Tag: Dave Ramsey

Best Ways To Use A Credit Card Responsibly

credit card

Like money, credit cards are merely a tool that allows us to build a financially stable world around us. Most people tend to abuse their power and get into financial trouble. Use it wisely and the investment will be well worth it.

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Welcome to Franknez.com – the blog where you can digest content on personal finance, side hustle ideas, entrepreneurship, and trending investing topics.

Build Your Credit

The best way to use a credit card is to build credit with it. Don’t apply for a credit card to buy things; this will lead you to financial ruin.

By building your credit you show lenders you’re responsible enough to borrow money and pay it back. Paying your credit card on time will boost your credit score which will allow you to qualify for bigger financial goals such as financing a car or purchasing a house in the future. Your future self will thank you for building your credit score!

Keep Your Limit Below 30%

The last thing you want to do is max out your credit card. This will have a negative effect on your credit score, OUCH! High utilization presents a high risk of falling behind on payments to the lender. Minimize the amount used to keep your credit score afloat. Keep your limit at or below 30%. If your credit line is $1,000.00 use up to $300.00 of credit.

Avoid The Quicksand

The moment you act upon impulsive purchases is the moment you give up your financial freedom. These choices will unfortunately result in a cycle of poor spending habits and lead you towards a world most people are trying to escape. Avoid the impulsive purchases, the transaction can wait.

Be careful when lenders increase your credit line. They will first increase it when you’re doing a great job of paying on time. The second time they increase it is a strategy to trap you in the quicksand. Don’t fall for it! Only use the 30% of credit line on the increase if you’re able to pay for it. You do not want to fall behind or make payments on large purchases. You will end up pay the banks money out of pocket due to the interest.

Smart Transactions

Use your credit card for expenses such as fuel, small groceries, misc. purchases for your home (lightbulb, screws, cleaning products, etc.), and in some cases, for an emergency. What all these things have in common is that they’re fairly easy to pay back for. These are perfect small ticket items to help build your credit score.

Make On-Time Payments

Schedule automatic payments in order to avoid late fees. The responsible thing to do is pay your bill on time in order to keep building that momentum that will positively affect your credit score. Late payments never look good to a lender so prove yourself trustworthy and responsible!

Avoid The Interest

Avoid the interest rate by paying your bill in full. Once you start making minimum payments on a credit card your remaining balance will accrue in interest. Remember, a credit card is a tool so use it to your advantage, not for someone else’s.

If you used your credit card for an emergency and can’t pay it in full, close it in two to three large payments. One of the benefits of having a credit card is that if your personal savings have taken a hit, you’re not without temporary help. Be sure to close the credit card, work on your emergency fund, and continue to use it wisely so you won’t rely on it for another rainy day.

On Another Note

Transfer Debt To A 0% APR Card

If you have too much debt on a credit card consider transferring it over to a card with 0% APR in order to avoid the compound interest on it. This will allow you to catch up without any additional fees. Take advantage of not having the interest and reach your goal!

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How To Reach Financial Stability At Any Age

How To Reach Financial Stability At Any Age
You Can Do It!

Financial stability is the 3rd level of wealth according to Dan Lok’s 6 levels of wealth pyramid. It is the level beyond financial dependency (level 1) and financial survival (level 2 ). Financial stability bears a financial stress-free lifestyle but requires definite discipline and planning. If you’d like to find out more about Dan Lok’s 6 levels of wealth be sure to check out the video below. Here’s how to reach financial stability at any age.

https://www.youtube.com/watch?v=is5Dc-NC-14

What Does It Mean To Be Financially Stable?

What is financial stability? Financial stability is the level of wealth when you no longer depend on someone financially, and have essentially stopped going paycheck to paycheck. Financial stability requires that:

  • Your income is greater than your expenses
  • You have anywhere from 4-6 months of monthly living expenses saved up
  • You have no bad debt (high credit card debt, bad investments, etc.)

