Money Star Tips
GENISTAR’S MONEY STAR TIPS
At Genistar we believe that anyone can become a star at handling their finances. Follow these Money Star tips to get started.
Organise your finances
Organise your financial clutter. Gather all your documents in one place so they are easy to locate. Organise them on your computer, in an app, or in a physical folder – whatever suits you. The main thing is to have them together and easily accessible.
Track your spending
Find out where your money goes. Jot down how much you spend, what it’s for and the circumstances. Each evening reflect on your spending. After 30 days you’ll have a clear picture of your spending habits and be able to identify any spending triggers.
Read more about this 30-day tracking exercise here.
Set your money goals
Setting financial goals helps you focus and gives you direction. But a goal with no plan is just a wish. Identify your goal, then plan the steps you will take to reach it. Plot them on a chart so you can track your progress.
Read Goal Setting in 8 Easy Steps here
Cut the ‘fat’ from your budget
Examine your financial situation alongside your goals. Carefully look at each expense; would you be willing to give it up in order to achieve your goals? Genistar’s Fat Finder tool is designed to help you identify the ‘fat’ in your spending so you can cut it out:
Fat Finder Budgeting Tool
Wait a week before buying
Impulse purchases: Often when you get home with that thing you ‘just had to have’, you find that you didn’t really need it at all. If it’s not a necessity, wait a week before buying it. Then, if you still want it and feel that it’s a justified expense, go ahead and buy it.
Living Below Your Means: Top 5 Tips
Earn extra income
Everyone could use some extra income. Whether you’re looking for part-time income or a career change, Genistar might be for you. With Genistar you learn while you earn. You’ll learn about how money works and that could change your financial future.
Have a look at our Business Opportunity page.
Pay yourself first
Treat your future like a bill and pay it first. As soon as you receive your pay, put a portion of it into a savings account before you spend money on anything else. Even better, make it an automatic transfer so you don’t even have to think about it.
Invest £100 per Month for Retirement
Set up an emergency fund
Without an emergency fund, unexpected expenses can throw your finances out of balance and even send you into debt. Start by saving a small amount each month and be consistent. As your savings grow, so will your peace of mind.
The Importance of an Emergency Fund
Get out of debt
It’s easy to let your debt get out of control and feel overwhelmed. But with a bit of knowledge and a plan, you can conquer it. Ask your Genistar rep to show you the fastest way to accelerate your debt with the free Financial Game Plan Debt Accelerator.
Tips for living below your means
Keep a positive mindset
Finance is an area where many people have trouble thinking positively – especially if they are currently experiencing money problems. However, your thoughts, whether positive or negative, have a huge impact on your financial success.
A Positive Look at Your Life and Your Money
A Winning Mindset Course
