This Article is About
financial success
dual income families
financial worries
eliminating debt
first glance
earning a living
job security
financial security
Secrets To Financial Success
Join 1000's of Authors at StreetArticles Today!

Would you agree our society is consumer-driven? Aren’t we bombarded with advertisements when we watch TV, listen to the radio or surf the Internet? Don’t companies spend millions in research to determine how we think, shop and live? After all our everyday choices at the mall or grocery store mean billions to their bottom line! Isn’t it easy to see how these natural forces of free commerce distract us from our financial goals, and even lead us into debt? In spite of this, it is possible to achieve financial success.

What do we mean by financial success? Financial success is living within ones means, eliminating debt and saving for ones financial goals. It means planning and implementing a plan to meet all expenses and save for a rainy day including retirement.

What Does It Take? If you are like most Americans, you probably know very little about how to manage your finances. You probably spent months or years training for your profession, and now you’re too busy earning a living to take the time to manage your finances. You may even be so far in debt that you think it is impossible to get out of your rut and find financial success. However, no matter what your income level, you can achieve financial security if you take time to learn a few simple principles about money and budgeting.

It’s Up to You Life is different today than it was yesterday. Lack of job security, dwindling pension plans and a strained Social Security system has added retirement to our long list of financial worries. Even dual-income families find it difficult to meet present needs, much less save for future ones. Now more than ever, it’s crucial we make a personal decision to manage our finances. It’s up to you to put a stake in the ground and do what it takes to find financial success. The benefits are tremendous.

How Do I Begin? Most people have too much month left at the end of the money! At first glance, you may think you don’t have any “extra money” to help your financial situation. Most families feel they do well just to pay the bills and keep their “heads” above water. Don’t give up. There is hope. You can look for ways to begin your savings goals now. If you are like most people, you are spending money on things that you could say ‘no’ too and sacrifice a little to reap a big reward later. Do you know where your money goes every month? Begin with a budget. Identify your known monthly expenses. Identify your monthly income. Jot down where your money goes for one month. At the end of the month you will probably have a real eye-opener. It’s amazing how the little things add up to big dollars. Ask yourself if you are happy with the way you spent your income for the month. Identify where you can change some spending habits.

I Don’t Have Any Extra Money Are you procrastinating in keeping a budget and tracking how you spend your money? Have you already said, ‘I don’t and won’t have any extra money?’ So do you really want financial success? Do you really want to save money for that something special and do you really want to save money for your retirement goals? In seven to ten years every dollar saved doubles and in fourteen to eighteen years it triples. The compounding of interest gains momentum like a snowball rolling down the hill. What do you buy on a daily basis that you could pay less for? For example; suppose you and your spouse each buy two cans of soda at ($1.00 each) from the vending machine at work each day—one for lunch and one for the afternoon break. $1.00 per soda X 4 sodas per day = $4 X 20 work days a month = $80 spend on sodas. Over one year that totals $960. Could you buy your soda at the grocery store for less or could you eliminate the soda habit and drink water which is free. The better question to ask is, ’Are you willing to change your spending habits and life style for the more lofty goal of financial success?

Conclusion It is possible to achieve financial success if you are willing to plan a budget, adjust your lifestyle, and establish money priorities. Along with setting priorities comes one tough rule of life: you can’t have everything. You have to make conscious decisions about your purchases. You can be successful. All it takes is a determination to start and once you start, stick with your plan. With that you will be on your way to experiencing the secrets of financial success.


Street Talk

Great article, Pump Man. They say when the going gets tough, the tough gets going !

Reply
  about 4 years ago
You May Also Like
Be Consistent, Effective And NOT Popular
Popularity, why is it so important to people? Why is it something people strive for and in some cases...would give anything to have it? It's quite simple, really. It's widely believed that when you're popular, you have people's attention. You have power and influence. Girls like you, guys like you…
By: Doug Johnson in  Relationships  >  Friendship   Nov 23, 2011  
0
  Likes: 1

You Will Always Succeed at What You Value
Have you ever noticed that the majority of the time you succeed at anything you put your mind to. Actually it goes a little further then that. We succeed at the things that we put our thoughts, feeling and actions behind if we just keep working at it. I will…
By: keegan burkholder in  Self Improvement  >  Achievement   May 05, 2011  
0
  Likes: 4

How Home Canning Keeps Your Food Budget Low
Home canning is an excellent way to stretch your food budget. Buy the food in season when the prices are the cheapest (and the food is the tastiest) or grow them yourself at home and then preserve them through home canning. Saving Money With Home Canning First, let's discuss what…
By: AJ in  Finance  >  Budgeting   Jul 24, 2012  
21
  Likes: 7