There is no set income number to reaching financial stability and you can reach it at any age. It does not matter how you make this money or how much you make, but how you manage your money.

E.g.: A person earning six figures a year cannot be financially stable if they are living paycheck to paycheck with no money set aside for an emergency. A person earning significantly less can be wealthier by simply having the discipline to manage their personal finances responsibly.

So How Do You Become Financially Stable?

First, you must truly want to become financially stable. In order to reach financial stability at any age it will require sacrifices involving budgeting, saving, and lots of planning.

Assuming you are not financially dependent on anyone and you work for yourself, you must learn to stop living paycheck to paycheck. This is achieved through gaining a set of skills and financial knowledge from which you can put to use.

In short, you will need to:

  • Look At Your Bank Statements and Budget
  • Increase Your Income
  • Live Below Your Means
  • Increase All Monetary Accounts
  • Develop Winner Habits

We break down in complete detail how to stop living paycheck to paycheck here. Reach financial stability at any age by living below your means and eliminating living paycheck to paycheck.

Write Down Your Financial Goals

write down your financial goals
financial stability

It is important to write down your financial goals in order to materialize said goals. Type them out in a word document or write them down in a journal. Your subconscious mind sees this and allows a lot of powerful and intuitive things to occur in your mind. Working towards your financial goals will become second nature.

Writing down my goals helped me reach financial stability because I was constantly setting goals for myself. Keep planning and keep writing down your goals.

Read: How To Set Financial Goals: 10 Simple Steps!

Be Ready To Leave Your Comfort Zone

The comfort zone is where all dreams and goals die. Be prepared to leave your comfort zone if your goal is to reach financial stability. This step will require you to ditch the habits prohibiting you from reaching your financial goals.

If you want to reach financial stability you will need to develop some habits you might not like at first. This means delaying gratification to meet your future goals.

Read: Why Your Comfort Zone Is A Failing Formula

Take Action To Manifest Your Financial Vision

Begin to set things in motion by taking affirmative and disciplined action. Stick to your budgeting plan and keep working towards eliminating unnecessary expenses while earning extra income to pay off debt. Think in terms of weeks and months. Look at the progress you make at the end of every week and every month.

Learn to reach financial stability at any age by continuously taking action towards achieving your goals.

Take action every day and you’ll grow every day.

frank nez

Let Your Goals Motivate You

Record your progress to boost your motivation. This helps to visually see how much closer you are to accomplishing your goals. Motivation is at its highest in the beginning and may begin to settle as time passes. When it begins to subside, remember why you started in the first place.

The process will take time. Remember, one step is one step closer to achieving your goals. Reach financial stability at any age by staying motivated throughout your financial journey.

Some ways to stay motivated include:

  • Watching successful mentors on YouTube
  • Reading self development books
  • Following motivational pages on social media
  • Maintaining focus on your aspirations

Reaching financial stability requires you to ditch old habits and gain new ones.

Read: 6 Money Habits You Can Develop to Win Financially

Continue To Learn Throughout Your Journey

Another great way to stay motivated throughout your journey to reach financial stability is to never stop learning. Continue to educate yourself while you take on this amazing responsibility.

There is a lot of great content on YouTube from which you can gain new perspective and knowledge from. Some of our favorite people include Dave Ramsey (saving), Grant Cardone (motivation), & Andrei Jikh (investing). You will find loads of content that can benefit you when you envelop yourself with financial betterment.

Franknez.com writes a lot of content relating to your financial benefit. We take pride in helping our readers become financially confident.

Tip: Learn how to reach financial stability at any age by learning from all type of successful people.

How Do You Reach Financial Stability At Any Age?

You reach financial stability when you decide to become financially literate. Financially literacy is the understanding of managing your personal finances responsibly.

You can only fathom financial literacy if you have the willpower to seek the knowledge. You must truly want it. No amount of money greater than what you currently earn can make you become financially stable. However, it can certainly become a tool to help you reach financial stability.

