emergency flight or trip home, paying for an accident, or you know, unexpectedly losing your job.

An emergency fund isn’t for the small things like groceries or an outfit for a wedding you’ve known about for 12 months, it’s there for when times get really tough.

The best way to go about this is to set up an account and have a designated amount (maybe $50) automatically transferred into that account every fortnight.
After a while you may find that you forget about the account all together!

Increase your income
How you ask?

Well, it may be as simple as getting another little side job, whether that be bartending or Uber driving after hours, or you could venture out into the cyber world and create some online hustles that may not require as much work.

Things like that include starting a blog or a vlog, writing an eBook and selling it, peer-to-peer learning (writing a course to sell etc.) and the list goes on, there are a whole range of ways to make more money on our site such as the Making More Money Part Series, and the Passive Income Part Series.

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