Skip to content
  • Home
  • Business
  • Digital Marketing
  • Education
  • Finance
  • Health
  • News
  • Technology
  • Travel
  • Login

Get Post on Top

Guest Post Site

  • Home
  • Business
  • Digital Marketing
    • Content Marketing
    • SEO
    • SMO
  • Education
  • Finance
  • Health
  • News
  • Technology
  • Travel
  • Login
  • Toggle search form
  • Shopify SEO guide
    Shopify SEO Digital Marketing
  • itunes error 3600
    How to fix iTunes error 3600? Technology
  • mac running slow
    17 Reasons Why Your Mac Running Slow! Technology
  • microsoft word not responding mac
    4 Ways to fix Microsoft Word not Responding on Windows & Mac Technology
  • difference between whatsapp and whatsapp business
    Differences between WhatsApp and WhatsApp Business, which one to choose? News
  • avira prime review
    Avira Prime Review, Not Just Antivirus Technology
  • botox injections san diego county
    Botox Treatment in San Diego County:- Health
  • Windows 10 Desktop Icon Missing
    How to Fix Windows 10 Desktop Icon Missing? Technology
Financial Advice

The Best Financial Advice You Can learn from Your Mentor

Posted on May 12, 2021May 12, 2021 By James Martin No Comments on The Best Financial Advice You Can learn from Your Mentor
0 0
0 0

Index

  • Wait before you buy
  • Set saving goals
  • Start saving as soon as possible
  • Future earnings should not be a basis for a financial advice
    • Share
    • About Post Author
        • James Martin
Read Time:4 Minute, 36 Second

Your mentor can be anyone – it can be your mom or dad or even your sibling who has skills to smartly manage money. Financial management is an art, but you can learn it. Unfortunately, there are not many people who are ace at money management. 

If you are also one of them, do away with your worries because approaching a mentor can undoubtedly help you get on the financial track. When you consult your mentor, you will have to explain your financial condition to them, so they can analyse where you currently stand, what your goals are and how you can fill the gap. 

However, there are basic rules that apply to everyone. In order to take control over your finances, you do not need to actually consult a mentor because the advice is more or less going to be the same as below. This blog tells how you can get a better control over your finances. 

Wait before you buy

There are many things that you may want to buy. It can be anything and most of them they are not very urgent. Just because you have some money in your account, so you do not wait to spend it. A rule of thumb says that you should wait for a couple of days to make sure that you want to buy it. 

This is a great strategy to stop impulse buying. Sometimes you go to the market and come across a thing that you find very interesting, you become tempted to buy it. This temptation can cause wreak havoc on your budget. 

To overwhelm this temptation, the best thing is to put off your purchase. It is not surprising that the thing you are hankering for now may fall out of your approval after a couple of days. Wait for at least a week before buying it. Add to your wish list. You may forget about it after some days. If it is still at the back of your mind, you should buy it.

Set saving goals

When it comes to setting saving goals, you often decide to set aside a fixed percentage of your money every month. This is not how you can achieve your saving goals. Putting aside a foxed portion of your money is one thing and doing it for a specific purpose is another. 

You need to save money for various reasons. For instance, you may need it to fund your unexpected expenses or you need to build a retirement fund. Just stashing away 10% of your income, for instance, cannot help you achieve your goal. 

Set your goals – mortgage deposit, car down payment, retirement funds, and emergency cushion. Analyse how much money you have in total to contribute to each of the categories. Look over your previous bank statements to check how much money you normally need for your regular expenses. 

Use the rest of the money for one or all of these categories. This can prevent you from turning to lenders for funding your needs all the time. However, it does not mean that you will never need to borrow money. 

Start saving as soon as possible

Do not delay saving money for your future goals. There are some long-term goals that you do not bother to save about now. For instance, you know that you need to buy a house and car at one point in your life, but you start saving for these goals in your 30s. 

Do not wait for such a long time. It seems easy to arrange the down payment in less time, but it is not that possible. Therefore, you should start saving for these goals as soon as possible. Try to do it in your 20s. It should not be delayed further when you turn 25. 

However, make sure that you do not compromise with your emergency cushion to save for such long-term goals because this will help you tide over during financial emergencies. However, if you still face some cash shortage, you can seek guaranteed loan approval from direct lenders. 

Future earnings should not be a basis for a financial advice

One of the biggest mistakes that takes a toll on your finances is you rely on your future income to meet your expenses. For instance, you want to buy a laptop, you use your credit card in the hope of getting paid from your client. 

What if your client does not pay you? Of course, you will fail to pay off your credit card debt. As a result, you will be imposed late payment fees and note that the interest rate is generally higher for credit card debt than any other short-term loan. 

It can quickly add up and eventually you will fall into debt. A rule of thumb says that you should treat cash your own that is in your hand. You cannot make any purchase based on the income you have yet to realise.  

If you live on your monthly income, you will be able to better control of your spending. This will not only prevent you from overspending but it will also help you save money for a rainy day. 

If you are looking to take control of your finances and do not know what you can do for it, you should follow the advice mentioned above. You can also consult a mentor who has been expert at money management and you will notice that they also give this sort of advice.

