Be a Finance Ninja: All about Good Financial Habits

By | December 19, 2015

Financial Ninja

Saving for the future and good financial habits are important for everyone. Planning your finances wisely allows you to plan your life goals and set short-term and long-term targets for yourself. Want to know how to make your money work for you? We’ll tell you the basics and get you started.

Want to learn how to be a Finance Ninja? Here are a few rules of the game.

  1. Spend less than you earn. We know this may sound difficult for some of you, but the idea of saving is that you have something to put aside every month from your earnings. A little cost-cutting can give you big savings over time.  
  1. Stick to a budget. A budget is important if you want to know where your money is going. A budget will help you set and stick to your savings goals.
  1. Pay off Credit Card Debt. Plastic money must be used responsibly. Clear your Credit Card bills completely and you’re one step closer to becoming a finance ninja.
  1. Have a savings plan. Your savings should take priority over your expenses.Pay yourself out of your earnings. Think of savings as a reward to yourself every month. It’s a good idea to set aside at least 5-10% of your pay check, if not more, towards a savings plan.
  2. Invest. Aside from your savings and retirement plan, you should try to put away some money into other investments. Need advice on becoming a smart investor? We can help!
  3. Build an emergency fund. Build an emergency fund in which you should have at least six months to one year’s worth of income. This will help you tide over any unexpected emergencies. But remember, your emergency fund should be used only in ‘real’ emergencies. 
  1. Save that bonus. Make a promise to yourself that you will save at least 90% of your bonus pay. If you want to treat yourself, you can use the remaining 10%.  

If you need advice on making smart investments, we can help you.

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