Home Money Top Ten Financial Tips

Top Ten Financial Tips


Keys to Financial Success Although making resolutions to improve your financial situation is a good thing to do at any time of year, many people find it easier at the beginning of a new year. Regardless of when you begin, the basics remain the same. Here are my top ten keys to getting ahead financially.

1. Get Paid What You’re Worth and Spend Less Than You Earn

It sounds simplistic, but many people struggle with this first basic rule.

Make sure you know what your job is worth in the marketplace, by conducting an evaluation of your skills, productivity, job tasks, contribution to the company, and the going rate, both inside and outside the company, for what you do. Being underpaid even a thousand dollars a year can have a significant cumulative effect over the course of your working life.

No matter how much or how little you’re paid, you’ll never get ahead if you spend more than you earn. Often it’s easier to spend less than it is to earn more, and a little cost-cutting effort in a number of areas can result in big savings. It doesn’t always have to involve making big sacrifices.


2. Stick to a Budget

READ  Does Skill Really Matter in Stock Market Investing?

One of my favorite subjects: budgeting. It’s not a four-letter word. How can you know where your money is going if you don’t budget?

How can you set spending and saving goals if you don’t know where your money is going? You need a budget whether you make thousands or hundreds of thousands of dollars a year.


3. Pay Off Credit Card Debt

Credit card debt is the number one obstacle to getting ahead financially.

Those little pieces of plastic are so easy to use, and it’s so easy to forget that it’s real money we’re dealing with when we whip them out to pay for a purchase, large or small. Despite our good resolves to pay the balance off quickly, the reality is that we often don’t, and end up paying far more for things than we would have paid if we had used cash.


4. Contribute to a Retirement Plan

If your employer has a 401(k) plan and you don’t contribute to it, you’re walking away from one of the best deals out there. Ask your employer if they have a 401(k) plan (or similar plan), and sign up today. If you’re already contributing, try to increase your contribution. If your employer doesn’t offer a retirement plan.

READ  How To Save Money And Accumulate More Wealth

5. Have a Savings Plan

You’ve heard it before: Pay yourself first! If you wait until you’ve met all your other financial obligations before seeing what’s left over for saving, chances are you’ll never have a healthy savings account or investments. Resolve to set aside a minimum of 5% to 10% of your salary for savings BEFORE you start paying your bills. Better yet, have money automatically deducted from your paycheck and deposited into a separate account.

6. Invest!

If you’re contributing to a retirement plan and a savings account and you can still manage to put some money into other investments, all the better.


7. Maximize Your Employment Benefits

Employment benefits like a 401(k) plan, flexible spending accounts, medical and dental insurance, etc., are worth big bucks. Make sure you’re maximizing yours and taking advantage of the ones that can save you money by reducing taxes or out-of-pocket expenses.


8. Review Your Insurance Coverages

Too many people are talked into paying too much for life and disability insurance, whether it’s by adding these coverages to car loans, buying whole-life insurance policies when term-life makes more sense, or buying life insurance when you have no dependents.

On the other hand, it’s important that you have enough insurance to protect your dependents and your income in the case of death or disability.

READ  When She Earns More


9. Update Your Will

70% of Americans don’t have a will. If you have dependents, no matter how little or how much you own, you need a will. If your situation isn’t too complicated you can even do your own with software like WillMaker from Nolo Press. Protect your loved ones. Write a will.

10. Keep Good Records

If you don’t keep good records, you’re probably not claiming all your allowable income tax deductions and credits. Set up a system now and use it all year. It’s much easier than scrambling to find everything at tax time, only to miss items that might have saved you money.


Reality Check

How are you doing on the top ten list? If you’re not doing at least six of the ten, resolve to make improvements. Choose one area at a time and set a goal for incorporating all ten into your lifestyle.

Subscribe to TN Daily!

Follow us on twitter @topnaija.

