A SMART Tips for Better Money Management

A Guide to Your Financial Freedom While you Work

“It’s not your salary that’s makes you rich, It’s your spending habits”  – Charles Jaffe

What is wealth? They say that it is “the state of being rich”. However, how does one become rich anyway? Well, first things first. It’s not about how much you earn. We all know that our lifestyles often adapt to income. As one’s salary grows, needs and wants go along with it. Now, the secret to having wealth is saving as you earn no matter how big or small the amount.

 Here are some 3 quick tips to accumulate wealth

  1. Follow an Effective Saving Formula 


People often make a mistake by using the SALARY – EXPENSES = SAVINGS. Remember that expenses and lifestyles may vary, so this can make people spend more and have less or even nothing left to save. With the advisable formula, you save and live simply in the moment and reap the rewards in the future. This will allow you to have enough money without having debts. Also, it gives you more security because you have money set aside in case of emergencies or other unforeseen circumstances.


       2. Let The Money Work For You.

Save money and allot it for investments that can make you more money. There are many long term investments that you can choose from. Learn about each one of them and choose one that you understand the most.  Otherwise, you will be shooting blanks and it will be as if you just gambled at the casino.

Different Kinds of Investments


Bonds have scheduled fixed interest payments that allow you to have a foreseeable income. It also has a maturity date wherein your principal will be returned. Having it in your investment portfolio lowers the risk of instability.


Stocks are investments that give you rights of ownership in a corporation. It allows you to have a stake when it comes to assets and earnings. It is traded in units called shares. Many prefer this type of investment because it is accessible and something you can do yourself. If you have the gift of seeing a company’s potential it can give you greater returns as their success is your success.

Mutual Funds

Mutual funds consist of “pooled money that is invested into assets”. It is cost-effective, due to the fact that you can invest in small amounts. Another advantage is that it is managed by professionals who are familiar with the business, so there is variation in investments.

Forex Trading

Forex Trading is when one foreign currency is exchanged for another. This form of investment has high returns and you can trade in your own time because the market is open 24/7. You can even make small investments and earn on a daily basis.

Exchange Traded Fund (ETF)

ETFs are single investments comprised of stocks and bonds. It helps you diversify your investment portfolio. It is also easy to trade and has lower costs.

     3. Invest in Financial Literacy

Acquiring knowledge when it comes to savings, finances and investment options will allow you to acquire wealth and build it.

Many think that it is impossible to be a millionaire at a young age but many have done it. Aside from managing your finances properly, here are some tips!

    Don’t show off.

Many live the high life and end up having debts and zero savings. By living a simple life and maximizing savings to increase wealth you are assured of a comfortable debt free future.

    Save and invest.

Set aside or grow your money so you can invest more. It’s simple. More investments equal to more income.

According to Bill Gates, “If you’re born poor, it’s not your mistake. But if you die poor, it is your mistake.”

This means that the secret to your success is up to you. While your an employee or self-employed nowadays, it is time to move forward and be positive that this year 2017 will be a better year. Make big dreams and start taking steps to improve your spending habits and to have better stewardship when it comes to finances.

So now, think about your future and start the race towards our financial freedom!