K is for Keeping Control of Your Finances Makes for a Great Lifestyle

K is for Keeping Control of Your Finances Makes for a Great Lifestyle

We all know we need to be mindful of our finances, but how do we control our finances in order to have a great life? Keeping control of your finances can be different for everyone, and it can be different for different stages of your life. But no matter where you are in life, having a good handle on your finances will help you live a better lifestyle than if you don’t.

Financial and lifestyle choices go hand in hand. You cannot have a good one without the other. Part of having a great lifestyle is having time and space to do the things you love. Whether that is trying a new restaurant every week, or taking a beach vacation every year, sometimes it takes money to do the things you love. And while money can not buy happiness, being comfortable and having an enjoyable, stress-free life can aid in your happiness. 

According to credit.com 58% of Americans don’t have enough money saved to handle a $1,000 emergency. If a minor emergency can completely derail your finances, you are not in control of them. Having savings for emergencies and some for the lifestyle you are working towards are important steps in keeping control of your finances. 

And while it may seem daunting to start the journey towards taking control of your finances, there are a few simple steps to follow to achieve your best lifestyle.

Find Your Work/Life Balance

Figuring out how to balance what you want out of work and out of life is the best way to have a great lifestyle. And figuring this out is a way to take control of your finances. Knowing the details about how your job fits into your life can help you figure out how to handle your finances moving forward.

Create a Budget that works for you

It feels like it should go without saying, but creating a realistic budget is one of the most important things you can do to keep control of your finances! The keyword here is realistic. It is important to find the appropriate balance between saving and spending to create your greatest lifestyle.

Live Within Your Means

Again, this one feels like it should go without saying. But living within your means is more than just not spending money you don’t have. If retiring early is one of your goals, but you aren’t contributing to a 401(k) or saving money, you aren’t living within your means. Looking at the bigger picture can help you keep control.

Keeping control of your finances can lead to having a greater lifestyle than you could imagine. A little bit of planning and responsibility can go a long way. While these tips are a good jumping off point, talk to a financial advisor to take control of the details.

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