How to Control Your Debt and Grow Your Net Worth Tips

Unfortunately, being in debt is something many people can relate to and living paycheck to paycheck is more common than not. The types of debt many struggles with been wide-ranging as well, whether it is from their car, past schooling, or medical expenses. No matter the case, owing money can be extremely stressful, especially if you are in a position where you can’t afford to make repayments. Fortunately, there are more possibilities than ever before for getting in control of your debt. Even better? Nowadays, more and more people are going from being deep in debt to grow their net worth to heights they had never imagined before. The first step to achieving this is to understand all the different ways you can approach how you spend and save your money.

1. Refinance

Refinancing remains one of the most popular ways to decrease lower monthly payments. Doing so includes getting a better deal on the often-high interest rates you pay with your current loan. For example, if you have a student loan repayment plan with a high-interest rate, you can consider refinancing the loan with a private lender. The lender will offer you a new loan, often with a much better rate and flexible repayment plan. You can use a student loan refinance calculator to know what to expect to pay. If the rates look favorable, you can check out the top private lender websites and from there you can submit an application.

2. Cut Back on Expenses

This one may seem like the most obvious choice, but it is one that many still struggle with. Fortunately, cutting back on expenses, once you get into it, becomes like second nature. You can do so in a number of ways, including by cooking at home, switching to a cheaper cell phone plan, cutting out unused monthly subscriptions, and making use of coupons and discounts. The cash you save from doing so can help pay for debts and grow savings.

3. Find New Sources of Income

The best way to both pay back your debt and grow your net worth is to find more sources of income. The options for extra income are nearly endless these days. Many take on freelance work, which can involve such things as freelance writing, graphic design, photography, translating, becoming an exercise trainer, or tutoring. Chances are, if you’ve got a skill, you can make money off of it. Like with cutting back on expenses, you can use this extra income on your debt and savings.

4. Invest Wisely

Lastly, where you put your savings can make all the difference in increasing your overall wealth. Instead of just letting savings sit in a savings account where it doesn’t grow or earn interest, put your money in a Roth IRA account. You can increase your wealth tremendously by following this path, especially if you begin investing early. For instance, putting just $100 monthly in a ROTH IRA starting at 20 can see you growing a net worth in the hundreds of thousands by the time you retire.

Invest Wisely

10 Tips to Establish Financial Independence in your 20’s

Want to save more in your 20’s? Start building habits right away that can help you achieve this goal because when it comes to saving, consistency matters. For many young adults, managing finances could be quite overwhelming. Once you are out of college, you need to start thinking of getting a house, medical insurance, and whatnot! Above that, you have no experience in managing your finances.

In this article, we are sharing the top 10 ways to establish financial independence in your 20’s so that you can live the life you always wanted.

1. Start setting budgets for financial independence

If you are still in college or have just started working, you must start setting budgets for everything. A budget is just a fancy term for a plan on how you are going to spend your money.

Start with taking note of all your expenses. Include every little thing in this list, from buying groceries to paying for your gym class. Then, see where you can cut costs. For instance, if you are someone who eats out most of the time, try cooking meals at home and see how your savings go up!

2. Do not rely on your credit cards much

Credit cards make it possible for us to get what we want. But, when it comes to paying the bills, it becomes tough. So calm your mind a little and stop yourself from using your credit card unnecessarily. Many young adults have started using their credit cards only at the time of an emergency.

If you are buying anything on monthly installments, make sure to get a no-cost equated monthly installment (EMI). In no-cost installments, the bank charges no interest on your credit card bill. This way you can pay a large bill in a few months. However, large monthly installments would block your credit limit. So in case of an emergency, you might not be able to use your credit card. Therefore, make sure you opt for a small loan.

3. Live a frugal life

If you want to manage your expenses in your 20’s, stay lowkey and authentic. This means even if you have a car, choose public transportation for commuting to work as it would save you money. Do not go crazy behind brands and make sure to spend your money on shopping wisely.

If you have a $300 purse, but you have nothing to put in it, your purse isn’t worth it. But, if you have a $10 purse with $290 in it, the value of the purse automatically increases. You may also try and cook meals at home instead of eating outside. The bottom line is to learn to live within your means and save as much as possible.

4. Say no to borrowing

Whether it be your mother, father, sibling, or any other family member or friend, make sure to borrow no money from them. Then only you will be able to reach financial freedom in your 20’s. Learn to manage your expenses on your own as much as you can. Even if you have to get a loan from them, maturely approach your parents and make sure to repay their loan as soon as possible. Building financial independence is more about feeling financially independent.

5. Check your spendings

Setting up a budget is not enough, you need to keep a check on yourself and your savings. Doing this regularly will help you analyze whether you are meeting your monthly spending goals or not. Gather your monthly bank statements and make sure to balance your accounts and keep track of all the transactions that took place. It might seem a lot right now but once you will get into a habit, it will become easier for you to track your spending records.

6. Avoid impulsive shopping

Do you often shop based on your feelings and emotions? Many young adults go out shopping when they are feeling bored, depressed, or extremely happy. At such times, they shop for things that they might not need and all this disrupts their savings. First of all, make sure you do not shop impulsively. Secondly, make sure you have a list every time you go out shopping. You need to buy things that are mentioned in that list. Do not let any attractive offers lure you. Just a little organization and you will be able to enhance your savings.

7. Make savings a priority

Do you often save money after everything else is taken care of? Well, change this habit as early as possible. Make your savings a priority. Whenever you receive your monthly salary, make sure to save some part of it. Then, keep the rest for investing and paying bills. Many people follow the 50-3-20 rule. Based on this, 50% of their earnings go to their basic needs, 30% of their earnings go to their wants and 20% of their earnings go to investments and savings. You may alter this figure based on how much you earn.

