Being healthy is essential. And while physical and emotional health is equally important to a woman’s overall wellbeing, ladies tend to forget that their finances also need pampering. When you are in an unhealthy financial position, your financial situation and money woes can cause a huge dip in your general health.
Here are ten detox tips to a healthier (and happier) financial life:
What kind of debt and how much of it do you have? Take a good look at your finances by reviewing your bank statements of the last couple of months. If your current debt is more than 20% of your net monthly income, you know you are skating on thin ice.
Plan and budget. Set up a monthly budget and schedule (to repay debts). If you don’t know where to start with a budget, you can use Zeeva’s online template or try using a phone app (to control your spending) like 22seven, JamJar, Spending Tracker or Unsplurge.
Know your credit record/score. Do you know what your current credit profile looks like? If you have no idea, don’t you think it is about time to ‘get to know’ your credit record? You can do it for free once a year. Visit: www.transunion.co.za, www.credit4life.co.za or www.experian.co.za.
Use self-discipline. Keep up to date with what is going on with your finances by checking your accounts at least once a week.
Set sensible financial goals. Write down your goals and try to reach your smaller monthly goals first. You can add your bigger/annual goals to your list (like saving for your holiday abroad) as soon as you reach a few small ones (like paying off your clothing account).
Source: www.zeeva.co.za.