The dollar just doesn’t go as far as it used to at the grocery store, online shopping, or for Christmas gifts during the holidays like it used to. Our personal finances need a huge overhaul in 2024 and it starts with your behavior. Here’s why personal finance is dependent on your behavior more than you think.
Nobody wants to hear that if they stop buying frappes, they can suddenly put all 5 of their kids through college. It’s getting crazy out here and while cutting back will help you in your day to day budget, it won’t give your life the financial makeover it needs in these desperate times.
To change your finances, you need to change your financial behavior. Here’s what I do differently that allowed me to retire at 39 and homeschool my kids.
Invest In My Education
I invest in education to boost my earning power. Recently, I took some online courses that I hoped would increase my online business and so far it’s paying off!
My revenue is up and that means more cash flowing into my bank account. Everyone needs to budget, but I like having more money to enter into my budget calculator instead of trying to stretch a penny.
Invest in your education and land a higher paying job or boost your business.
Stop Focusing On Debt
Focus on the solution, not the problem. This took me years to master!
I used to tell myself that if I pay off this credit card or that loan, then I would have more money, but guess what? The debt always came back.
I got into a cycle of paying debt, being debt free, then right back in debt again when life happens.
When I stopped focusing on debt, and started investing more, that’s when things got really interesting.
Almost immediately after investing in a rental property (see step 1) I was earning $1,000 a month PASSIVE income without even lifting a finger.
Borrow From Family Instead of The Banks
This goes against everything Dave Ramsey talks about, but if you’re fortunate enough to have family members that can help you out, then take the help.
You’ll get a way better interest rate if any at all, and they won’t report you to the credit bureaus for missed payments.
You just better make dang well sure you make good on the loan and pay them back as fast as you can.
Yes, the borrower is slave to the lender, but I’d rather pay my family the interest than the banks.
Rethink Entertainment
I shut off my cable TV years ago, and now I mostly entertain myself and the kids with self development videos instead of mindless entertainment.
We don’t pay for Netflix and chill or any other streaming services.
It’s time people got back into their public library and borrow books instead of buying them.
Learn a new skillset or hobby. It will probably cost a fraction of what it costs for all of your streaming services.
One day soon that hobby could turn into cash or even a business. Keep reading for more ways why personal finance is dependent on your behavior.
Take Advantage of Cashback apps like GoCashback!
With GoCashBack you get money back for purchases you already plan to make online. You will even get $8 cash back just for signing up with them.
The purpose of these cashback apps is to help you get up to 40% off at major retailers. You can cash out at just $10.
@eightymphmom đź›’Grocery shopping at Lidl! #lidl #mylidl #howdoesthemylidlappwork #shrinkflation #groceryshopping #groceryhaul #howmuchfoodcost #foodcost #savemoneygroceries #buygroceries #momhacks101 #savemoney #howtosavemoney #howtosavemoneyongrocery #grocerymoney
Use Your Social Media To Earn Money Online
I know, but hear me out…
If you’re already posting photos on social media and have at least 2,000 friends and family that follow you, then why not turn your social media account into a cash machine?
I can teach you how to become a Micro Influencer by sharing products you love with your small audience.
Conclusion
I hope you understand why personal finance is dependent on your behavior more than anything else. When you continue to focus on the problem, then it has the tendency to get bigger. Focus on how to make these behavioral changes and your finances will improve. Good luck!
Follow Eighty Mph Mom on TikTok
