Finance News

The Golden Rules For Financial Health


We know that wage growth is often far behind the increase in living costs. Young professionals, growing families, and even those who have enjoyed years of financial stability can start struggling with their finances. Here are some golden rules to improve your financial health. 


“Do not save what is left after spending; instead, spend what is left after saving.” Warren Buffet imparts this wisdom, and while it might take some time to get into this mindset, it isn’t impossible. The best moment to start saving is right now. It is important that you create a budget so that you can see what you have coming in, and what is going out. 

Many financial experts recommend that you should have at least 3 months worth of wages in your savings account. However, you can take as long as you need to build that up. 

Where possible use automatic saving apps, they work out what you can afford to save, and put it in a savings account for you. 

When you make the commitment to saving, you might have a few months that feel particularly tight. However, knowing you have an emergency cash pot can make you feel incredible. 


We all have moments where you have unexpected expenses, and sometimes they arrive before you have managed to build up that buffer. Depending on the reason for the emergency, you might be able to call in friends and family to help. Seek out YouTube tutorials to help you repair the item, or use to help bridge the financial gap. 

Asking for help isn’t always easy, but you might be surprised just how many options you have when asked. When you have poor credit or other outstanding loans it can feel like you are out of options – most often you are not. 


Ask for what you are worth or more. Millions of people don’t ask for a pay rise, because it can be a daunting conversation. However, if you approach it with a number, and are prepared to have an open dialog with your work you might just find they are prepared to offer more. 

Could you be doing a little bit more? Most likely yes. We all have skills that are valuable to others. It might be writing copy, it could be photography, or it may be graphic design. There are plenty of online portals that have businesses that are looking to hire people on an ad-hoc basis. 

Extra work can give another stream of income, which can be used to increase the rate at which you are able to save. 

Here are a number of options for finding extra work online:

  • Upwork
  • Freelancer
  • LinkedIn
  • Fiverr
  • People Per Hour 

Set a price you are happy with and pitch for contracts in your spare time. Set a monthly goal for your income, and anything extra you have earned can be put into your savings pot. Just remember that you need to declare the extra income to the correct tax officials. 

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