7 Ways To Get Ahead Financially In Today’s Economy

Our actions in every aspect of our lives will tend to follow our dominant thoughts.

Perhaps one of the biggest reasons people fail to get ahead financially is because they believe someone somewhere is deliberately sabotaging their efforts towards success.

If you are feeling lost with absolutely no vision for your financial future, chances are, you will find yourself where you are today five years from now, for as long as you don’t make a deliberate effort to start thinking differently.

To this end, here are seven things you can do to get ahead financially:

1.  Stop blaming the economy

It is all too easy to blame anything and everything on the economy. The fact is, irrespective of the state of the economy, there will always be people who are well off and those who are struggling financially.

2.  Conduct a financial self-assessment

This includes taking an inventory of how much money you have in cash, savings and investments, how much debt you carry, and how well you can adjust in the event of a loss of income.

This evaluation will help you devise strategies on how to improve your finances, based on the shortfalls you have identified that may put your financial life at risk.

3.  Be proactive and NOT reactive

Don’t wait until a crisis happens before you think of a solution. It is difficult to be productive when you are in a reactive mode.

Acquire an in-depth knowledge of the industry in which you earn your income, and make a small investment in yourself everyday towards improving yourself.

Being proactive arms you with vital insights on how to approach the various situations that may otherwise put you at the risk of destitution.

4.  Balance your check book on a regular basis

Knowing how much money you have in the bank should guide you on how much you can spend without getting into debt.

If you don’t have any money in the bank, you have to understand that you need to make cash or check deposits before you can make any withdrawals, irrespective of what your banker tells you.

5.  Plan your finances very carefully

More and more people continue to struggle today because they fail to plan their finances and somehow hope their finances will improve without their intervention.

Mastering the art of planning your finances will help you get back on track to a better financial future.

6.  Honour your financial obligations

If you are having challenges paying your creditors, approaching them and letting them know in advance can save you a lot of aggravation.

Most are willing to work with you if you explain your situation to them, and you are honest and open about the challenges you are facing. Exhibiting this willingness to repay your debts gives your creditors greater comfort than avoiding them altogether.

7.  Understand that personal growth and development precede wealth

We tend to underestimate our own capabilities and potential for achievement, especially in the face of adversity.

Unfortunately, the vast majority of people have come to accept that passionless jobs, financial struggles and mediocrity are things that merely happen to them.

It is not at all uncommon for people who don’t take any effort to improve themselves to end up broke, with feelings of unworthiness when it comes to being wealthy and living a life of abundance.

Appreciating that you have unconsciously chosen the life you are living today based on how you respond to the financial situations that confront you, is a good first step in the right direction.

You can’t expect to change your life for the better if you tenaciously cling to your erroneous thoughts and beliefs about why you are failing to get ahead financially.