3 Most Important Keys to Achieve Financial Success

Click for The Best Collection of Kindle Fire HDs What defines financial success has a very different meaning in the current economic climate compared to the halcyon days of easy money just a few years ago, and being able to buy almost anything you wanted seemed relatively easy. We are in a new era of rising costs and you need to be even smarter with your money than ever before. Here are some key points to bear in mind that will help you achieve your goal of financial success.


Financial success to many will mean having enough money to pay their regular bills and also having enough to live comfortably when they retire. The only secure way that you are going to have a brighter financial is by planning ahead. You must sit down and define your specific goals for the next 5 or 10 years and actually work out where you are now in terms of savings and assets. Work out what you currently spend and what amount you would like to have available when you reach your target date. There are a number of free financial planning tools that you make use of and this will be give you a realistic appraisal of what you need to do to make your targets.

A good example would be if you have decided that you need $25,000 to cover your kids wedding expenses, planning ahead and saving $100 per month in a carefully selected stock market investment could well get you that $25,000 within 10 years. Planning like that for a major expenditure is a whole lot easier than scrambling around for the money when your daughter announces her intentions, and a lot less stressful.

Keep Records

You will never be able to stay on top of your expenditure and will not be able to get an accurate picture of your finances if you do not keep financial records. One of the best methods to use would be to download some tracking software on to your phone or computer and just enter your regular payments and any amount you spend before you get rid of the receipt. This very quickly becomes a habit and when you review your financial situation at the end of the month you can very quickly identity where you have spent your money and what you could save on if you need to. It is surprising how your spending on even small items can add up and if you see what you have spent in the coffee shop in a month as a lump sum it can change your mind about picking up a latte on the way to work.


This is the real issue for many people who are on a tight budget and have very little spare money. Even if you do not think that you have any spare funds to commit to a regular savings account, there are normally cuts that you make in your outgoings that you will hardly miss and by putting what you have saved into a savings account, you will quickly start to build up a pot of money. This can be useful in so many ways, not just for your long term wealth, but if you have a short term emergency bill that needs paying that you did not expect, having access to some of your own money rather than having to pay high rates on your credit card, will save you money. Just be sure to put the money back, even if you pay it in over a few months rather like paying off the card but with a lot less interest to worry about than if you had to borrow. Having savings behind you is also has a comfort and feel good factor about it, so make every effort to get this in place and you will be ahead of the game on a number of levels. Financial success does not have to be a complicated task as long as you follow the basics outlined here. The only person who can definitely influence your financial future is you, so the sooner you take control and take action, the brighter your prospects are likely to be.

Guest Post contributed by Loraine Heimann. Loraine is a freelance writer with a longstanding career in trading. Her articles appear on various currency and metals trading blogs. Visit wonga.com to find out more about setting up trading accounts.