Financial Independence

8. Try minimalism!

This could be your next lifestyle. Minimalism, as the name suggests, means living with the things that you need. We often have this habit to fill our houses with everything. We might have fifty dresses back at home and still won’t hesitate to shop for another one. We never hesitate to buy a new decor item for our house or a new shining bedsheet even if we have many in stock. All this leads to unnecessary spending and would never let you reach financial independence in your 20’s.

9. Look for deals

Daisy, who works as a finance expert at GoDissertationHelp says, “you can save a lot on things you normally buy such as groceries or clothes. All you need to do is wait for the right time. For instance, many online grocery stores offer huge discounts on certain days every month.” Similarly, online retail stores like Amazon offer huge sales on special days like festivals and end-of-season. You can buy clothes, furniture, or decor items on such days.

10. Be patient until you reach financial independence

Learning how to manage your finances is a process, just like taking assignment help. Do not expect yourself to master this technique in just one day. Sometimes you might shop impulsively. Sometimes, you might not be able to save up to 20% of your income. When these things happen, be kind to yourself and do not feel guilty. John, who works as an academic assignment helper says, “your goal should be to watch yourself from spending money unnecessarily and learning from your mistakes. Do not let your mental well-being get harmed while spending less and saving more. Slowly, you will learn to overcome your emotions, and then you will become financially independent.”

Wrapping up

Building a habit to save more and spend less takes time. Hope these 10 tips will help you establish a ritual to save more money in the future. No matter what you choose, never compromise your health for money. You are still in your 20’s. It is great at least you have decided to save for the future. But you still have a lot more days and a lot more potential to accomplish your goals. Just never give up!

Top 5 Reasons Why Insurance is Important in Life and Helps

Life insurance is about securing your greatest asset: your own self and life because nothing is more important than your life. As we go through the different stages of life and grow older, find a partner, and start a family, we realize the importance of getting insurance as a long-term plan for financial stability.

Insurance provides you with the financial stability to sleep peacefully, knowing that you and your loved ones are protected and in good hands. The concept of life insurance can be complicated, and it’s more difficult to decide if you need one or not. Here are a few other reasons why you should get life insurance.

1. Inheritance

Nobody wants to leave their loved ones with the burden of loans and no money to live one. Everyone wants their family to be financially secure after their death. Life insurance can help you achieve that by enabling you to build an inheritance. If you don’t have other assets to leave behind as inheritance, you can create a life insurance policy and name your loved ones as beneficiaries. This way, you can secure your children’s future and provide for them even when you aren’t here.

2. Protect your loved ones

Life insurance becomes a must when you are the only bread earner in the house. Life insurance is important when your loved ones depend on your income for a living because it takes care of them financially in your absence. This holds especially true for parents with young children or a spouse that is completely dependent on the other and would find it difficult to sustain a living if their partner passed away. You need to think long-term and keep in mind that you will have to provide enough money so your family can cover the cost of daily expenses.

3. Pay of loans and debts

Your loved ones also need to be free from any outstanding debts and loans. Funeral and burial expenses can easily account for up to fifteen thousand dollars. When you go, you obviously don’t want your loved ones to worry about financial problems along with the emotional trauma they will be going through.

4. Increases financial stability

Everybody wants their loved ones to live peacefully and happily without any financial problems and issues when they pass away. Getting life insurance secures your loved ones’ future and takes care of their education, marriage, and career. But you must see best final expense insurance companies available in the market before you make your decision.

5. Sleep peacefully

Nobody knows when they are going to pass away. Death is inevitable and will eventually occur. No one can ever replace a person and the contributions and love that they have for their family. But life insurance can help provide financial stability and protection in times of need and unexpected events.

Top Reasons Why Insurance is Important in Life

Conclusion

Getting life insurance will, without a doubt, bring you peace and allow you to sleep peacefully at night, knowing that you and your loved ones are in safe hands. Life insurance protects your loved ones from the unexpected events that they may face once you are gone and provide them with care and financial aid whenever they require it.

Positive Words Research – Top Reasons Why Insurance is Important in Life

4 Simple And Smart Suggestions To Boost Credit Score

Do you often pay high-interest rates on your loans or credit cards? Or, does your lender or card issuer ask you to pay more as EMI than someone you may know? If your answer to any one of the two questions is ‘Yes’, then you are a victim of a low credit score.

A high credit score brings with it several benefits like a low-interest rate, better terms, higher repayment tenure, and broader discounts. Such benefits can conveniently decrease your interest bills than the current home loan or other loans’ interest rates. Read this article to discover four simple yet effective ways to boost your credit score.

The Top-4 Ways to Enhance Your Credit Score

When you apply for a home loan or any other loan, the lender would take a look at your credit score and determine the interest rate. If you want a lower interest rate than the current home loan interest rates, you have to increase your credit score. At this point, it is prudent to note that the current home loan interest rates are the lowest when compared to other loans.

However, before taking steps to increase the score, you should find out the reasons why your score is nose-diving.

Here are the ways you can boost your credit score!

1. Pay More When You Can Afford To

If you have an existing loan, like a home loan, the chances are high that you pay a fixed amount every month. In the case of a floating rate of interest, your EMIs increase or decrease depending on market rates.

As you continue paying the EMIs on time, your credit score slowly ascends to the top. To accelerate the process, you can pay something extra when you manage some extra cash. Doing so can increase your credit score considerably, as it reduces your credit utilisation ratio.

2. Extend Your Loan Term

At times, your lender may tell you the advantages of closing off your loan account, like a home loan, early. The lure of massive savings may prompt you to opt for a short tenure loan. While it’s true that a short duration indeed makes you debt-free earlier, it can also increase your loan bills, making it challenging to repay on time.

In such cases, it is better to request your lender to increase the loan term. As you repay the loan bills before due dates, your credit score would jump healthily and steadily.

3. Keep Your Credit Utilisation Ratio Low

The Credit Utilisation Ratio (CUR) is the amount you owe to lenders compared to your net monthly income. If your CUR is 50%, it means you spend 50% of your net earnings to pay credit bills, including home loan EMIs.

