(Written by Zach Holz, posted by Sebastien Aguilar)
Money. We stress about it, we moan about it, we hustle after it. Everyone needs it, yet most people don't really know how to get and keep more of it. The kind folks at SimplyFI have you covered. SimplyFI is a non-profit Financial Independence group of life maximizers who come together in person and online to help one another become wealthy and happy. We aren't selling anything and we don't want a list of ten of your friends; we really just want to help people reach their financial goals and find like minded individuals who want more than just a life driven by buying more and more stuff.
On February 16, SimplyFI is holding a free event where three of their board members, Zach Holz, Steve Cronin, and Tuan Phan will share their best advice to help you earn more money, save a larger chunk of it, get out of debt, and avoid financial salespeople who just want to take your hard earned cash. It will be fun, it will be exciting, and it might just change your relationship with money.
In the spirit of that event, here are 6 great tips to get you started in earning more, saving more, getting rid of debt, and avoiding being ripped-off.
Tip 1 (Saving and Spending): Track your spending with a Spending Tracker App. There are lots of them, but "Spending Tracker" is great and free on both iOS and Android. It takes 30 seconds a day to figure out where your money is going so you can make better choices with it. As they say, if you don't track it, you can't fix it.
Tip 2 (Income): Let your obsessions drive your side hustles. Making money from what you love allows you to do and grow in that area, as well as giving you extra income to help reach your financial goals.
Tip 3 (Not Getting Ripped-Off): Talk about money! The more you discuss, with friends, with family, at work or on the SimplyFI Facebook page, the more you'll learn and most importantly, the less likely you will fall for a scam..!
Tip 4 (Saving): Save during the good times so you have something to carry you through the bad times. Have between 3-6 months savings on hand in case of emergency. Lifestyle inflation is your biggest enemy in the UAE!
Tip 5 (Spending): Remember to invest in your own happiness. Spend on things that make you and others happy such as experiences like travelling, learning/ education, and helping others. Life is short!
Tip 6 (Debt): Pay off your credit card debt in full every month without fail. The interest rate on this debt is so high (more than 40 per cent a year!) that you should prioritize it above paying more than the minimum on other debt.
If you want to learn more great tips, or just meet people who are interested in the same financially successful lifestyle go to the event page for your free tickets! Our events fill up quickly, so make sure you register so you can be assured of a seat!
--
Zach Holz is a board member at SimplyFI.org. He is also "The Happiest Teacher" and writes at www.thehappiestteacher.com as well as for The National.