Transform your finances in 2016

A popular New Year’s Resolution is to save more and build healthier finances. Maybe you already have a great budget in place and you’re saving for your future or maybe you’re just starting out. In either case, it always helps to have a little advice from those who have been at it for years. Dr. Valente is a business owner and seasoned investor, so we turned to him share some of his tips with us for jumpstarting a healthier financial future:

savings tips | healthier finances | 6 tips for healthier finances

1. Change your attitude about money. It’s not for you or against you. It’s neutral and available to everyone. You are the leader of your financial future.

2. Seek advice. Follow those more successful than you and learn from them. Don’t use the excuse, “I don’t know anyone.” Of course you do, maybe not personally, but so many successful people have written books, articles or give lectures. Remember that success leave clues. Another good place to start is a brokerage firm putting on a free seminar. But remember, take the advice of others, then do what feels best to you.

3.Know where you’re at now. Write down your expenses and track your money. Your online banking often categorizes your spending for you so you can take a look back at how you spent your money last year. When you identify where you spend your money, you can then find ways to save money. Maybe you’re spending a ton of money eating out each week, start packing your lunch instead.

4. Have at least a general plan and direction. Once you’ve identified where your money is going, start planning where it should be going. If you’re not good at setting specifics at least have a general blue print. You would never start to build a house without a blueprint, don’t run your finances without one. Not sure where to start? Start by basing your budget on these average category spending percentages.

5. Pay yourself first. Start small with $10.00 to $20.00 a week, that is how I started. As my income grew, what I put aside grew. This concept comes from the popular book The Richest Man in Babylon.

6. Feel good about small steps. Whether your goal was to stop spending so much on eating out or paying off a credit card, celebrate every financial accomplishment and move forward!

Start shaping your financial future now, so next year you’ll be able to look back at all that you were able to accomplish!