If you aspire for a high credit score, your CUR must be below 30%. A low CUR means less stress on your financial health and better credit score.

Boost Credit Score

4. Keep an Eye on the Credit Bureau

While it may seem too naive a suggestion, it can sometimes be the reason behind a low credit score. There are instances when the credit bureau is late in updating your records or might have updated it incorrectly.

It would be best if you check your credit score at least once every month and point out any anomaly. CIBIL, for example, provides you with the CIBIL Dispute Resolution Form, which you can submit online with details of the error.

Conclusion

Boosting your credit score can open up a door of opportunities. In best cases, you can get a much lower interest rate on your loans, like a home loan, than the current interest rates.

Positive Words Research – 4 Simple & Smart Suggestions To Boost Your Credit Score

Essential Shopping Tips for Students on a Budget Today

Limited resources can spell doom to your college life. You have limited money to spend on entertainment, personal projects, and crucial academic needs. Save money by getting cheap help on homework. The helpers also allow you to focus on money-making ventures like a job or entrepreneurship.

Luckily for students, there are numerous options when your finances begin to run low. Here are tips to help you shop for supplies without spending a fortune or running out of cash.

Create A Budget

Write down what you need to buy. A list will give you an idea of how much you will spend when you get to the supermarket. You can evaluate the items on the list against the money at hand. The list also helps you to establish priorities. Because the items are on the list, you can identify what stays and the items that can be discarded.

A budget keeps you disciplined when shopping. The discipline will enable you to remain within your budget. You will also tame the spending habits that could lead to your bankruptcy. Always create a budget to help track the expenses and determine where your money goes.

Hunt For Promotions And Sales

Businesses and brands are always offering items and services at a discount. The offers and promotions help you to get the same quality of goods or services at a cheaper price. It will result in huge savings, leaving you with more money for future expenses or allowing you to buy more.

There are seasons that come with plenty of promotional sales. In other cases, brands entering the market or supermarkets opening their doors will run promotions. You should also time your buying to coincide with promotional seasons like Christmas, New Year, Black Friday, and such seasons when prices are significantly reduced. You get the same quality of goods and services but at a lower price.

Utilize Your Student Status

Students receive special consideration from time to time. Students on budget can take advantage of such considerations to save money. For instance, entry to a movie store could be a dollar lower than the ordinary person. All you need is to tag your student ID along.

In some cases, you are requested to make your student booking early. Take advantage of the student status to enjoy premium services at a bargain. The status lasts just a few years. Once it is over, you will have to pay the standard market price for the same services.

Use Cash-Back Apps And Loyalty Points

Stores and businesses entice people to use their apps with discounts. You lose nothing by downloading the apps and using them in your shopping. The promotion maybe once in a while but it will lead to huge cumulative savings.

Loyalty points are redeemed when making purchases. You get goods worth a particular amount based on your accumulated loyalty points. Stick to a particular store to accumulate enough points to use during your next shopping expedition.

Avoid Wasting Food

Food is one of the most expensive items on your budget. You spend on food every day. Buy food at affordable stores and avoid wastage. If the food is too much, you can save it for future help. Learn to prepare leftover foods such that they are palatable. If you can tame your food bill, your budget will reduce significantly.

Living on budget as a student does not mean that your life should be miserable. Budget for your finances and always look for opportunities to save. Adjust your priorities even as you take advantage of your student status to enjoy discounts.

Financial Prosperity

Positive Words Research – Essential Shopping Tips for Students on a Budget

30 Financial Affirmations to Attract Wealth and Abundance

Positive Words Research presents below a list of 30 financial affirmations to attract money, wealth and abundance. Read these financial affirmations carefully and reflect upon them adding details from your life when thinking.

30 Financial Affirmations to Attract Wealth and Abundance

  1. I get paid for being me.
  2. More money is appearing in my life in unexpected ways.
  3. I deserve money so I can do everything I want to do in this life.
  4. Day by day I can see more money flowing to me.
  5. I spend money wisely.
  6. I am financially thriving.
  7. Money comes to me effortlessly and easily.
  8. I am attracting all the money I want.
  9. I have money like oxygen.
  10. I get richer by the second.
  11. May I and everyone enjoy financial freedom.
  12. I am grateful for all the money I have received.
  13. I am generous and wise with money.
  14. The Universe conspires to give me everything I need.
  15. We live in a friendly and generous Universe.
  16. I seek money and money is seeking me.
  17. I find joy in giving because I have more than enough.
  18. I choose prosperity.
  19. I get to show up and get paid.
  20. I pay my future self first.
  21. Every day in every way, I am becoming richer and richer
  22. Life is full of opportunities to make more money.
  23. I easily tune into the prosperity mindset.
  24. My bank account is blessed.
  25. I release with grace and ease every block that held me back from receiving prosperity.
  26. Every day in every way I am attracting more and more money.
  27. I allow my dream to be supported with money.
  28. I am worthy of receiving money.
  29. I have money.
  30. I have both active and passive income.

Write each of these financial affirmations on a piece of paper and reflect upon them. Also, inform yourself about tips to know and implement in your life so that you can reach financial freedom and independence.

Share these money affirmations with a friend to inspire his prosperity thinking.

Positive Words Research – 30 Financial Affirmations to Attract Wealth and Abundance

30 Financial Affirmations to Attract Wealth and Abundance

How Can You Better Stick to Your Resolutions for the Year

Now that we’re full-on into the New Year, yet still, at its beginning, it’s time to see how well we’re sticking to the resolutions list we’ve made for ourselves a little while back. While making a resolution list in full enthusiasm and with an open heart is inspiring, unfortunately, it’s also no guarantee to help us stick to our plans in the year ahead. 

How Can You Better Stick to Your Resolutions for the Year?