Every post on Franknez.com plays a dedicated role to working towards and building your financial future. Reaching financial stability is a mix of several habits you must learn to develop before attaining this level of wealth, just like any other level of wealth.

Financial Stability Is A Mental Stability

Mental stability manifests financial stability due to a variety of factors of which include:

  • Discipline
  • Planning
  • Desire To Learn
  • Commitment
  • Time
  • Sacrifice

This level of wealth is where you decide it’s time to change your life. It’s when you stop doing a variety of things that were holding you back and focus on taking control of your destiny.

In other words, it’s when you replace your bad habits with developed winner habits. Only you can truly decide financial stability for yourself.

If you found value in this post comment below and let us know how you’re taking the necessary measures to reach financial stability! Kuddos for being here today.

Read: How To Stop Living Paycheck To Paycheck (For Good).

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How To Better Prepare Yourself For The Next Recession

How To Better Prepare Yourself For The Next Recession

It is never too early to begin preparing for an economic downturn. What you do today can save you tomorrow. If you weren’t prepared for the coronavirus disruption be sure to also share this with a loved one. Here’s how to better prepare yourself for the next recession.


Pay Off Big Debt

One way to better prepare yourself for the next recession is to pay off big debt. Paying off debt will reduce the amount of monthly payments you have which will result in having more funds available to save or invest.

Pay Off Big Debt To Better Prepare Yourself For The Next Recession

Paying off debt also lifts the weight off your shoulders knowing you don’t owe any parties anything. Pay off your vehicle or any open credit cards. If you have a lot of debt find out what strategy we suggest using when it comes down to paying thousands in debt here.

Have An Emergency Fund

Have An Emergency Fund

Having an emergency fund is one of the single most effective ways to better prepare yourself for the next recession. Think of your emergency fund as a net from which you can fall on should things disrupt your plans. Recessions can lead to several hardships including the loss of a job or business. Having an emergency fund allows you to have access to capital in the event that the worse case scenario occurs in your financial world.

If you’re stuck on exactly how to create an emergency fund read about how to start it here. Franknez.com walks you through on creating a goal and then having your savings work for you so that your money multiplies through compound interest.

Our mission is to provide our readers with real world experience and advice to help further their financial knowledge and secure their financial future.

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Live Below Your Means

A great suggestions as to how you can better prepare yourself for the next recession is to live below your means. So what exactly does it mean to live below your means?

To live below your means is to live significantly below the threshold of your annual income.

Living below your means allows you to have financial breathing room. As a result, you’re able to save more money and increase the amount dedicated to your emergency fund. Here are some ways on how you can live below your means:

  • Downsize your home if you don’t need the ‘excess’ space.
  • The new vehicle can wait (practice delayed gratification)
  • Don’t over-indulge in jewelry or high fashion clothing (there’s a time for it)
  • Have less takeout (keep it in moderation – set a budget)
  • Resist the new gadgets – make due with the current (for now)

When you live below your means you essentially grant yourself access to manageable monetary means. Prepare yourself for the next recession by eliminating the stress of going paycheck to paycheck.

Continue Budgeting

Budgeting Will Help You Prepare Yourself For The Next Recession

Budgeting in general is a great winner habit to have. Budgeting long-term will help you achieve your savings goals and keep you living below your means. A great way to keep track of your expenses is to frequently log in to your bank account(s) and build awareness of where your money is going. We also suggest downloading the app MINT by Intuit. It tracks down your expenses and keeps record of all your accounts. It makes it super easy to keep quick tabs on your accounts.

Don’t Depend On One Source Of Income

What occurs when you depend on one source of income and then all of a sudden it’s completely gone or cut in half? This is what happened to 22 million Americans who filed for unemployment during the coronavirus pandemic.

Develop Multiple Sources Of Income To Protect You During A Recession

Learn to better prepare yourself for the next recession by acquiring additional skills and knowledge and learn how to create more than one source of discretionary income. Franknez.com has posts on how to start an online business and grow it, how to earn passive income, how to start a blog, side hustle ideas & so much more. Be sure to subscribe to our newsletter to be notified when new posts are published!

