Get there happy: simple rules for a prosperous life
Planning for a long life? Here are some financial strategies for living longer.
It’s never too early to start planning for your future. According to a 2018 article from CNBC, “42% of Americans are at high risk for retiring broke because of a serious lack of financial planning coupled with longer life expectancies.” We’ve decided to put together a list of things you can start doing to help plan for your long and healthy financial life.
Don’t spend all of your hard-earned cash:
This sounds like a pretty common-sense practice to live by, however, it’s not always easy to do. With commercials of trending gadgets and gizmos, the temptation can get pretty real.
How often do you come home, stressed out to-the-max from work, and you reach for your phone to order food for delivery rather than spending the time to cook yourself a meal (and save yourself cash)? Think about this next time you spend out of convenience – if you don’t live on less than you earn you will never get ahead. Finding places to cut back on your expenses is a necessary step to financial longevity. Stick to your budget, make coffee at home instead of going out, settle for the free version of Hulu. Sure, the little things only save you a few dollars at a time, but add those dollars up and look at what it could be saving you in the long run!
Build human capital:
Nowadays, work experience expectations have changed rapidly. Kids in elementary classes are being taught new-age computer skills and what was once considered high school -level math is now being taught in middle school. Building capital in your skillset and experience is necessary to get ahead of the game. Because employers are always looking for the most qualified candidate, do whatever you can to ensure that you are setting yourself up for success. Whether that’s going back to school, studying online, or gaining new workplace experience, do what you can to earn more. If you are already an expert in a specific field, expand your expertise in new horizons. Building your human capital is not only great for employment purposes, but it can help you become more successful in your personal life as well!
Make time for fun:
According to a study done by University College London in the United Kingdom, “Being happy doesn’t just increase your quality of life, it may also increase your quantity as well.” How often have you skipped that family vacation because of work? How many date nights have you canceled? Far too often people put their mental wellness on the back burner and let life tangle them up in work and stress. Are you worried about having fun while trying to save money? If you’re a big planner and you are looking to start saving for a trip a year from now, try setting aside $20 a week for a whole year. That adds up to $1,040 worth of spending money for that future trip.
Keep your mind sharp:
It may seem tedious, but keeping your mind sharp and healthy will help keep you financially fit. Start by exercising daily. A healthy body can help promote healthy thinking. Another key strategy is ensuring that you get enough rest regularly. Caffeine can only do so much for so long. And if you’re running around exhausted, you’re probably not going to make the best decisions when it comes to your finances. And to flex some brain muscles, consider picking up a puzzle every now and then. Sudokus, Crossword puzzles, and Jigsaw puzzles are fun, challenging and help keep those mental juices flowing. And if you’re curious about how sharp you are, Forbes.com offers 10 Brain Teasers that test your mental sharpness.
Ready to get starting on your journey to a long and financially-fit life? If you’re running behind the eight ball and don’t want to empty your emergency cash stash, a LendingPoint loan may be a great option.
Even if your credit score is lower than you would like it to be, you do have personal loan options. A personal loan can even help improve your credit score. By taking out one of our personal loans. you can make affordable monthly payments and build your credit story by making on-time payments each month. As you continue to make your payments on-time, you build your credibility and your credit history. Apply today!
LendingPoint is a personal loan provider specializing in NearPrime consumers. Typically, NearPrime consumers are people with credit scores in the 600s. If this is you, we’d love to talk to you about how we might be able to help you meet your financial goals. We offer loans from $2,000 to $25,000 with terms from 24 to 48 months, all with fixed payments and simple interest.