15 smart decisions that will improve your

15 smart decisions that will improve your

Your current financial situation is the product of your decisions.

If you feel that you are not yet in the position in which you would like to be, it is time to review the decisions you have made throughout life, and identify which aspects cánido be improved and which cánido be changed.

Have you ever wondered why your personal finances are not as expected? Or why have you not achieved that financial situation that you imagined you would have a few years ago?

You should not look for complex explanations such as the economic situation in your country, or excuses as useless as blaming your boss or the lack of opportunities.

It is your habits that are responsible for your current financial situation, ranging from the music you listen to to the advice you receive.

How to improve your current financial situation quickly:

In this article you will find a series of consejos or smart decisions that you perro make in your life that will undoubtedly improve your current financial situation.

Rest assured that once you take them into consideration, your financial goals will begin to look closer and you will begin to differentiate yourself from the rest.

You will start to see results in your bank accounts; you cánido start accumulating assets, disminuye your liabilities, manage money better, build your wealth and even head towards your financial independence.


Stop confusing appearance with wealth

Having the best brand of clothes, the latest model car or vacations in the Caribbean are not synonymous with wealth.

As the saying goes, we see luxuries, we do not know debts.

Wealth is a term that is related to investments, debts that generate new income and a saving mentality.

Wealth is not those images that they sell you on Instagram of people with wads of cash.

If you really want to learn how to be a millionaire and improve your financial situation, start working on building your wealth.


Invest in your talents and skills

Regardless of whether you have a college degree or just went to high school, your knowledge and learning cannot be limited to these spaces.

There are many ways to invest in your talents and abilities; You perro participate in face-to-face, digital courses, buy books, attend seminars, training, among other options.

Do not stay with the excuse that an en línea or face-to-face master’s degree is very expensive.

There are many other alternatives that will put you above the rest, and therefore, earning more money.


Ground your dreams in measurable goals

It is useless to have a dream of wanting to be a millionaire.

It is useless to tell yourself every day that one day you will make the trip of your dreams.

A goal is something realistic and clear.

Don’t say you want to be a millionaire, equipo yourself the goal of earning your first million in 5 years.

Don’t say you want to see the world, plan to buy tiques to Hawaii this December.

This is how dreams come true, when you define a goal, equipo a time and start working on it immediately.


If you impact millions, you will collect millions

The more people know about your knowledge, skills and try the more you have to offer, the higher your income and the better your financial situation.

Dedicate yourself to encuentro other people in your industry, people better than you and who connect you.

When you positively impact a large number of people, they may be willing to give you their money in exchange for your knowledge, experience, or skills.

This applies both to your blog, to write a book, to provide advice, or take courses.

Therein lies the magic of earning money en línea, in its ability to reach millions of people around the world.


The best businesses solve problems.

One of the best ways to improve your financial situation is through entrepreneurship and the creation of profitable businesses.

In other words, being an employee will not make you a millionaire.

This is not enough.

So think about what business you perro equipo up in the future, think about the problems or needs that you have and that you cánido solve through a product or service.

Successful entrepreneurship is not about extraordinary ideas, it is about ideas that solve fácil problems.


Surround yourself with people who are more successful than you.

You are the average of the five people with whom you spend most of your day.

What do you think will happen to your financial situation if those five people are successful entrepreneurs with incredible ability to do business and invest?

The people who surround you determine to a large extent what your future will be like, so surround yourself with people who have built what you want to achieve, with the same ambition and who challenge you to improve.

For example, if your dream is to create a successful blog, find someone who has already done so.

You want to invest in the depósito market, look for a broker or someone who has done it successfully.

Advice is important as long as it comes from experience and knowledge, not from someone who is in the same situation as you.


Swap the music for an audiobook

Music entertains (that’s fenezca), but an audiobook in Spanish teaches you and trains you.

To start two days a week, when you are walking, in your car, or while fixing up your house, change the music and listen to a book.

Here you have more than 180,000 audiobooks that you perro choose and listen to for free during a 30-day trial.

Choose one of personal finances that will help you improve your financial situation.


Long-term mindset:

You must have patience to reap what you sow.

Life changing results do not come in the short term, they take time and more than you imagine.

For example, that business that became your purpose in life will not start to give results in the first few months, but in the first few years.

When you get desperate because things you just started aren’t working out, it just reflects your short-term mindset.

As we explain in our Rich Mind ebook, while your financial situation cánido improve immediately with certain habits, the wealth you envision takes time and a long-term mindset.