Prepare yourself for the next recession by generating income from a variety of sources.

Tip: By acquiring multiple sources of income you ensure yourself financial growth and financial security.

Develop A High Income Skill

Prepare Yourself For A Recession

What does it mean to develop a high income skill? This means earning a promotion, developing skills to attract higher paying opportunities, selling more, or becoming involved in anything that will increase your current income.

By increasing your income you gain monetary means to pay off debt and save money for a rainy day. This is a great way to prepare yourself for another worse case scenario such as a disastrous recession. If it becomes too difficult to develop multiple sources of income or it’s not within your time limitations to do so, developing a high income skill can certainly be a great way to compensate.

Tip: Do not spend more as you earn more.

Be sure you continue to live below your means as you increase your income. You will have breathing room and gain the confidence to face any financial challenge that comes your way. If you find yourself in need of motivation we suggest reading 10X by Grant Cardone. This book discusses how you can increase your income and meet your goals by essentially putting in 10X amount of effort in everything you do. Grab the book here.

Choose Your Industry Well

Choose A Good Industry To Become Recession Proof

One way you can better prepare yourself for the next recession is to choose your industry well. Take a look at the industries that thrived during the coronavirus pandemic vs the ones that didn’t. This is a sure way to identify which sectors are a ‘safer’ career choice.

Industries that thrive during recessions include:

  • Healthcare
  • Logistics
  • Accounting
  • Biotechnology
  • Automotive
  • Economists
  • Utility Companies
  • Funeral Services
  • Veterinary
  • Courier / Freight
  • Telecommunications
  • Online Businesses

Become recession proof by choosing a great career that won’t die down during an economic distress.

Increase Your Credit Score

Increase Your Credit Score To Prepare You For A Recession

The people who are getting approved for 0% APR credit cards and for home loans are those with a great credit scores. Keep in mind, recessions are also the time to learn how to identify new opportunities. Qualifying for an affordable home while the market is low could be your time to make that move; it might not. Perhaps a 0% APR credit card can help eliminate other credit card debt and help you further your personal finances. A high credit score opens opportunity, even during a recession. Start building your credit now; your future self will thank you.

It would be wise to prepare yourself for the next recession by increasing your credit score due to the opportunities that open up with credit. Read: How To Increase Your Credit Score | Reach Excellent.

Diversify Your Investments

Another tip on how to better prepare yourself for the next recession is to diversify your investments. Don’t keep all your eggs in one basket. Franknez.com has posts on how to earn interest from a high yielding savings or money market account, how start an online business, and how to invest in the stock market step by step!

Franknez.com teaches many ways you can diversify your income!

Diversify your investments by allowing your money to work for you in a variety of ways without you having to put up with much maintenance. This strategy will require you to take some personal risks though it isn’t as scary as it actually sounds! Risk plays a big part in securing your financial future. Prepare yourself for the next recession by learning this important wealth building skill.

Here are some ways you can prepare for a recession by diversifying your income:

  • Move money into a market or high yielding savings account
  • Build a portfolio with index funds and ETFs (stocks)
  • Set money aside in a personal savings account
  • Stack your checking account

Read: How To Invest In The Stock Market (Step by Step)

Understand The Importance Of Networking

Learn to identify people of value who can play an important role in your life when it comes to health, career, finances, mentorship, and partnerships. It is important to build relationships with people in these categories because they become connections. These links of relationships are known as a network.

Networking Will Help Prepare Yourself For The Next Recession

Better prepare yourself for the next recession by building a strong network as it can prove useful during the times of hardships. If you lose your job you might know someone you networked with who might be able to help. Whether its recommending you to an employer or even going to the greater lengths of personally hiring you, networking opens opportunities.

Subscribe To Our Newsletter!

