In our experience we have found that there are two major things that will bring great success to one’s finances. Curious to know what they are?
Since we at A Step Above Style value your time (and because you already know why you’re here) we’ll jump right in.
Let’s begin.
The Two Keys
Automation
Whether it’s bills, debt repayments, investing, or saving, automation is your friend.
One thing to keep in mind when paying credit cards is to always automatically pay the amount that would either :
- Pay off your card completely
- Keep you from paying interest
When it comes to saving and investing you should automatically set aside a amount that is lower than you think.
By that we mean select a number that you can consistently save or invest without “hurting” your pockets. Instead of saving $100 a week, aim for $75, or $50.
That way you can start and keep going. Don’t try and get to your goal overnight.
“Financial success is a marathon not a race”.
-ASAS Words of Wisdom
Delayed Gratification
Delayed gratification can be summed up in two words :
“Not now”.
-Summary of Delayed Gratification
It’s been said that many smokers have broken their bad habits by simply saying “not now” when the urge came to reach for that pack of cigarettes.
Note: The trick to using this key is to tell yourself “not now”. You don’t have to completely deny yourself and say “no”.
Just take some time between when that urge arises to spend money, and when you actually spend it. A popular method is waiting between 24 to 48 hours to see if you still want that item after the allotted time.
Conclusion
Through personal experience we have seen the benefits of utilizing these two keys.
Automation has allowed for bills to consistently get paid on time, investment accounts to grow, and credit cards to remain paid off.
Delayed gratification has allowed us to identify what things truly matter to us, and what things are getting purchased merely out of boredom.
Try utilizing these two keys in your financial journey today. You may be surprised to see the incredible results.
Until next time, y’all have a good one.
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