By Lina Martinez
Worrying about money is one of the biggest challenges we face in our life. It can make us stressed out and can even lead to depression. In fact, two in three people worry about money every day. Therefore, you need to make sure you stay in good financial order to stay happy. Here are some financial changes you need to make in your life to make you happier.
You need to get rid of your credit card
One unmissable financial change in your life to make you happier is you need to get rid of your credit card. Credit cards are good for building up your credit history. However, they can lead to stress if you don’t keep on top of paying them back. It can be a lot of pressure trying to keep up with the minimum payments. Once people have one card, they are likely to go and get another credit card. Therefore, if you feel you can’t be responsible with a credit card, it’s time to get rid of it. You will feel a lot happier if you don’t have the strain of a credit card to pay for!
You need to invest to stop you spending
Another unmissable financial change in your life to make you happier is you need to invest. It will ensure that you have more money in the future. If you keep extra money in your bank account, you are likely to spend it unnecessarily. Therefore, invest in something so that you have money for your future. As this feature says, you should try and invest 10% to 15% of your income in stocks every month. It will mean you have money in the long-term and will be a lot happier.
You need to have affordable mortgage repayments
An additional unmissable financial change in your life to make your happier is you should consider selling up. If you are finding the current mortgage repayments are not affordable, and you are thinking ‘i wish i could sell my house,’ it’s time to do so. Having a smaller house with more affordable mortgage repayments will make you a lot happier in your life. You don’t want to get in a position with your current home where you are missing payments and could lose your home. Therefore, consider selling up today and take some financial pressure away.
You need to reconsider your employment
Another unmissable financial change in your life to make you happier is you need to reconsider your employment. You need to ensure you are making a good livelihood, so you are financially secure. You can read our previous blog to find out if you are being paid a good wage. If you aren’t happy with your wage, you should talk to your boss about putting up your wage. If they won’t consider it, you should change jobs to something more financially rewarding. You will be a lot happier when you have money in the bank.
You need to start saving for your retirement now so that you will be happier in the future. You might feel like it’s ages away, but it’s so important to protect yourself, so you have funds when you are older. You should be putting at least $50 a month in a savings account.
Lina Martinez has her B.S. in journalism and is a contributor to our politics, life and money pages. She once admitted over drinks to singing "Careless Whisper" in the shower. We are still trying to get her to sing it at karaoke.