Please subscribe to our newsletter if you find value in our content! We are here to help you make great financial decisions in order to help you secure your financial future. Let us know what you’re doing to become recession proof. If you have other tips on how to better prepare yourself for the next recession please share with our readers!

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How To Stop Living Paycheck To Paycheck (For Good)

How To Stop Living Paycheck To Paycheck
Lets reach financial freedom together

We’ve been there. You want to save money but somehow it seems to be more difficult than it should be. Most importantly, you’re taking care of your expenses but have very little leftover before the next paycheck. As a result, you’re holding out until the next pay day. What if you never had to worry about living paycheck to paycheck again? The great news is that it is absolutely possible. Here’s how to stop living paycheck to paycheck (for good).

Look At Your Bank Statements & Budget

It is very important to know what you’re spending your money on. Look at your bank statements to see where you may begin to set limitations and write them down. Budget the amount of money you spend on eating out, on games or music, online shopping, etc. This will vary for each individual.

Cutting back on expenses will allow you to gain control of your routines and habits in order to pocket extra cash in case of any emergency.

Increase Your Income

There are many ways to increase your income. You may work for a promotion or raise, or take up a side hustle to earn extra money. For instance, by earning an additional $100-$300 a month will mean you’re up $50-$150 bi-weekly before the next paycheck. The catch here is to not fall into income creep lifestyle. Otherwise, you won’t be able to execute this properly.

Beware Of Income Creep

Income creep is when one lacks the will to retain spending additional income after a raise, sale, promotion, etc. As a result, you continue to live with the stress of never having enough. Income creep is the reason why people earning six figures a year also live paycheck to paycheck. If you continue to add or create more expenses as you earn more money, you will be stuck in this quicksand; a never ending loop. Delay your gratification and your future self will be glad you did!

Live Below Your Means

Living below your means is the responsible and most effective way to manage your personal finances. We’ve learned that this strategy goes hand in hand when you increase your income as they compliment each other very well.

So what does it really mean to live below your means?

To live below your means requires you to not increase your standard of living (bigger car, bigger home, etc.) as your income increases. Living below your means allows your expenses to stay relatively the same which opens opportunity to save money and invest it as well.

As you continue to practice these winner habits, you will gain an intuition and an understanding of when it is best to increase your standard of living. In the mean time it is very important that you learn how to stop living paycheck to paycheck first.

Increase All Your Monetary Accounts

The privilege to stop living paycheck to paycheck will depend on how well you manage your monetary accounts. As a result of implementing these strategies (budgeting, earning more income, and living below your means), earnings will roll over in your checking account due to the money consistently being replenished. By disciplining yourself to stay on this path, you will no longer be living paycheck to paycheck.

Stack the amount of money in your checking account in order to gain access to funds from which you can save and invest. In other words, increase all your monetary accounts. Tip: Pool money from your checking account into several accounts that will allow you to earn more income passively. More on that below.

If you’re curious on how to invest money in the stock market, check out this amazing post here. We walk you through step by step.

Other Means Of How To Stop Living Paycheck To Paycheck

Downsize

Stop living paycheck to paycheck by cutting back on rent and allow breathing room to save money by downsizing. Make an effort to seek the best options regarding your long-term success. Delayed gratification will come a long way.

Pay Off Debt

By paying off debt you open up opportunities and have a chance at experiencing financial growth. If you pay off a credit card, you no longer have to worry about the monthly expense. Say you owe a small amount on your vehicle. Get a payoff quote and eliminate that expense. By freeing up this money, you can beak the monthly payment into segments and pool it into checking and savings. Stop living paycheck to paycheck by eliminating payments to lenders every month.

Generate Passive Income

Generate passive income so that your small bills are paid. What if I told you the interest you earn in a money market account can literally pay your monthly Netflix subscription? We published a post on 5 guaranteed ways to earn passive income that will help you learn more so that you can take care of your bills without tapping into your earned income. Stop living paycheck to paycheck by earning extra cash on the side.