We may get sidetracked by other unforeseen plans or even discouraged by the proportions of what we’ve set out to accomplish for ourselves. However, the good news is that, as with everything else in life, there are ways to slow down and pursue what we want in a calmer, more efficient matter. Let’s look at some tips on how we can make sure we’ll cross off the list even our wildest objectives and dreams:

1. Break Down Objectives into Bite-Size Portions

When you wrote down your list, you probably took note of everything you want to accomplish, but rather in the bigger-picture kind of way. Now it’s time to take the first still unmet objective on your list and break it down into smaller steps. Write down the first thing you can do to get closer to this goal and assign it a timeframe. When can you have it ready? What needs to happen for you to be able to meet that deadline? What can stop you from achieving it? What external help and resources do you need to make it happen? 

Say, for example, one goal was for you to reach financial prosperity this year, but that’s too vague. Think that by March you’ll apply to ten different jobs, by May you take on that extra freelancing job you’ve always wanted to and by July you’ll collaborate with someone on a new project. It’s all about envisioning the small steps that together can bring you the financial prosperity you’ve dreamed of. Additionally, you can look at poor habits that prevent you from reaching and maintaining financial prosperity.

2. Reach Out for External Support

Even though they may be our own dreams and goals, it doesn’t mean we need to work alone on them. The beauty of moving through life organically towards what brings you fulfillment is that the right people will always come your way to help you get where you want to. So try to relieve some of the pressure you’ve put on yourself and look outside, in trying to identify which people from your social circles can contribute to your dreams. 

Remember, happiness is only real when shared, so do your best to collaborate with people that share your vision and aspirations. In the end, the reward will be so much bigger when you’ll cross the finish line together, rather than just by yourself. And who knows, you may also be helping someone fulfill their own dreams in the process. And you will for sure stick to your resolutions for the year.

3. Don’t Give Up the Resolutions for the Year

Sometimes reaching out to something we really want can become overwhelming, scary and exhausting. This is why it’s important that within those moments we step back and treat ourselves gently. Instead of putting even more pressure on ourselves, we need to allow ourselves to take a break whenever we need it, so we can come back to our projects and dreams with a fresher mind. It’s often so easy to lose sight of the reason why we’re doing what we’re doing or to disconnect from gratitude and positive thinking. In this way you will stick to your resolutions for the year.

But that’s just when we need to bring gentleness and calm in our already turbulent mindsets. By practicing this shift every day, you’ll soon notice how inner peace is following its natural course again and your energy levels are slowly back to normal. Life is filled with setbacks and energy rushes, so it’s important to remember how natural they are and how it only requires patience and calm from our side to manage all these fleeting emotions.

Ultimately, it’s important to realize that our dreams will always be there for us, calmly waiting for us to come and bring them to reality. So we need to pace ourselves in this crazy rush to get things done, look for outside support whenever necessary and constantly have faith in who we are and what our personal mission is. Everything does fall into place eventually. And this is how you better stick to your resolutions for the year.

About the Author

‘Claudia Spataru is a free spirit located in Bucharest, Romania and always in search of answers to life’s greatest questions. She loves to understand how people work, what makes them tick and find ways to help them reach higher grounds. She adores the sea, traveling and laughing.’

Positive Words Research – How Can You Better Stick to Your Resolutions for the Year?

How Can You Better Stick to Your Resolutions for the Year

Financial Abundance Feel Far Away: Learn What Can You Do

Most of us have an idea of where we would like to be in life and it often includes a desire towards financial abundance. Call it wealth. Call it prosperity. Whatever you choose to call it, it’s probably right there, up on your wishlist. 

Why Does Financial Abundance Feel So Far Away and What Can You Do About It?

But from wishing it to actually attracting it sometimes feels like a road longer than the one we signed up for. So what do we do to get there? Or better yet, what should we stop doing in order to achieve the financial abundance we covet so much? The questions seem pretty straightforward, but the answers can require some careful soul searching and definitely a lot of personal work. This is why we’re going to go through a list of solutions that will hopefully embolden you to change the way you think about money and empower you to attract more:

1. Dig Deep to Uncover What You’re Manifesting as Financial Abundance

If you’ve ever heard about the law of attraction, know that it’s not just another theory flung around by modern pseudo-thinkers, but it’s actually the way things work in life. If you believe and want something for yourself, the universe will make way and get it closer to you. It will remove all obstacles and eventually send you the right opportunities that can help you open the doors you want. 

However, if you know what you want and have a clear vision of how your financial life could look like for you, but your reality still doesn’t reflect that it must be that somewhere in your subconscious you don’t actually believe you can achieve it. In other words, what you actually believe is that you’re unworthy of having financial wealth. This is where you need to start digging deep with the goal of discovering your financial blueprint. We all have blueprints that guide us through every aspect of life and your money-related one was probably developed in your childhood. 

Try to remember what your financial education felt like, how your parents felt about money and what they felt they deserved money-wise. Write every new discovery down and read it again every time you need to stop your negative brain from taking charge. This is a good first step to unlocking the financial abundance you always wanted for yourself.

2. Work On Dismantling Old Beliefs and Replacing Them With New Ones For Financial Freedom

Once you’ve got the answers to all these questions, it’s time to look at your life and see how these beliefs manifested themselves without a shadow of doubt throughout your life. Once you become aware of the power these toxic thoughts had on you, you can start dissociating from them and bid them farewell. 

It’s okay to want more and it’s even healthier to start thinking you deserve it. Of course, this won’t happen overnight, but as long as you start telling yourself empowering words daily, you will manage to rewire your subconscious in a way that’s more financially supportive. This is a process that takes time and progress may not always be straightforward. Old beliefs will sometimes creep into everything you approach financially, so it’s important to take notice of them and stop them in their tracks.

3. Let Abundance Flow Into Other Areas of Your Life As Well For Financial Prosperity

Abundance is abundance, no matter what areas of your life you are manifesting it in. If financial abundance is taking a little longer to attract, know that if you start embodying abundance in other areas too, your overall vibration will rise and will make room for higher financial grounds too. 