Strategies for Coping With Stress
There are lots of different reasons why someone might feel stressed including a poor relationship, problems at work, not enough time, caring for a sick child or adult, financial worries, illness, unemployment, threat of redundancy ... and so it goes on. Because we accept that a certain amount of stress…
By: BIS_Coach in  Self Improvement  >  Stress Management   Oct 21, 2011  
0
  Likes: 0

Applying Affirmations As A Coping Mechanism For Stress
Are you constantly feeling under pressure and stressed? Does it seem like no matter what you try you'll never rid yourself of stress? If this is the case then you may want to consider applying affirmations as a coping mechanism for stress. Affirmations have proven to be one of the…
By: Ricky O' Shea in  Self Improvement  >  Stress Management   Apr 13, 2013  
0
  Likes: 0

Reduce Everyday Stress By Managing Your Life
When people are experiencing high levels of stress they often put it down to circumstances outside their control, such as a poor situation at work, struggling financially to make ends meet, or coping with a relationship that is falling apart. Feeling overwhelmed and impotent to change a situation is incredibly…
By: BIS_Coach in  Self Improvement  >  Stress Management   Nov 18, 2011  
0
  Likes: 0

What Causes Us Stress?
You know what it feels like to be stressed. You may have experienced the rapid heartbeat, tense muscles, and sleepless nights that are often brought on by stress. What causes you to experience so much stress, though? One thing that may stress you out is financial worries. You may worry…
By: Hollie E. Townsend in  Self Improvement  >  Stress Management   Jan 22, 2012  
0
  Likes: 0

Auto Insurance Frisco Tx: Three Ways to Save Money
The simple fact of life is that you will need auto insurance Frisco TX if you drive a car. Auto insurance will save you any out-of-pocket expenses if you are involved in an accident. Additionally, most states require the driver to have insurance in place to legally operate a vehicle.…
By: Ellen M. Hahn in  Finance  >  Budgeting   Mar 17, 2016  
0
  Likes: 0

Avoid Temptations While Learning How to Budget and Save Money
Learning how to budget and save money is critical to the success of your financial future. You need money to survive in this world. Not only do you need money for everyday living expenses, but you should also put aside some for retirement or for backup in case of job…
By: Rod Sanders in  Finance  >  Budgeting   Mar 07, 2011  
0
  Likes: 0

Money And Family Values
Money is essential. I grew up in a traditional middle-class home; my father had a job and my mother stayed at home. Over the years, I have spent a great deal of time and money trying to figure out why I was not making more money. I believe that I…
By: Adrienne Scott  in  Finance  >  Budgeting   Jan 04, 2012  
0
  Likes: 0

Dressing Your Teenager On A Budget
Back to school shopping is coming soon. As a parent of teenagers, I used to dread this time of year. We would spend so much on clothes that are just going to go out of fashion in a few months. After years of this, I started to develop a method…
By: Mila Reeter in  Finance  >  Budgeting   Aug 22, 2011  
0
  Likes: 0

Budgeting That Makes Sense
Budgeting does not have to drive you crazy or cause you to feel like you're in a vortex. Sometimes it is the small steps we take that create a big effect, so here are some tips to help you trim your budget without making you feel like you’re in chains.…
By: Jean Dewitt in  Finance  >  Budgeting   Jun 01, 2011  
0
  Likes: 0

Budgeting for the Future
In life the people that run into the most trouble are the people who have no real plan. The other day I asked my friend if he was making $5,000 / month what would do with it or how would his life change. He reported he’d get a new bedroom…
By: Koko Ishe in  Finance  >  Budgeting   Jun 08, 2011  
0
  Likes: 0

Taking Care Of Your Finances
You do not want to be one of those guys who does not take care of your finances because the world is one big vacuum waiting to suck up the careless, the person void of wisdom, and the person who does not plan well. In Proverbs chapter 27 verses 23,…
By: Koko Ishe in  Finance  >  Budgeting   Jun 02, 2011  
0
  Likes: 0

How to Budget And Keep Your Sanity
Is budget a dirty word to you? Do you think of it as too restraining and a bit of a fun-killer? If so, you may want to rethink that, because making a budget and living within its boundaries can give you a whole new lease on life, and more than…
By: Jean Dewitt in  Finance  >  Budgeting   May 31, 2011  
0
  Likes: 0

Article Views: 3713    Report this Article