Make It A Habit

Make it a choice and a habit to stop living paycheck to paycheck. After all, it’s in your power. Implement these strategies in order to change your life and begin feeling what it is to truly be financially free. Go back in time today and secure your financial future!

How To Stop Living Paycheck To Paycheck

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How To Earn Money During The Coronavirus Lockdown

How To Earn Money During The Coronavirus Lockdown

There is often opportunity during hard times. Many of us are experiencing a lockdown due to the Coronavirus. The best thing we can do is stay safe, alert, and continue on the path to financial success. Here are several ways you can earn money at home during the Coronavirus lockdown.

Don’t forget to subscribe to our newsletter!

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1. Teach A Language

Earn Money By Teaching A Language

If you’re bilingual you can spend a good amount of time teaching others around the world how to speak a new language. Many people are going to be looking for ways to spend their time during lockdown. Many of them will want to learn. Organize the way you’d like to begin teaching the language.

Teach by using Fiverr.

People all around the globe are looking for highly skilled users to gain value from. Use this platform to help others increase their knowledge and skills while getting paid for it.

2. Tutor Children

If you’re a teacher or tutor, this will be a no brainer. Teach the young ones how to read, write, and add and subtract through online classes. A lot of schools are closed and will remain closed for the remainder of the academic year. We will need teachers and tutors to keep improving our children’s education.

Earn money online during the lockdown by tutoring using Fiverr.

Yup, Fiverr is the platform to teach pretty much anything online!

3. Instruct Your Profession Online

If you’re a medical instructor, a financial advisor, a tax preparer, a realtor, a professional musician, and can teach anything in your profession, instructing online can be a great way to earn money during lockdown.

Find ways to share your knowledge with others. Remember, now is the time to step out of your comfort zone in order to secure your finances during these times.

Fiverr allows you to make this possible. Create your account right this moment so can begin offering the market your expertise and knowledge from the comfort of your home!

4. Cooking Tutorials

People are going to be home longer. Many have stocked up on comfort foods that will last longer than your average meals. Sell your ideas online if you have a knack for the culinary arts. Create a channel and grow your audience. Take pictures of your finished dishes and link them to your tutorials online. Monetize your platform in order to earn money from your viewers during the lockdown.


5. DIY Videos

DIY videos can be another creative way to earn money online during the lockdown. Choose a platform where you can share loads of DIY videos and monetize your platform through ads. Get creative and present valuable information in order to grow your audience.

Read: 10 Successful Ways To Save Money During A Recession

6. Create Content

Make money from home creating content

Content creators are usually entertainers. If you love to entertain people this could be a great way to earn money during lockdown. YouTube can be a great platform for your content.

People are already earning money with YouTube through video game tutorials, movie reviews, vlogs, music covers, etc. Get creative with this and have fun with it! Focus on trying to get people’s attention away from the Coronavirus, bring us back to normality just for a little.

Other ways of creating content include building websites, creating apps, and podcasting!

For blogging we recommend using Bluehost, one of the top recommended providers by WordPress.org. Bluehost powers over 2 million website worldwide and you can get a discount when you sign up using the link here.

7. Earn Money During The Coronavirus Lockdown With Surveys

take online surveys to earn money during the coronavirus lockdown

Earn money during the coronavirus lockdown with online surveys. Online surveys can be a good source for earning a little bit of cash on the side. Websites pay you for completing surveys and reviewing businesses. This is a great way to support local businesses while getting paid an extra buck to provide your feedback.

Check out our ‘Side Hustles’ tab for more ways you can earn money on lockdown.

8. Sell Your Talent

sell your talent to make money during the coronavirus lockdown
Earn money during the coronavirus lockdown with DistroKid

If you’re an artist, focus on earning money through your talents. Find ways to make your art or music reach more people by marketing and selling online.

You can earn money from streams using an online distributor such as DistroKid. DistroKid distributes your music on all major platforms including Spotify, Apple Music, Amazon, Napster, Pandora, & TikTok just to name a few!

Sell more online!