What you need to do in order for this to happen is to commit to living your life with an emphasis on adding more value to others. As soon as you start giving recognition, praise, inspiration, and support to others, you’ll start feeling a lot more grateful for what you have and you’ll tap into that inner wealth that will eventually build more positive emotions for you. If you give out of a place of genuine generosity, you will receive just that – generosity a hundred times back.

These tips are only the stepping stones on which you can envision and create a better financial future for yourself. Additionally to this, you also need to stop making excuses for yourself, even for life’s more trivial activities, and to commit to offering yourself the best possible version of life because you truly feel you deserve that and nothing less. Don’t settle, don’t compromise, practice gratitude, empower others and work hard on changing your blueprints. The rest will soon fall into place.

About the Author

‘Claudia Spataru is a free spirit located in Bucharest, Romania and always in search of answers to life’s greatest questions. She loves to understand how people work, what makes them tick and find ways to help them reach higher grounds. She adores the sea, traveling and laughing.’

Why Does Financial Abundance Feel So Far Away and What Can You Do About It

Money May Not Buy Happiness But Financial Stability Helps

Your parents likely told you once or twice when you were young that money doesn’t buy happiness. Not to say they were wrong, but as we age we begin to understand the importance of peace of mind and that being caught between a rock and a hard place is a lot easier to squeeze out of if you’ve got the right funds stored away.

While money may not buy happiness, there is something to be said about the positive effects budgeting your income (and debts) affords you. Creating stability within your finances can reduce stress and create more opportunities for the funnier things in life. As adults, this financial stability can come in many forms. In particular, saving up for your first home and refinancing your student loans are pretty common, important milestones. Keeping a positive mindset and utilizing habits for success will be essential when working through these challenges.

Adjustment Is Sometimes Necessary

Considering how many graduating adults finish school with debt, refinancing your student loans is a great option that can help provide more financial stability and create more flexibility within your monthly budget. Refinancing can seem like a hassle, but the process is fairly simple and oftentimes easier than you think.

Refinancing can also provide a much-needed mental break considering the negative, stressful feelings that arise when you watch your saving get drained by those huge monthly payments. It’s also important to keep in mind that refinancing doesn’t necessarily mean you’re incapable of paying back your loans. Rather, it’s like tailoring your payments to better fit your current place in life. For example, if you have a student loan repayment plan with a high-interest rate, you can consider refinancing the loan with a private lender such as Earnest refinance.

Financial stability

There are a few things to consider before refinancing. As the experts at LendKey explain, “When making any financial decision, timing is everything, and refinancing student loans is no different. There are several factors to this – some a student can control and others they cannot – that affect when they should refinance student loans. This includes the timing of graduation, interest rates, employment, and credit score.”

Refinancing also depends on which lender your loans are through as the requirements vary from company to company. Either way, it’s definitely worth investigating to see if you qualify. Adjusting your payments to better suit your income makes it easier for you to pay in full and on time each month, which is good news for your credit score and stress levels.

Confidence Is Key

Another significant milestone, buying your first home, is a financial goal that many adults are currently working towards. The process of becoming a homeowner can often seem intimidating, especially if you’re unsure if you’re actually ready for that kind of commitment. It can be fairly easy to focus on the negative feelings that arise when approached with a significant milestone such as this. However, you’re likely not giving yourself enough credit, and although the process can be tricky to navigate at times, it’s important to not deflate your own dreams of owning a home one day.

Of course, there is definitely a lot to consider when it comes to buying your first home: mortgage rates, down payments, property taxes, etc. You also need to ask yourself if you are in a position to stay in your home for an extended period of time. As Quicken Loan suggests: “Generally, we recommend you only consider buying a house if you plan to live there for at least five years, but this depends on a lot of factors, like the housing market, rental prices, and how much equity you have in the house.”

Create a goal for yourself

While you may not be able to afford or find your dream home right now, it’s still worth creating a goal for yourself and beginning working towards it. With that in mind, shopping for a new home can certainly drain you mentally and physically, which means it can be tempting to give up. Nevertheless, with the right budgeting, discipline, and determination, buying your first home doesn’t have to be so scary.

As we mature, financial stability becomes more and more important. Finishing school, owning a home, and finding the right career are all valuable goals the majority of us all hope to achieve one day. While money may not buy happiness, when we are able to better manage our time and money, we can worry less and enjoy our spectacular life even more.

Author’s Bio

Avery T. Phillips is a freelance human being with too much to say. She loves nature and examining human interactions with the world. Comment or tweet her @a_taylorian with any questions or suggestions.

financial stability

10 Things to Write In Your Journal to Pursue Success Now

Success is the sum of small efforts, repeated day-in and day-out.~ Robert Collier

What makes a successful person? This is the question everyone may answer differently based on own principles and own system of values. But generally, we imply achievement of goals, accomplishment, recognition and social status, financial prosperity etc.

All of these aspects are the result of hard work, persistent self-development and investment into advancing own knowledge and accumulating experience.

To make this investment pay dividends you should track your own ups and downs, draw conclusions and map out your goals and growth plan along the way. Keeping a journal is a good way to help you do that.

So, let’s go through 10 things you should put in your journal to pursue success.

1.     Your Successful Self-Image

To become successful you should try and see the picture of successful you in real time, right now. What do you look like? Which are the qualities do you possess? What is the occupation that makes you successful? What kind of people make your social network?

Make this page first in your journal. Expand on the vision of yourself in written. This will help you remember what person you would like to be. By rereading this description, you make your brain believe you really are this person. So, make the best of it!

2.     Your Goals and Best Ways to Achieve Them.

It isn’t easier to know where you are headed or what you want to achieve without goals. If you want to succeed, ensure you’ve set your goal and have a plan on how you’ll carry it out. You can plan a goal that you want to achieve in short-term as well as long-term.

3.      Self-Development and Extra Learning

Success doesn’t come easy. It requires you to invest in self-development programs as well as extra learning. Whether you are planning to attend online classes, a professional workshop or anything that will help you become successful, ensure that you include them in your journal.