Share

Facebook
Twitter
Pinterest
LinkedIn
Get Post Top

About Post Author

James Martin

seoexperts1994@gmail.com
https://getposttop.com
Happy
Happy
0 0 %
Sad
Sad
0 0 %
Excited
Excited
0 0 %
Sleepy
Sleepy
0 0 %
Angry
Angry
0 0 %
Surprise
Surprise
0 0 %
Finance

Post navigation

Previous Post: How to Apply for a Personal Loan Using Aadhar Card in 2021?
Next Post: Why YuppTV is unique from other streaming sites?

Related Posts

  • Lose Weight
    How To Lose Weight Fast At Home Without Exercise? Finance
  • Mortgage Loan
    How to Do Mortgage Loan Repayment with a Mortgage Calculator? Finance
  • Crypto Investment Mistakes to Avoid
    Top 5 Crypto Investment Mistakes to Avoid Finance
  • plan monthly returns in a fixed deposit
    How to plan monthly returns in a fixed deposit? Finance
  • Consider Before Prepaying Home Loan
    Important Points to Consider Before Prepaying Home Loan Finance
  • bookkeeping
    6 Basic Bookkeeping Tips for Truckers and Operators Business
  • Gold loan interest rate
    5 important things to know before you opt for a gold loan Finance
  • Buy Crypto in Minutes With Kraken
    How to Buy Crypto in Minutes With Kraken in an Easy Way? Finance
  • Get Post Top
    5 Benefits of a Home Loan for Women in India Finance
  • How You Allow More Money to Slip off Your Pockets
    How You Allow More Money to Slip off Your Pockets Finance

Average Rating

5 Star
0%
4 Star
0%
3 Star
0%
2 Star
0%
1 Star
0%
(Add your review)

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • How to Talk to Your Therapist About Difficult Topics?
  • The Benefits of Therapy
  • Tips for Using Asset Management Tools Successfully
  • The Benefits of Replacement Windows
  • Cactus Garden, Panchkula: The Perfect Pitstop

For Guest Post or Any Query Please Contact us On Getposttop@gmail.com.

ES_400x300x2-1

Categories

  • Activation (14)
  • Beauty (3)
  • Bio (1)
  • Business (374)
  • Digital Marketing (97)
    • Content Marketing (13)
    • SEO (37)
    • SMO (11)
  • Education (27)
  • Entertainment (12)
  • Finance (74)
  • Health (221)
    • Fitness (3)
  • Home Improvement (26)
  • Legal (2)
  • Lifestyle (15)
  • Login (1)
  • News (174)
  • Pet (15)
    • Crypto (11)
  • Technology (240)
  • Travel (70)

Sponsored – Paid Promotion

nbc.com/activate, showtimeanytime/activate, crackle.com/activate, mylifetime.com/activate, youtube.com/activate, nfl.com/activate, hulu.com/activate, tubi.tv/activate

Our Sister Sites

Geeksscan.com
Bingarticles.info
Espnuevoslibros.com
Healthgurus.co
Cellphonespy2014.com
iPhones-giveaway.com
Rokanhuluonline.com

Recent Posts

  • How to Talk to Your Therapist About Difficult Topics?
  • The Benefits of Therapy
  • Tips for Using Asset Management Tools Successfully
  • The Benefits of Replacement Windows
  • Cactus Garden, Panchkula: The Perfect Pitstop
  • quickbooks desktop premier 2020
    Intuit QuickBooks Desktop Premier 2020 – AccountsComparison Finance
  • Places to Travel in Toronto
    Top 5 Best Tourist Places to Travel in Toronto Travel
  • cheap flight hacks
    10 FLIGHT BOOKING HACKS TO SCORE CHEAP FLIGHT DEALS Travel
  • Xero PSG approved vendors
    Is Xero better than QuickBooks? Business
  • Digital Marketing
    Top Advantages Of Hiring A Digital Marketing Agency Digital Marketing
  • Get Post Top
    Top 7 skills required for a data analyst Technology
  • Flaxseed Oil
    Is Flaxseed Oil Omega Good for Weight Loss? Health
  • Get Post Top
    Can You Apply for a Personal Loan After Bankruptcy? Finance
May 2022
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031  
« Apr    

App Development App Development Company business CAT online Coaching cheap flight tickets curcumin curcumin 95 Custom Boxes custom packaging Digital Marketing display boxes Display Packaging education fashion fish oil Fitness Fixed Deposit flaxseed oil flight booking Health immunity booster law Mobile App Development Company mobile application development modalert modvigil omega 3 omega 3 fish oil Omega 6 Real Estate sell your house fast indianapolis SEO SEO Services tiles Top Destinations Flight Offers tour Travel trek website we buy homes indianapolis we buy houses fast indianapolis we buy houses for cash indianapolis we buy houses indianapolis we buy houses indianapolis in weight loss

  • Activation
  • Beauty
  • Bio
  • Business
  • Content Marketing
  • Crypto
  • Digital Marketing
  • Education
  • Entertainment
  • Finance
  • Fitness
  • Health
  • Home Improvement
  • Legal
  • Lifestyle
  • Login
  • News
  • Pet
  • SEO
  • SMO
  • Technology
  • Travel
  • Home
  • Business
  • Digital Marketing
    • Content Marketing
    • SEO
    • SMO
  • Education
  • Finance
  • Health
  • News
  • Technology
  • Travel
  • Login

Copyright © 2022 Get Post on Top.

Powered by PressBook News WordPress theme