Sell your artworks online. Many people look for album covers, business logos, and designs to increase the value of a product or service. Use your talents to create amazing pieces of art and sell them online.

Read: 7 Easy Ways Millennials Can Start Earning More Money

9. Rent Your Space

Rent storage to make money during lockdown

A passive way of earning money during lockdown is to rent your space. Get paid to rent out the space you don’t use to people who need it. This may include a garage, shed, or driveway for storage.

Be that alternative storage people can save money with while you make an additional income providing the service.

Conclusion

With the Coronavirus affecting the way work today, it is important to adapt to these changes with a positive perspective on things.

We might just end up coming out of this much more stronger and successful than ever. Keep setting goals for yourself, and remember that tough times don’t last, but tough people do.

Read: How To Protect Your Income | The Coronavirus Lockdown

Extra: For My Sales People

Reaching The $10K Mark - Sales

If you’re in sales, we understand this economic downturn has greatly impacted the performance in your career. This is why we’d like to share this eBook with you.

In this short story, I break down the challenges faced during the struggle to reach the $10k mark. A goal that whenever was within reach would dissipate due to unforeseen circumstances.

The pushback has been described as crashing waves that eventually led to being washed ashore. This inspiring and motivating eBook captures the world of every aspiring seller striving to make it big in their sales career.

It’s incredible how many people can relate to Reaching The $10K Mark. Sales can be intimidating and I think we all share the same struggles on the inside in very unique ways.

Frank Nez

Read about how perseverance overrides adversity here

Let us know about your experience making money during the coronavirus lockdown below. Which one of these ways are you implementing in your life. Have you found other ways to earn money from home? Let our readers know below!

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10 Signs You Have What It Takes To Be Successful

Just because the 1% are super successful it doesn’t mean you have a 1% chance at success. Success is accomplished through numerous small goals that accumulate throughout your journey. Here are 10 signs you have what it takes to be successful in life.

#1. You Like To Serve

You genuinely like to serve others. By serving others you offer a service or product in which the consumer can benefit from. You understand the importance of making yourself very valuable in order to serve as many people as possible to gain trust and business.

The most successful people serve large masses of people.

#2. You Learn From Your Failures

You understand that failure is merely but a lesson to learn from. Without failures we cannot gain experience. Without experience we cannot grow. You’ve had your shares of failures and have accepted your losses but you have also recognized the cause for those failures. Your newly found knowledge to prevent such failure comes from the experiences of failing themselves. Unlike most people, you aren’t afraid of going through this learning experience in order to become a more successful version of yourself.

#3. You Have Perseverance

Perseverance is the will to consistently do something despite difficulty or delay in achieving success. In other words, never giving up no matter how long it will take, or how difficult attaining your goal will be. You want it and you’re going to have it. You don’t stop, you work for it until you achieve what you set your mind out to accomplish. Your courage is what sets you up for success.

#4. You’re Goal Oriented

You’re setting goals in your life for every aspect of your world. You’ve set goals in your relationships and career. You have a big picture in mind so you break it down by setting numerous goals that will take your lifestyle to another level. This level of thinking is almost second nature. You understand that it’s a huge part of your journey to living a successful life.

#5. You’re Accountable

You take responsibility for all of your actions. You assume control of every situation and are on top of your game. There is no room for excuses because you understand the delays in time and personal growth they cause.

#6. You’re Open Minded

Successful People Are Open Minded

You’re open to seeing through the perspective of other peoples worlds. This insight allows you to understand what others need, what they want, and how to provide it. You’re open to working with all types of people and businesses. You understand that your success relies heavily on networking and building amazing relationships.

#7. You’re Very Self-Aware

You’re in tune with your inner-self and are highly conscious of your thoughts and actions. You understand there’s always room for growth and look for ways to improve your way of thinking in order to attain success. You’re aware of your surroundings and have a great sense of accomplishment which attracts the things you want in life.

