Top ten financial Habits you can do!

1. Check your bank accounts every day.

Make it a habit to check on your bank accounts at least once a day. It will only take a minute to see if anything has changed or if something has gone wrong. With modern computers and technology it is easier than ever to be aware of what is happening with your money.

2. Set up an automatic Debt order

Set up a debit order from your current account, so that a percentage of your money goes directly into a savings account or investment. This will ensure that you are able to start building up sizeable savings to buy more expensive items like a car or a house.

3. Adopt a spending plan

Plan on what you would like to purchase in the next few months and change your spending habits to accommodate your goals.

4. Share your goal with a friend

There is nothing better than sharing and achieving a difficult goal with someone you care about, which will motivate you and encourage you.

5. Try to stick to your goal.

Once you have your goal insight try to stay on course to achieve it.

6. You deserve more

You are allowed to improve your life and make your life better. The only way you can do that is by working hard and being smart with what you have. Small steps end up being giant leaps forward.

7. Make a list before you shop

Before you go out to shop. Have a plan of what you would like to buy, this way you are more likely to stick to what you intended to buy and not buy unnecessary products.

8. You are allowed to buy something that brings yo happiness

Just becuase you are trying to save money doesn't mean you have to live like a pauper. you can still buy things that you enjoy but just in moderation.

9. Stop Impulse Buying

This buying products on a whim. If you see something you really want but haven't planned for, wait a little bit. Think about it and if after a while you still want it then decide if it the best purchase for you.

10. Plan long term

Every purchasing decision you make must have your long term vision and goal in mind. Sometimes it is hard to give up something in the present for something better in the future.

Ferrucio was originally a farmer who made tractors. His business was very successful and he was among the wealthiest men in Italy. He owned a Ferrari among other super cars. His Ferrari used to give him constant trouble. As he was a mechanic, he tried to fix the problem and found out that his Ferrari had the same clutch as used in one of his tractors.

 “All my Ferraris had clutch problems. When you drove normally, everything was fine. When you were going hard, the clutch would slip under acceleration; it just wasn’t up to the job.”

Ferrucio went to the Ferrari service dealership regularly to have a clutch rebuilt or renewed, and every time, the car was taken away for several hours and he was not allowed to watch it being repaired. The problem with the clutch was never cured, so Ferrucio decided to talk to Enzo Ferrari himself, the owner of Ferrari.

‘Ferrari, your cars are rubbish!’ Ferrucio complained. Enzo Ferrari was furious. “Lamborghini, you may be able to build a tractor but you will never be able to build a better car.’ 

This was the point when he finally decided to make his perfect car - The Lamborghini