Personal finance tips and advice on money and investing to increase your financial intelligence and welfare

7 Personal Finance Practical Tips by an Average Guy

Do you want down-to-earth personal finance practical tips that don’t sound like coming from a personal finance expert – something that can get your financial future on track? Then you must read the tips in this blog post…

money tips

Image by Philip Taylor

Do you feel that you always have financial problems?

Are you struggling to make ends meet, no matter how much money you make? Are you making more, yet have more debt than before? Are you having a tough time building up savings, let alone enough money to invest? Are you always thinking that you are not financially sound?

Those are typical questions lingering in our head. Most of us struggle with those in our lifetime. And it’s a waste really spending our life worrying things like those, when the solutions are there, right in front of you.

You see, we always make excuses. We do whine and nag a lot. We blame others many times. We always be negative about our situations. We always blame the economy, the government and so on for our financial woes.

Do you know where the root of the problem? Most of the time, it’s in your mind. YOU are the culprit of your sense of lack of money. You make a decent amount of money, but YOU can’t make the most of it! Some of you might make so little that you can barely life a decent life. Fear not, you can be better once you discover how.

Who am I?

I am an average guy working from home, surrounded by the people I love. I’m not wealthy, but I am thriving to be financially sound – thanks to my wife’s knack for budgeting. We are on our way to financial independent.

We don’t invest in stocks – personal preference. We are investing in real estates, and we are on our way to purchase our second real estate as an investment. We invest in private business -that’s our “savings.”

I read most Robert Kiyosaki’s books – his books help us build our personal finance on a strong foundation.

I’m not going to overview what Robert taught – you can do just that by reading the books yourself – but what I’m going to tell you is some tips on how to better your personal finance. I can be very wrong, but I know I’m right in most of what I’m doing simply because I’ve done it and it succeeds.

7 practical tips to make your personal finance better

Without further adieu, here are my tips, guaranteed to help you get better financially.

1. Track your expenses

Sounds simple, but most of us don’t do it! I guarantee you this: Once you start tracking your expenses, you will start to discover that you are spending more than you should for “common” things you are doing – this is what happening to me…

2. Do worst-case budgeting

When you think that $100 is enough for groceries, make it $150… even $200 in your budget. Always budget for the worst case scenario. This way, you have some sorts of safety net when things go overboard for one reasons or another.

3. Pay yourself first

Typical advice, but this is so true. Allocate your income well, first for your rainy days account and investment budget, then the rest on your monthly expenses. Never, ever touch that rainy days account and investment account, unless you need to do so according to the purpose of the accounts – investing, paying for hospital fees due to accidents, etc.

4. Don’t lie to yourself

Believe it or not, many of us love to lie to ourselves regarding our financial situation. Just face it – the numbers are there; crunch it and do things accordingly.

5. If you don’t have the discipline, just don’t use credit cards

Credit cards are great ways to manage your personal finance better; but if your credit cards cause you headaches with all the late payments and such, then you’d better off leave your credit cards behind when going for shopping – or simply close your credit card accounts.

6. Always find ways to increase your income

While you are working on improving your personal financial control, you might want to find ways to increase income. Doing online business can help, as it often requires you no money to invest – read this article to get you started in exploring business ideas with little or no initial investment.

7. Just do it!

No matter how many tips and advices you read and listen to, if you don’t put them into practice then everything is useless. Just do it – when you read someone can save thousands of dollar just by replacing a cup of Starbuck coffee with a home-brewed one (yes, you CAN save thousands doing that!) then just do it!

Don’t make excuses as excuses won’t get your personal financial situation better. Put everything into practice and you’ll see that your personal financial situation will get better gradually.

Good luck in your personal finance endeavor!

About the Author: Ivan Widjaya loves to work at home, make money online. He doesn’t make millions but practicing simple personal finance and investing methods put him and his family on track to financial independence.