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Controlling Your Financial Destiny

We all have different relationships with money.  Some of us are incredibly cautious, and we watch our accounts with an eagle eye.  Others will have a much more relaxed approach.  Whatever your attitude to your finances, there’s no doubt that it often pays to keep an eye on how much you’re saving and spending.  At the end of the day, we all want to have control of our financial destiny.  If you’re starting to think about the future and you’d like to be more organised when it comes to money, you’ve come to the right place.  The first thing to consider:

What is Your Current Financial Situation?

You can’t start trying to control the future without first finding out more about your financial situation.  If you’re the kind of person who never checks their online balance or you don’t keep track of how much cash you’ve taken out and what you’ve earned this month, it may be time to take stock of what’s going on.  Start by checking all your balances.  This includes any savings accounts, current accounts and credit cards you have.  Write everything down, and this will give you an idea of what you have saved, how much you owe (if anything) and what you have available to spend before your next pay cheque arrives.  It can be daunting to log into those online accounts and look at the figures, but the sooner you do it, the better.  If you have debts, try and pay them off before you start saving.  There’s no point in putting money into an account every month if you’re paying interest on a credit card, for example.

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Protecting Your Assets and Investments

When you work hard to earn money, you want to make sure that your assets are protected.  Take buying a house, for example.  The last thing you want to do is lose everything if your home is broken into or find yourself in a bitter battle for your share if you break up with a partner.  Taking out insurance policies and taking steps to protect yourself if you’re cohabiting can help to prevent you from losing money.  Whether you’re married or not, and you decide to separate, drawing up a separation agreement may be an option worth considering.  This way, you can decide who gets what and reach a solution that benefits both parties.  It’s not just a house that you need to protect.  If you own a car or a business, the same rules apply.  Make sure you have the relevant insurance policies and check the legalities if you have joint ownership with a partner or spouse.

Planning for the Future

Nobody knows what the future holds.  Hopefully, it will be bright, but life isn’t always a bed of roses.  Save when you can and try and set up an emergency fund. Pay into your pension pot and make sure you have insurance that will protect you if you become ill or provide a nest-egg for your family if you pass away. It’s not the cheeriest subject matter, but it is best to plan for the future and cover all eventualities.

Are you ready to take control of your financial destiny?

If so, hopefully, this post will get you off to a flying start.

Photo credit Pixels and Pixabay.

This Post Has 26 Comments

  1. Making sure you are in control of your finances can be a scary thing, especially if you know you are out of control with them. I have to admit I’ve been in a bad place with it and now I try to only spend what I have.

    1. I am glad to hear you are watching what you spend it can be so easy to lose track.

  2. It’s so important to consider all of these things in controlling your finances. Keeping track of your spending and your debt, while making sure to have an emergency fund are very important points. I know this became so much more important for me once I had children and needed to make sure their futures were secure should something happen to my husband or me. Having adequate insurance is one way that we have prepared for this.

    1. It is even more important once you have children to make sure you control your finances. Insurance can really make a difference.

  3. My current financial situation is diabolical but I am hoping that will change for the better. It is always good to look at the future x

    1. I hope it improves for you soon.

  4. Really import to think about your financial situation, some great tips here to help people to do so.

    1. Thanks it’s important to make sure people are aware of options.

  5. I’m so glad we have never had a credit card think we would of been upto our eyes in debt

    1. I know people that have done that and had problems after.

  6. I do want to get myself into a better situation with my finances, while I have savings I’d love to be able to invest a bit x

    1. It’s great to invest where you can, good luck with that 😉

  7. I haven’t always been in control of my finances but now I am, it’s the best feeling! x

    1. It sure is, I’d hate the stress of it otherwise.

  8. I got my husband to help me control my financial destiny! haha. Anyway thank you for writing this as more people need to look after their money. xx

    1. That’s handy, my hubby is rather useful in that field too 😉

  9. Keeping track of your finances is so important, great guide to help 🙂

  10. Thank you for this post, it’s super helpful. Being in control of your finances is so important!

  11. Great tips!!! I need to have more control of my finances it’s something I am really working on this year. Thanks for sharing this post its very helpful!!


    1. Glad to have helped it is very important to keep onto of this.

  12. Some nice tips there. I always try to save money in the start of month and invest in stable assets. But I will admit I learnt a hard way too 🙂

    1. It is a lesson many learn the hard way unfortunately.

  13. I am just sorting all my finances out at the moment, I think budgeting is the best thing you could do and that is something I’m working on to be better at!

    1. I think we all need to keep on top of our finances as we d slip once in a while.

  14. This is such an import thing to be in control of…..But it’s scary too! I hate thinking about finances and the future xo

    1. Iknow but it is best t be prepared 😉

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