4.     Your Great Ideas and Thoughts

We easily forget things because human mind was never created to remember everything. Keeping them in your journal might do you some good. Whether it is just a thought or an idea you think is great, document it in your journal.

“Quite often great ideas invade my mind. Unfortunately, they are never meant to last,” says Jill Evans, a professional writer at Superior Papers. “This made me feel regret because I didn’t use to make notes until I introduced journaling into my writing life.”

5.      Your Must-Read List

From time to time you may come across some insightful and worthwhile articles, books, professional materials you should read to contribute to your success and to enhance your knowledge. Make the reading from your list regular and add new valuable stuff as the list is getting reduced.

6.     Your Successful and Positive Experiences

Successes and positive experiences are celebrated once and forgotten. It doesn’t matter how small or big it is, remembering it when you feel less motivated will get you back to your feet. So, do not forget to document them.

7.     Your Failures and How You Could Have Resolved Them

When trying to succeed, failure is always waiting for that moment when you slip and fall. But don’t give up as soon as you fail. Never forget that failures are meant to build you. Remembering them when you can finally achieve something is one way to celebrate your past. So, write them down and include some of the ways you could have resolved them.

8.      People around You and Their Qualities You Would Like To Learn

Success is much easier if you have role models around you. You need to take advantage of their presence to learn a few more good things. You can include in your journal the traits, abilities or behaviors that make them your perfect role models. Contrary to that, you may add your personal drawbacks and negative habits to see clearly what you need to get rid of.

9.      Inspirational Quotes and Sayings of Successful People to Write in your Journal

Motivation will help you achieve the impossible and nothing does this well than inspirational quotes or phrases from successful people. So, whatever inspiring quote or saying you get either from the internet, or you hear from a person, add it to your journal and reread whenever you feel discouraged.

10.     Questions Which Require Additional Information

When you are trying to learn something, questions, just like ideas will invade your mind. Unfortunately, getting answers is never a guarantee, but not when it can wait. So, remember to document the questions you have to make it easier for you to find the answers later.

Your thoughts, the role models you have around you, the environment you live in and resources you can access, offer you a lot to learn from. Take advantage of what you hear, see or smell, add them to your journal for reference, learning and most importantly, finding a solution. Ensure that you write your journal regularly so that you don’t miss the important things.

Are you keeping a journal? Let us know what your list contains and share your ideas.

 Author’s Bio

Rachel Bartee is a freelance writer who finds her passion in expressing own thoughts as a blogger. She is constantly looking for the ways to improve her skills and expertise. Get in touch with her on @rachel5bartee.

Here at Positive Words Research, we are looking to share with our readers original content that hasn’t been published on other sites so if you are comfortable with Positive Words Research being your sole publisher, we are more than happy to share with our readers your inspiring and empowering story.

journal

5 Things To Do In Your Twenties to Retire in Your Thirties

Is it really possible to do things in your twenties to set yourself up for retirement in your thirties? Yes! It is possible. Is it guaranteed? Of course not. There will always be factors outside of your control, but that doesn’t mean you shouldn’t go for it. Retirement in your thirties might be a lofty goal, but it is not impossible. So, why not work towards that goal? What is the worst thing that can happen? Good choices in your twenties might put you on the path to retirement. At worst, they will put you on the path to prosperity. Either way, here are 5 things that you can do to retire in your thirties.

1. Learn the Difference between Good and Bad Debt

Creating wealth often requires that you go into debt temporarily in order to make a profit later. This means that you need to have an excellent credit rating. Many people make the mistake of believing that the best approach to early retirement is to never go into debt. This is a big mistake. Having no debt means that you have no credit. This means that when you do need to go into debt, to invest in real estate, for example, creditors have no way of knowing if you are worth the risk. This is why incurring some good debt is necessary.

Good debt is a reasonable amount of debt that you carry, based upon the income that you pay in a timely manner. One example of good debt would be a credit card that you obtain through the local bank that you carry a small balance on. As long as you make payments on time, and you carry over a small balance each month, you will be creditworthy when you need to borrow money. Just keep your debt to a minimum.

On the other hand, bad debt can be high-interest credit cards where you make only minimum payments and are frequently late, buy here pay here car purchases, and many types of an in-store credit. Avoid this type of debt like the plague.

2. Start Saving Immediately and Make Sacrifices to do So

If you want to retire in your thirties, you will need to build a healthy, liquid savings account now. This will be your source of emergency funds. In addition to this, once you build up enough savings, you can begin to move some of this cash into a retirement fund or into other investments.

Your next question is probably how much should you have available in savings? That depends on your lifestyle and income. However, many experts say that you should save 1 to 2 years’ worth of income in case of an emergency? Just remember that your goals are different than your peers. They may be fine simply putting away 10 percent of each paycheck. If you aren’t making enough to save adequately this could be one of many signs that it is time to change careers. You, on the other hand, will need to put away much more. In fact, you will have to make important personal choices and sacrifice some wants to make early retirement happen.

3. Live as Simply as Possible

Consumerism is one of the biggest barriers to financial success. Every day, you are targeted with ads that are designed to do nothing more than thinking that you need to purchase products or services that you don’t really need. Take a look at your life as it is right now. What can you simplify, what can you give up, where can you cut back? For example, do you really need to own a car and a home? Are the maintenance and payments on both worth it? Maybe you could cut some complications out of your life and save money if you purchased a small condo that was close to work and rode the bus. Do you really need that full cable package with all of the sports and movie channels? Could you live with Netflix and just pay for wi-fi instead? What about using your smartphone as an internet hotspot instead of enriching some major cable conglomerate?

4. Don’t Purchase: Invest!

Speaking of overconsumption, remember that every dollar that you spend on a good or service is a dollar that you are not using to invest in your future. If you prioritize putting money into retirement savings or towards other investments, you can earn money on your money. This will go much further than money spent on some item that is going to depreciate over time. Whether you have a 401k or some other retirement plan, be sure that you are contributing the maximum amount that you can. Remember, if your employer has a matching program, you are throwing away money if you don’t invest at least that amount from your own paycheck.