Copyright 2017 TopNaija.ng. Permission to use quotations from this article is granted subject to appropriate credit being given to www.topnaija.ng as the source.
Previous articleWhat Motivates You In Your Small Business?
Next articleSMART Goal Setting Tips For Small Business Owners

I’m a proactive and smart problem solver. An accountant by profession,
social media savvy and passionate about business development. Find me
at the corner where technology meets social impact | Akintunde Oyedokun
is a Staff Reporter at TopNaija.ng


  1. I truly wanted to type a simple remark so as to thank you for some of the superb guides you are giving out on this website. My particularly long internet research has now been recognized with pleasant facts and strategies to share with my family members. I would believe that many of us visitors actually are quite fortunate to be in a very good community with very many perfect individuals with great points. I feel very much fortunate to have seen your web page and look forward to really more brilliant times reading here. Thanks a lot once more for everything.

  2. I together with my pals came checking the nice points found on your web site and then all of the sudden developed an awful feeling I had not expressed respect to the web blog owner for them. Most of the women were for that reason stimulated to learn all of them and now have in fact been taking advantage of them. Many thanks for turning out to be very helpful and also for choosing such brilliant ideas most people are really eager to be aware of. My honest apologies for not expressing appreciation to you earlier.

  3. I have to express some thanks to the writer just for rescuing me from this trouble. Right after scouting throughout the the net and getting opinions which are not beneficial, I thought my life was done. Existing without the answers to the issues you have sorted out by way of your entire short article is a critical case, and those which may have in a negative way damaged my career if I hadn’t discovered the blog. Your own natural talent and kindness in touching the whole thing was helpful. I don’t know what I would have done if I had not come upon such a step like this. I can also at this moment relish my future. Thanks very much for this specialized and amazing help. I will not hesitate to endorse the sites to anybody who would need guide about this subject.

  4. I simply had to thank you very much once again. I’m not certain the things I might have followed in the absence of these secrets documented by you about my concern. It was a frightening matter for me personally, but observing this specialized approach you managed the issue forced me to jump with delight. Now i’m happier for the service and even hope that you really know what a great job you were carrying out training other individuals using a site. I am sure you have never encountered any of us.

  5. I together with my buddies came viewing the excellent tips and hints on your web site while before long I got a terrible feeling I never thanked you for them. The young boys came for that reason passionate to see all of them and now have surely been taking advantage of them. Thanks for genuinely simply helpful and also for deciding upon some really good subject areas most people are really wanting to understand about. My personal honest regret for not saying thanks to you earlier.

  6. I simply wished to appreciate you yet again. I am not sure the things that I could possibly have gone through in the absence of the actual creative concepts documented by you on that topic. This was a very scary matter in my circumstances, but coming across your specialized technique you handled that made me to weep over delight. I’m thankful for the service and then have high hopes you are aware of an amazing job you are undertaking training other individuals through the use of your webblog. I am certain you haven’t got to know any of us.

  7. A formidable share, I just given this onto a colleague who was doing somewhat analysis on this. And he in truth purchased me breakfast as a result of I found it for him.. smile. So let me reword that: Thnx for the deal with! But yeah Thnkx for spending the time to discuss this, I really feel strongly about it and love studying more on this topic. If possible, as you turn into expertise, would you thoughts updating your weblog with more particulars? It is extremely helpful for me. Huge thumb up for this blog publish!

  8. I must show my passion for your generosity in support of individuals who require guidance on that area of interest. Your special commitment to getting the solution around had become amazingly informative and have truly empowered associates like me to arrive at their ambitions. Your entire warm and helpful tips and hints entails so much to me and far more to my office colleagues. Thank you; from all of us.

  9. Needed to send you one tiny observation to finally say thank you again for these beautiful tips you have contributed at this time. This is simply unbelievably open-handed with you to give easily all a lot of folks could have marketed as an ebook to earn some dough on their own, precisely considering the fact that you might have done it if you decided. The tricks also acted like the easy way to be sure that some people have similar dreams just like my very own to figure out a whole lot more when considering this issue. I am sure there are thousands of more pleasant situations in the future for individuals that read carefully your blog post.

  10. Hello! I could have sworn I’ve been to this blog before but after reading through some of the post I realized it’s new to me. Anyways, I’m definitely happy I found it and I’ll be bookmarking and checking back frequently!

