Taking Control of your Financial Situation

Now having spent some time looking into this subject while everyone has different ideas on which is the best vehicle to achieve financial independence (and they cannot agree on what that term means) they agree on two things 1 it starts with a state of mind and 2 you must pay yourself first.

What do they mean by a state of mind? Well it is making a conscious decision that you are in control of your financial situation and no one else. Now this may seem hard to accept when everything is falling down around you. But you and you alone are in control and responsible for your financial situation. This is not a lecture it is meant to show you that until now you were not aware of this. To give an example: you are in a well paid job and have spent and used credit to have a nice house a nice car or two and expensive holidays. Who made the decision to spend the money? Then you are told that your company is closing down and you are no longer required. Who has a care about your debts? Only you and those you owe.


The second point is much less emotive but can be much harder to action. Paying yourself first. This means taking 10% of your gross earnings and putting that into some form of investment, e.g. a savings account or stock and shares. Now a lot you will probably be thinking the same as I did when I first heard this idea “how the …..am I going to get 10% when I can’t even make ends meet now”. Well hopefully over time you will find some of the answers to that question in this blog, as I go through this process myself.

So here are some ideas to get you started.

1 Do you smoke? Now don’t panic I’m not on an anti-smoking campaign, but could you smoke one less a day?

2 Is that chocolate bar from the mobile sandwich van really necessary?

3 Only fill the kettle with enough water for the number of drinks you are making (or to cover the element)

4 got some spare space in your garden why not grow your own vegetables www.growingyourownveg.com has some great ideas on this.