When you get raises, tax refunds, or other windfalls of cash, don’t fall into the temptation to make some big-ticket purchase or take a vacation. Instead, put that money towards your investments. If making a purchase is necessary, focus on getting the most value for the smallest amount of money.

5. Make Your Free Time Productive Time

There is absolutely nothing wrong with enjoying life, doing things that make you happy in your downtime, and even procrastinating from time to time. However, if you are like many people, you waste several hours each week simply being unproductive. This is time spent surfing the internet, watching television, and otherwise doing nothing that is constructive. Consider taking some of that spare time to pick up an extra job or starting a side business, to learn a new skill that you can monetize down the road, or to learn more about investing.

Conclusion

Wouldn’t it be great to get out of the rat race instead of working for the next forty years? If you make some sacrifices and smart choices now, this could be a very real opportunity for you.

5 Things You Can do in Your Twenties to Retire in Your Thirties
Rick Riddle

About the Author

Rick Riddle is a marketing consultant and an up-and-coming blogger whose articles aim to help people with e-learning, career, entrepreneurship, self-development, and digital marketing.

Feel free to follow Rick on twitter and LinkedIn.

Positive Words Research – 5 Things You Can do in Your Twenties to Retire in Your Thirties

Best 94 Affirmations for Financial Prosperity and Abundance

Find below 94 affirmations for financial prosperity. These money affirmations will change what your brain thinks about financial abundance. The prosperity affirmations will change your thoughts from thinking scarcity to thinking abundance and you will attract very fast financial prosperity.

Repeat and reflect constantly on the below affirmations for financial prosperity and you will for sure increase your energy for attracting money.

  1. I love financial abundance.
  2. I love financial abundance and financial abundance loves me.
  3. I am grateful for financial abundance.
  4. I am grateful for financial abundance and financial abundance is grateful for me.
  5. I am financial abundance.
  6. I am blessed with financial abundance.
  7. I am a magnet for financial abundance.
  8. I choose financial abundance.
  9. I have financial abundance.
  10. I affirm financial abundance.
  11. I appreciate financial abundance.
  12. I attract financial abundance.
  13. I have financial abundance in every detail of my life.
  14. Financial prosperity is blessing me.
  15. The energy of financial abundance is blessing me.
  16. God is blessing me with financial abundance.
  17. God has blessed me with financial abundance.
  18. I have enough financial abundance.
  19. I have more than enough financial abundance.
  20. There is an abundance of financial prosperity and it’s on its way to me.
  21. I am a financial prosperity magnet.
  22. I am receiving financial abundance every day.
  23. Thank you. Thank you. Thank you for financial abundance.
  24. I have plenty of financial abundances.
  25. I can afford financial abundance.
  26. Financial prosperity comes easily and frequently.
  27. I am good at financial abundance.
  28. I have always been able to be financially abundant.
  29. I have always been able to have financial abundance.
  30. I am very good at receiving financial abundance.
  31. I am very good at welcoming financial prosperity.
  32. I am very good at attracting financial abundance.
  33. I love my financial abundance.
  34. My financial abundance is good.
  35. I am always financially abundant.
  36. I am a very good financial abundance maker.
  37. I can see easily, clearly and effortlessly my financial abundance.
  38. It is easy for me to make financial abundance.
  39. Financial abundance seems to stay in my hands.
  40. Life is full of financial abundance.
  41. I embody financial abundance.
  42. Money flows effortlessly into my life.
  43. I am open and willing to allow financial abundance to come to me.
  44. Financial abundance flows to me from multiple sources.
  45. May I be blessed with financial abundance.
  46. Financial abundance is there and I tune myself to it.
  47. Financial abundance is my birthright.
  48. I love money.
  49. I love money and money love me.
  50. I am grateful for the money.
  51. I am grateful for money and money is grateful for me.
  52. I am money.
  53. I am blessed with money.
  54. I am a magnet for money.
  55. I choose money.
  56. I have the money.
  57. I affirm the money.
  58. I appreciate the money.
  59. I attract money.
  60. I receive money with every detail of my life.
  61. Money is blessing me.
  62. The energy of money is blessing me.
  63. God is blessing me with money.
  64. God has blessed me with money.
  65. I have enough money.
  66. I have more than enough money.
  67. There is an abundance of money and it’s on its way to me.
  68. I am a money magnet.
  69. I am receiving money every day.
  70. Thank you. Thank you. Thank you for the money.
  71. I have plenty of money.
  72. I can afford the money.
  73. Money comes easily and frequently.
  74. I am good at money.
  75. I have always been able to be good with money.
  76. I have always been able to have money.
  77. I am a very good money manager.
  78. I am very good at handling money.
  79. I am very wise about investing money.
  80. I love my money.
  81. My money is good.
  82. I am always receiving more opportunities to make money.
  83. I am a very good money maker.
  84. I can see clearly my money.
  85. It is easy for me to make money.
  86. Money seems to stay in my hands.
  87. Life is full of money.
  88. I embody money.
  89. Money flows effortlessly into my life.
  90. I am open and willing to allow money to come to me.
  91. Money flows to me from multiple sources.
  92. May I be blessed with money.
  93. Money is there and I tune myself to it.
  94. Money is my birthright.

Positive Words Research – 94 Affirmations for Financial Prosperity

Financial Success

Top 7 Basic Rules for Financial Prosperity And Abundance

The level of your financial prosperity influences your level of well-being. The result of an experiment performed on wealthy people says that your happiness level is strongly correlated with your money until you are able to generate 5000 euros a month. Above this figure, your happiness does not depend on your money anymore, if  you keep this flow steady.

But how do you generate 5000 euros a month and even generate more, so that you can fully focus on other sections of your life?