#8. You Don’t Procrastinate

Successful People Don't Procrastinate

Procrastination makes you feel lazy so you avoid it. You tackle your tasks and check mark your goals rather quick in order to move on to the next project. You’re organized so you don’t like to fall behind on anything that will cause delays or unnecessary interruptions. Successful people don’t procrastinate.

#9. Delayed Gratification

Delayed Gratification Makes You Successful

Delayed gratification is holding off on immediate reward and enjoying it later. It’s understanding long-term investment yields the highest rewards. By delaying gratification you demonstrate a strong level of discipline and self control most people cannot fathom. Success does not occur overnight and you are will to sacrifice celebrating now in order to make the most out of it later.

#10. Confidence

Confidence Makes You Successful

You know you’re going to attain and attract everything you’ve ever wanted. You have this confidence in everything that you do and you don’t ever question your abilities. The knowledge, experience, and will to take action will no longer fail you and you will continue to succeed over and over. Your confidence is a statement, an affirmation, and a sign you have what it takes to be successful.

Read:How To Advertise Your New Business For Organic Growth

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Debt Sucks | Here’s How To Pay Off Thousands In Debt

Debt Sucks Here's How To Pay Off Thousands In Debt
Stress free view

Whether you’re in debt with credit cards, student loans, car notes, or house loans, we all have some form of debt. The thought of paying off your debt might seem stressful at first but imagine what a debt free life could mean for you.

Debt keeps us from saving money, investing it, and reaching financial freedom. So what’s the best method to eliminate debt?

The Snowball Effect

Payoff Debt With The Snowball Effect
Snow!

There are a few proven methods to paying off debt. We favor the snowball effect method due to its quick momentum and effective results.

This is how it works

You start by paying down your smallest accounts first while making minimum payments on the rest of them.

The approach is to eliminate your smallest debt aggressively. Once you’ve paid off your smallest account, rollover that payment onto your next account.

By the time you’re paying off your third account, the amount equivalent to your monthly payments from the first two will have a drastic effect moving forward on your outstanding balances.

Avoid This Mistake To Stay Debt Free

Avoid Income Creep to stay debt free
Don’t spend more as you earn more

In order for the snowball effect to build momentum ,you must be consistent and not divert from rolling over once your first debt has been eliminated.

Most people will fill in the space with something else once they’ve paid off their car or credit cards for example. This spending habit pulls you back to a never ending cycle.

Remember, once you’re debt free all that disposable income is yours to enjoy. Save it, grow it by investing, and enjoy it!

Don’t let income creep lifestyle keep you from reaching your financial goals. This is how people making six figures a year can be in financial ruin just as much as anyone making five figures.

Read: How To Set Financial Goals: 10 Simple Steps!

Generate More Income To Tackle Debt

Generate more income to tackle debt

Everyone has very different financial situations or worlds. Create a world where you’re earning a little bit more than what you were in order to apply this additional income towards your debt.

Check out “These Are The Best Side Hustles For Millennials in 2020” to read about the best side hustles that can earn you additional income this year to make it happen.

Continuously work towards earning more income to payoff your debt more aggressively. The sooner you payoff one debt, the sooner you can move on to the next while eliminating accruing interest.

Create A Budget

Create a budget to tackle debt

See what areas you could budget on and apply money that was going towards junk food, streaming services, and other non essentials, towards your debt. You’d be surprised at how much you can save a week by meal prepping instead of eating out daily.

Write down your expenses and see where you can cut back. This strategy will help you not only develop a winner habit but play an important role in your journey to a debt free life.

Mint is a great app that breaks down your expenses and allows you to have an overview on all your account balances.

It Takes Discipline

The fact that you’re here shows your willingness to make this incredible change in your life. Financial freedom is an amazing experience we all deserve a chance to.

Realistically, only by taking the necessary actions to see our goals through will we truly reach a debt free life. It’s time to live in the moment and focus on the things that truly matter to us the most. Be consistent, stay on top of your goal, you have the power to do this.

Read: 10 Successful Ways To Save Money During A Recession

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