  11. I’m commenting to let you be aware of of the beneficial encounter my friend’s daughter went through viewing your web page. She discovered a good number of details, with the inclusion of what it’s like to possess a wonderful coaching spirit to have others clearly know just exactly specified tortuous subject matter. You undoubtedly surpassed visitors’ expectations. Thank you for giving these essential, trustworthy, educational as well as unique guidance on your topic to Kate.

  12. I would like to show my admiration for your kindness in support of individuals that actually need help on this particular topic. Your real dedication to passing the solution all through had become quite beneficial and have without exception enabled men and women like me to achieve their objectives. Your amazing warm and friendly instruction indicates a great deal to me and even further to my office colleagues. Many thanks; from each one of us.

  13. I’m writing to let you know what a great discovery my cousin’s daughter gained using your webblog. She realized too many issues, most notably how it is like to possess a very effective giving mood to let other individuals smoothly thoroughly grasp specific advanced subject areas. You actually exceeded visitors’ desires. Thank you for showing such essential, healthy, educational not to mention easy thoughts on this topic to Kate.

  14. I simply wanted to write down a comment to be able to express gratitude to you for some of the splendid facts you are posting on this site. My considerable internet search has at the end of the day been honored with really good strategies to write about with my colleagues. I ‘d say that most of us site visitors are definitely lucky to be in a really good community with many brilliant individuals with beneficial methods. I feel really fortunate to have seen your entire web page and look forward to really more amazing times reading here. Thanks once more for a lot of things.

  15. Thank you a lot for giving everyone such a marvellous chance to read in detail from this web site. It is often so lovely and as well , full of amusement for me personally and my office acquaintances to visit your site more than thrice in one week to study the newest stuff you have got. And definitely, we’re certainly impressed with the gorgeous strategies served by you. Certain 2 ideas in this posting are surely the best we’ve ever had.

  16. Needed to send you a little observation to finally thank you once again over the unique views you have featured in this case. It’s really surprisingly generous with people like you to deliver publicly all a lot of people could possibly have advertised for an e-book to end up making some dough for their own end, notably given that you might have done it in the event you considered necessary. Those things as well served as the fantastic way to fully grasp that some people have similar fervor the same as my personal own to know a lot more when it comes to this issue. I am sure there are many more pleasurable periods up front for those who view your blog post.

  17. I wanted to write down a small message in order to thank you for those splendid guidelines you are giving out here. My time intensive internet search has at the end of the day been honored with incredibly good information to share with my family members. I ‘d mention that most of us website visitors are extremely fortunate to exist in a decent website with so many brilliant professionals with insightful tips. I feel pretty privileged to have encountered your web site and look forward to plenty of more cool times reading here. Thanks once again for a lot of things.

  18. I precisely needed to appreciate you yet again. I am not sure what I might have made to happen in the absence of the information shown by you about my topic. This has been an absolute traumatic dilemma in my view, but witnessing a specialized technique you processed the issue made me to jump with delight. Now i’m thankful for this assistance and even hope you find out what a powerful job that you’re carrying out teaching the others through the use of a blog. I am certain you’ve never met any of us.

  19. I am just commenting to let you understand of the awesome encounter my princess had visiting your blog. She noticed several things, which include what it’s like to have an excellent coaching nature to have the rest completely thoroughly grasp specified extremely tough things. You actually did more than people’s expectations. Thanks for coming up with the good, safe, edifying and easy guidance on your topic to Gloria.

  20. I simply had to thank you very much all over again. I do not know the things I might have gone through without the tricks shared by you concerning such a topic. This has been a traumatic crisis for me personally, nevertheless considering your well-written mode you solved it took me to jump with contentment. Now i’m happier for your help and in addition expect you know what a powerful job your are doing instructing others all through your web blog. More than likely you’ve never got to know all of us.

  21. I and my buddies ended up reading the good key points on your site while the sudden came up with a horrible suspicion I had not expressed respect to the website owner for those secrets. Most of the guys were as a consequence joyful to learn them and have in effect very much been using those things. I appreciate you for indeed being indeed considerate and then for making a decision on these kinds of perfect subject matter most people are really desirous to learn about. Our sincere apologies for not expressing gratitude to sooner.