Lack of financial education is the main reason why people don’t have money. You will learn all your life how to reach financial success or financial freedom, but there are top 7 basic rules for financial prosperity. Your wealth depends on, you, actually applying, in reality, the below rules. The rules are written according to their importance, from first place to last place.

1. Pay yourself first for financial prosperity

Pay Yourself First is the central message of the book “The Richest Man in Babylon” by George Samuel Clason. This money rule is written in only three words (pay, yourself, first), but not many people understand what it actually means and why you should respect this rule. You will better understand if you say it like this: Pay Your Future Self First. When you pay, in the present, to your future self, you are actually paying your present self, because very soon, your future self will become your present self. Therefore, you are actually paying to have money in the present. Paying Yourself First means putting at least 10% – 15% from every income that you receive, in savings.

Other very important reasons to Pay Yourself First:

  • Pay yourself first so that you have money to invest. You cannot invest if you do not have money to invest. See more details about how to invest at section 4 below.
  • Pay yourself first to obtain mental relief relating to having/not having money to survive, for yourself and your family.

2. Cost monitoring for financial prosperity

Keep track of all your expenses. At present, the best and simple way to do this is by writing in an excel all your expenses and then putting this excel in onedrive. In this way you will have the excel everywhere you are (mainly either at work or at home) so you can quickly update it.

3. Tithing for financial prosperity

Tithing is giving away 10% of the money that you receive. This rule is again understood poorly. Three aspects will clarify this:

  • Give money to receive money. You get what you give. Give presents, receive presents. Give products, receive products. Give services, receive services. Give money, receive money.
  • 10% is not too much. If you feel 10% out of 100 $ is too much, then you will feel 10% out of 1000000 $ to be enormous. You need to train yourself to feel ease to just give money and also never see how that money is spent so that you receive with ease money and nobody should be concerned how you spend it.
  • Give the money without emotion. You give the money with emotions, you will receive money with emotions. Therefore, you make the process harder, not simpler. Money is simple: give money and receive money. It is a simple flow. Put emotion in it (even positive) and you will just stiff the process.

4. Invest for financial prosperity

Learn to invest and actually, invest. What investments should you have:

  • Have investments in cash in the long term as bank deposits, always. Cash is a property in itself.
  • Have investments with low risk (like bonds and state certificates) in the long term.
  • Have a property and rent it (like an apartment).
  • Start a business: make a website, make an online store, write a book, produce services, sell something.
  • House. If you buy a house to live in it, that is not an investment. If you rent a room in your house then the house becomes an investment. If you rent the entire house then the house becomes an investment.
  • Car. If you buy a car for fun or for going from work back to your house, this is not an investment. When you buy a car for your business and you notice an increase in your revenues, then that is an investment. If you buy a car for your business, but that car is for an employee that does not bring you more money than that is a cost, not an investment.
  • Yourself. If you invest in yourself, but you do not make more money, then you are not investing in yourself, you are just consuming.

In investments is good to learn all that you can about compounding effect. This is related to how money grow when you invest on the long term. Besides this, there are two very important rules to consider in investments:

An investment is something that makes you money

Very few people actually understand this. People say: the best investment that I could ever make is in myself. Then they go and buy all kind of stuff for themselves like clothes, subscriptions to gym, food, training etc. But they don’t link it with the extra money that they gain following all these expenses. If you say you invest in yourself, but you do not produce more money (or you do not produce money at all), then you are not investing in yourself. When you pay for a training (an online course lets say) and in the next year your income is not growing, then you did not invest in yourself. That training will always remain a cost for you, it is not an investment. Before you make an investment, you need to be able to say approximately how much increase in your cash you expect this to bring you. Otherwise, it is not an investment, it is only a normal cost.

In the medium to high-risk investments always only invest the money you are willing to lose

Never invest the money that you are not willing to lose when dealing with investments that are evaluated as having medium to high risk. Manage the risk and keep it as safe as you can keep it. Risk high only the money that you are clearly willing to remain without them 100%. If you have 2000 $ and you feel that you can not lose 1000 $ then do not invest 1000 $, or more. Invest less. Invest 100 $. If from 2000 $ you feel that you can only afford to 100% lose only 50 $ then invest only 50$. Then win in this investment of 50 $, by producing constantly 0.5 $ a month and you can consider that you realistically learned how to invest. Then you can invest more, but only if (again) you are willing to lose your next investment.

5. Net wealth monitoring for financial prosperity

Always keep track of your net wealth. Make a monthly computation (for example on 20th of every month) of your net wealth. Net wealth equals assets minus liabilities. To better understand net wealth consider the following formula: the current value of all things that you own (you need to check if you are able to sell your properties if there is a market for your items) minus all your debts.

6. Increase your revenues for financial prosperity

This rule is very important and very basic rule for financial prosperity but it’s not more important than the above rules. Because prosperity is the accumulation of wealth. Wealth is actually net wealth. Net wealth is not revenues (see above section 5). And new wealth is built in time. You should be able to accumulate wealth, this will make you have money. An increase in revenues, without the ability to accumulate wealth, will only make you have more costs.

7. Money mindset for financial prosperity

Money mindset refers to thoughts you have about money. So what do you think about money? Are those thoughts blocking or welcoming/allowing/creating money. First, you need to learn that you have blocks in welcoming abundance and you need to put an effort in releasing these blocks. Second, you need to think highly and wisely about money. You need to start saying to yourself affirmations such as: “My income is constantly increasing. I have a millionaire mind. I am one with an enormous amount of money. Money is fun. Money is easy. I always feel that money will come. I get paid for being me.” For you to understand these affirmations you need to start reading a lot about topics such as financial education, financial success, financial prosperity, financial abundance, financial prosperity, financial freedom, net wealth and many other related terms.

The most useful program for obtaining progress with your money is “The Spiritual Laws of Money” by T. Harv Eker. Did you find this article useful? Comment below.

Positive Words Research – Top 7 Basic Rules for Financial Prosperity

Financial Success