Money is not everything but without money it is very difficult to live life. With all good hopes and ideas we have entered in 2014. You must be looking for good money mantras of 2014, which can give you financial success.
We are herewith 14 money mantras of 2014. Following these money mantras will defiantly give you financial success in 2014.
14 Money Mantras for 2014
1.Spend Less than you earn:-
Simple but very effective mantra for 2014 you should always spend less than you earn. We see many people spending more by taking excessive loan or spending whatever they are earning. So this year avoid taking debt. Pay off your debt and start saving money.
2.Invest early and wisely:-
Second money mantra for 2014 is Invest early and wisely. You should start making investment early to take advantage compounding effect. While making investment you should be clear with investment objective, investment time and expected return.
3.Mange your time effectively:-
Time is money. This year one should decide to manage time effectively. Everyone is blessed with 24 hours a day. You should utilize this 24 hours effectively for your own benefit. You should avoid wastage of time. Time spend on non-value adding task will cost you money. This time can be utilized to research about your future investment or plan.
4.Get rid of Debt:-
This year you should take initiative to reduce or payoff high interest debt. Because debt always take away extra money from your pocket, prepayment or closing of home loan or other loan always help you to reduce your financial burden.
Also read:- Prepayment of Home Loan Good Decision
5.Involve people while taking important finance decision:-
Another money mantra for this year is you should involve people while taking important financial decision. Talk about money with your wife, close friend, relative or money expert before taking any important financial decision.
6.Don’t spend money to impress other:-
We have seen many people spend money to impress other. They keep on doing extra expense by using credit card and finally they find them in deep shit of debt. Money mantra this year is don’t spend money to impress other, evaluate your requirement carefully don’t buy things which you are not going to use.
7.Appraise your financial portfolio:-
Every quarterly you should assess your portfolio to check if any changes are required. If required take help of financial expert to make this assessment.
8.Take care of your belongings:-
Another money mantra of 2014 is you should take care of your own things. I have seen many times people not taking care of their own property, car, electronic appliance etc. Remember if you don’t spend money for taking care of your belonging later stage you will end up paying extra money.
9.Plan your Expense in advance:-
You should plan your expense in advance. Many people today take life the way it is coming instead of this we should plan our expense in advance so that we are ready for any eventualities.
10.Start earning Extra Money:-
This year you should start thinking of making extra money. Remember earning extra money will always help to achieve your goals faster.
Also Read: – 15 Smart way to earn Extra Money
11.Feed stuff to your Financial IQ:-
Another money mantra this year is start feeding extra knowledge to your financial intelligence. You can do so by subscribing to financial newspaper, magazine or financial blog.
12.Reduce your Tax Burden:-
Take home salary is always less as gross salary because we have big component tax which is coming in to picture so this year money mantra is you should find way to reduce your tax burden by taking maximum advantage of tax benefit suggested by government.
Also Read:- Tax saving Infographic
13.Hire Financial expert:-
You may be master in money management or managing finance but financial expert will always give another prospective for your financial benefit. Keeping this in mind this year you should hire good financial expert.
14.Do some Charity:-
Last money mantra of 2014 is you should do some charity. Remember charity always helps you in growing by one way or other.
If you like these money mantras of 2014 we recommend to share this with your friends and relatives!