WalletFriend Wisdom Tip #13: Becoming Effective With Your Finances – Pt.1

We are back again with a new financial tip! This week’s tip is about becoming effective with your finances. To manage your finances successfully you have to work in a way that is effective. We are going to explain how you can do this using 7 steps, inspired by Stephen Covey’s 7 habits of highly effective people. To start things off we will explain the first 3 steps.

Being Proactive
In order to be proactive, we have to be the ones to take initiative. Don’t react to something but make sure to be in front of it, with this we mean always be one step ahead. This is the same as setting up an emergency fund. Take a look back at our Wisdom Tip #6 to get a refresher on how to set up an emergency fun.

Have A Clear Vision
Starting with a clear vision on what you want to achieve is really important. This will make it much easier to keep track and control of your finances. If you still need some more help on creating your financial goals or simply want to know more about it, take a look back our Wisdom tip #5.

Prioritize
When you are busy it is very easy to lose track, and forget about your financial goals. For this reason, it is important to give priority to the most important things. As we explained in Wisdom Tip #7 it is important to pay yourself first and then take care of all other important aspects.

We hope todays tip gave you some help in becoming more effective. Remember to look forward to our next tips where we will further discuss the next of the 7 steps!