{"id":470,"date":"2018-04-02T11:34:00","date_gmt":"2018-04-02T18:34:00","guid":{"rendered":"https:\/\/www.thefundfamily.com\/?p=470"},"modified":"2018-07-16T20:18:51","modified_gmt":"2018-07-17T03:18:51","slug":"five-tips-for-financial-success","status":"publish","type":"post","link":"https:\/\/trevorrumsey.com\/thefundfamily\/five-tips-for-financial-success\/","title":{"rendered":"Five Tips for Financial Success"},"content":{"rendered":"
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We have been asked a lot lately about our “tips and tricks” to financial success, and although we have no “get rich quick” scheme or ways of becoming an millionaire overnight, we do have a few tried and true tips that have helped us to keep on track financially and become successful.<\/div>\n
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Set financial goals and ask yourself Why<\/b><\/h3>\n

With any area of my life, I have found it is very important to set goals. In the case of finances, you want to make sure you have purpose behind your penny pinching. If not, you will find that you fail so much more easily because there is no purpose or reasoning behind it! When we had debt, our reason for frugality was to be able to pay off the debt as quickly as possible. Since we\u2019ve been debt-free<\/a>, our reasons have become a little more fun, such as saving to buy a home, travel and vacations<\/a>, and making memories.<\/p>\n

Create a budget and check in with it!<\/b><\/h3>\n
We have talked before about the importance of a budget and how to successfully create one<\/a>, but it will not do you any good if you the only time you ever use it is when you make it! It is so important to check in with your budget often to make sure you are both staying accountable and on track.<\/div>\n
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Use the envelope system<\/b><\/h3>\n

We have also discussed just how helpful and effective the envelope system<\/a> is before, but want to reemphasize just how much it will help you to be successful in your finances! It helps you take control of your spending and be more conscious of where your money is going. There was a study done that shows consumers who pay with credit cards focus more on the benefit of their purchase, while those who pay cash concentrate more on its cost. That is because there is an emotional pain associated with handing over physical currency, as opposed to swiping a credit card where that money is out of sight and out of mind. There are so many benefits to using the envelope system and I strongly encourage you to look more into it here!<\/p>\n

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Look at every purchase as an investment<\/b><\/h3>\n
When you are making any sort of purchase, it is important to not mindlessly consume. You should make sure there is a purpose to your purchase, that it is adding value to your life and is worth holding onto. This applies for things as small as clothing or home goods, as well as big purchases like a car or home!<\/div>\n
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Identify your spending weaknesses and address them!<\/b><\/h3>\n

By having a budget and tracking your spending you should be able to account for every dollar. Take a look at your expenses and see where you are unnecessarily spending. For some this is picking up unplanned and unnecessary items at the grocery store, online shopping, or buying a soda every day. Whatever your weakness may be, come up with a few ideas on how to combat them. If you find yourself always throwing extra things in the shopping cart at the grocery store, maybe try ordering your food online and picking it up! This way you track your spending while you shop and can resist impulse buys. If online shopping is your downfall, try unsubscribing from the shopping email lists, or following shops on social media that make you want to spend spend spend!<\/p>\n

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Read books or listen to podcasts that will help educate and motive you financially<\/b><\/h3>\n
There is something to be said about surrounding yourself with the sort of people and things that inspire, motivate and represent how and who you want to be. That is why I think it is so important to consume media that does this as well! Here is a list of a few of our favorite books and podcasts that we recommend!<\/div>\n
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PODCASTS<\/strong><\/div>\n
Choose FI with Brad Barrett and Jonathan Mendonsa<\/div>\n
Journey to Launch with Jamila Souffrant<\/div>\n
Bad With Money with Gabby Dunn<\/div>\n
Smart Passive Income with Pat Flynn<\/div>\n
The Dave Ramsey Show with Dave Ramsey<\/div>\n
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BOOKS<\/strong><\/div>\n
The Millionaire Next Door by Thomas J. Stanley and William D. Danko<\/a><\/div>\n
The Simple Path to Wealth by JL Collins<\/a><\/div>\n
The Big Short by Michael Lewis<\/a><\/div>\n
The Total Money Makeover by Dave Ramsey<\/a><\/div>\n<\/div>\n
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These are just a few of our tried and true tips and tricks that have helped us over the years. We would LOVE to hear your thoughts, opinions, tips and what has worked for you! Leave us a comment below so we can interact and learn together!<\/div>\n
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We have been asked a lot lately about our “tips and tricks” to financial success, and although we have no “get rich quick” scheme or ways of becoming an millionaire …<\/p>\n","protected":false},"author":2,"featured_media":475,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[4,9,48,2],"tags":[30,23,13],"class_list":["post-470","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-becoming-wealthy","category-budgeting","category-finance","category-rumsey","tag-avoiding-debt","tag-budget","tag-success"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/trevorrumsey.com\/thefundfamily\/wp-content\/uploads\/2018\/04\/5-tips-finance-success.jpg?fit=1200%2C627&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9yM2e-7A","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/trevorrumsey.com\/thefundfamily\/wp-json\/wp\/v2\/posts\/470","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/trevorrumsey.com\/thefundfamily\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/trevorrumsey.com\/thefundfamily\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/trevorrumsey.com\/thefundfamily\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/trevorrumsey.com\/thefundfamily\/wp-json\/wp\/v2\/comments?post=470"}],"version-history":[{"count":5,"href":"https:\/\/trevorrumsey.com\/thefundfamily\/wp-json\/wp\/v2\/posts\/470\/revisions"}],"predecessor-version":[{"id":489,"href":"https:\/\/trevorrumsey.com\/thefundfamily\/wp-json\/wp\/v2\/posts\/470\/revisions\/489"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/trevorrumsey.com\/thefundfamily\/wp-json\/wp\/v2\/media\/475"}],"wp:attachment":[{"href":"https:\/\/trevorrumsey.com\/thefundfamily\/wp-json\/wp\/v2\/media?parent=470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/trevorrumsey.com\/thefundfamily\/wp-json\/wp\/v2\/categories?post=470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/trevorrumsey.com\/thefundfamily\/wp-json\/wp\/v2\/tags?post=470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}