|Written by Priscilla Benfield|
Money doesnâ€™t buy happiness but it does make you feel more secure. Letâ€™s face it, it costs money to live. When you donâ€™t have enough money you can have more stress. Even if you learn how to cope with the stress your life is still not going to be as satisfying when you have constant worries about your finances.
So how do you find financial security? The answers may seem simple but they do take discipline. If you follow these tips you will find financial security. How much you find depends upon how disciplined you are or teach yourself to be. Here are 5 rules that will help you find financial security.
Rule #1 â€“ Live within your means. This is the rule that most people break and it is only when they lose it all that they realize the importance of it.
Living within your means means that if you do not have the cash to buy it, donâ€™t. It means that credit cards are for true emergencies, not for that pair of shoes that you just â€śhaveâ€ť to have. Living within your means means that you stop trying to keep up with the Jonesâ€™ and you do what you can with what you have.
Rule #2- Plan for the unexpected. There are no guarantees in life and if you are prepared for the unforeseen you will fare better than those who live life like there is no tomorrow. Budget your money to allow for a certain amount to go into an emergency savings account. If an emergency arises you will be happy to have money set aside for it.
Rule#3- Stop impulse buying. If you really think about what you are buying and why, you might realize that you do not really need it. For large purchases it is better to shop around, plan for the expense by saving money for it and then purchase it when you find the best deal.
Rule#4- Stop paying for convenience. Laziness costs money. Stopping for a coffee on your way to work instead of making it at home adds up. Ordering pizza instead of cooking a meal is another way to throw your money away. It is nice to treat yourself every now and again but sometimes conveniences become habit and these habits waste a lot of money. Becoming more disciplined about how you spend your money can help you to spend it more wisely.
Rule#5- Donâ€™t put off important things like getting life insurance or saving for retirement. Life goes by quickly when we are not paying attention. Even if you are just starting out, putting aside money for retirement and life insurance is smart to do. No one knows what their future holds. Budget well and plan for your future now.