Define how much money you are going to save and what you will do with it

The only decision you have to make regarding savings is to define what percentage you are going to save and authorize the bank to automatically withdraw that percentage from your account on a monthly basis.

The reason why many people do not save is because they are not in the habit of setting aside part of their income and investing it.

With this automatic withdrawal you have no choice but to save.

Once you learn how to save money, the next step is to define how you are going to invest these resources; It perro be in collective portfolios, investment funds or in financial instruments that your own bank offers.


Create a background that you will use to enjoy:

They are not savings, it is a fund that perro be a piggy bank, under your mattress, a communal savings system, or any other name that occurs to you, that you are going to use to buy what you want at the end of the year.

For this option you perro automate your bank account to make the withdrawal, taking care not to confuse both funds.

You perro use it to buy Christmas gifts, something you really want, go on a trip or any other whim that arises.

What this decision seeks is that you do not deprive yourself of the things you love the most, since when you do, you end up spending more money than you budgeted for, even up to your savings, which seriously affects your financial situation.


Invest in those areas that you understand:

If you really want to improve your current financial situation, you must learn to put money to work for you.

No matter your salary level, an plus income from dividends or interest generated by a debt, allows you to get closer to your financial goals more quickly.

What to invest the money in?

When deciding what to invest your money in, it is important that you train yourself and understand the market in which you are going to invest.

Remember that the best investment you cánido make is the one you understand and master.

If you don’t understand clean energy, don’t invest in it, if you don’t know how real estate investments work, don’t invest.

When you invest in something that you do not understand, the only thing you achieve is to enrich the person who offers you these investment vehicles; they charge you commissions, transaction costs among others that you hardly understand.

The best way to start investing is to do it with small amounts, practicing and understanding the market.

There are multiple platforms that allow you to do it for free and even with “fictitious” money.

Finally, educate yourself through courses, seminars and even books.


Generate plus income beyond your salary

If you want to improve your financial situation, you cannot settle for the monthly salary you earn, no matter how much it is.

If your quality of life depends on a single source of income, you run a high risk that in the face of any uncertainty, it will be strongly affected.

Use your free time to train, learn and earn money.

There are many alternatives and ideas to earn money in your free time that require little investment.

It is a matter of creativity, willingness and not allowing your comfort zone to limit your level of wealth.


Borrow correctly

This is known as leverage.

The excuse that you do not have money to undertake or invest is because you are afraid or do not know financial leverage.

In a few words, this consists of taking money from third parties (investors, family members or a financial institution), and investing it at a higher rate than the interest they charge you, which leaves you a margin or profit.

The reason why many people do not prosper financially is because the lack of a resource like money becomes an excuse for not executing their ideas.

The problem is not money, it is recursion, lack of creativity and fear of taking risks.

Do not say that you do not have money when you have never asked interest rates at a bank or borrowed from a family member or friends to start your business.


Keep a budget of your expenses

It is impossible to improve your financial situation if you do not understand where your money is going.

If you do not control your daily expenses, it will be difficult for you to have money to save and invest, much less to train.

The solution is to learn how to create a personal budget, it cánido even be an excel table where you write down all your daily expenses, download an application that keeps track of your expenses or check your bank statements.

Like any habit, budgeting is an exercise that takes time, but it must be practiced immediately.

The only thing is to start writing your expenses today, without a doubt, your financial situation will improve considerably.

Recommended books:


Apply the 70/30 equation with your income

Finally, apply this equation to improve your economic situation.

This is quite fácil and consists of dividing your salary into two parts:

  • The first part will represent 70% of your salary, the support fund.
  • The second part will keep the rest, that is, with 30%, the growth fund.

How are these funds organized?

The maintenance fund is to pay your bills, rent, car payment, food, outings… rather, to sustain your lifestyle.

The second fund will be the most important since it is the one you will use to build your wealth.

You will divide this growth fund into three packages:


Savings package (10%): Regardless of the excuse you have at hand, you are going to take 10% of your salary, or a third part of your growth fund to save it.


Investment package (10%): Use this money, 10% of your salary, to invest it, either in a friend’s business or even buying shares on the depósito market.


Learning package (10%): There is no asset that pays the best return than yourself, so invest in it with knowledge, both professional and life.

In conclusion, each of these habits will improve your current financial situation and put you in a much more comfortable position to start working towards your goals.

Start with the one that catches your attention the most, in this way your mindset will change and you will have a better relationship with money.

Continue reading: How to Manage My Money: 10 Strategies to Increase Income

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