  22. I am just commenting to let you be aware of what a brilliant discovery my daughter experienced using yuor web blog. She mastered plenty of things, not to mention how it is like to possess an ideal coaching character to let the others easily thoroughly grasp certain advanced subject matter. You actually exceeded my expectations. Many thanks for supplying such precious, trusted, educational and also fun thoughts on the topic to Ethel.

  23. A person essentially help to make seriously articles I would state. This is the very first time I frequented your website page and thus far? I surprised with the research you made to create this particular publish amazing. Magnificent job!

  24. A lot of thanks for your whole labor on this site. Debby delights in working on research and it is easy to see why. I hear all of the powerful method you convey valuable things through your website and as well welcome contribution from some other people on this topic plus our favorite child is really becoming educated a whole lot. Take advantage of the remaining portion of the new year. You’re performing a glorious job.

  25. I precisely had to appreciate you again. I’m not certain the things I would’ve done in the absence of the entire techniques shown by you regarding my situation. This has been the frightening circumstance for me, however , being able to see a skilled avenue you resolved it forced me to cry over joy. I’m thankful for your information as well as have high hopes you recognize what an amazing job you have been undertaking instructing others via your blog post. I am sure you have never come across all of us.

  26. My spouse and i have been quite cheerful Emmanuel could conclude his researching using the ideas he made from your web pages. It is now and again perplexing to just possibly be giving freely strategies which often many others have been making money from. And we consider we have the writer to appreciate for that. All the explanations you made, the simple web site navigation, the relationships you will make it possible to foster – it’s most amazing, and it’s leading our son and our family recognize that that subject matter is interesting, which is certainly tremendously fundamental. Many thanks for all!

  27. I am really intrigued to discover what site system you’re using? I am experiencing some small protection difficulties with our latest website regarding orthodontist and I’d like to find a thing a lot more safe. Have you got any strategies?

  28. I together with my pals appeared to be analyzing the nice techniques found on the blog while at once I got a terrible suspicion I had not thanked the blog owner for those strategies. My boys are actually as a result passionate to learn all of them and have unquestionably been tapping into them. Appreciate your genuinely so accommodating and also for picking out this kind of fine topics most people are really desperate to be informed on. My very own honest apologies for not expressing appreciation to you sooner.

  29. I in addition to my pals were actually examining the great techniques from the website and then then came up with a horrible feeling I had not thanked the web site owner for those techniques. My ladies were for that reason excited to see them and now have in reality been tapping into these things. I appreciate you for really being simply thoughtful as well as for pick out varieties of magnificent subject matter millions of individuals are really needing to learn about. My personal sincere regret for not expressing gratitude to you earlier.

  30. A lot of thanks for your own labor on this site. Debby takes pleasure in conducting investigations and it is simple to grasp why. A lot of people notice all concerning the powerful means you produce sensible information by means of this website and as well as improve response from website visitors on that content plus our own child is studying a great deal. Take advantage of the remaining portion of the year. You’re the one doing a dazzling job.

  31. I together with my pals happened to be checking out the nice tips and tricks from the website then all of a sudden I had a terrible suspicion I never thanked the web blog owner for those tips. All the boys appeared to be so very interested to learn them and have now absolutely been making the most of these things. Thanks for indeed being simply kind as well as for making a decision on certain outstanding guides most people are really wanting to be informed on. My personal sincere regret for not expressing appreciation to earlier.

  32. I not to mention my guys ended up reading the great items located on your web page and so instantly got an awful suspicion I had not expressed respect to the web blog owner for those techniques. Most of the young boys are actually as a result excited to read them and now have actually been taking advantage of those things. Appreciate your really being indeed accommodating and for picking varieties of superb subject matter most people are really eager to be informed on. My personal honest apologies for not saying thanks to you sooner.

  33. My family and I absolutely enjoy your blog and find a lot of the blogposts to be precisely what I am seeking. Do you offer people to post articles for you? I would not mind producing a piece of text relating to hd movies online or on a few of the subjects you write about on this website. Nice internet site!


Please enter your comment!
Please enter your name here