Regret is not a fun feeling to experience. We’ve all been there and focusing on what you could have done differently and the past will only rob you of your present time and happiness. Having positive financial aspirations will help provide you with joy as you move through life. Here are 5 financial decisions you can focus your time on that you’ll surely never regret: 1. PAY OFF YOUR DEBT In the society we live in it’s easy to forget about delayed gratification. Pretty much everything you’d ever want and need can be financed. Unfortunately, with debt and loans comes an interest rate that dwindles our net worth and saving accounts. Keeping your debt manageable or focusing on eliminating it all together will provide you with a healthier financial picture. Here’s a great article from Investopedia to help you see what I mean: “Best 5 Money-Saving Tips to Get out of Debt”. 2. FOCUS LONG-TERM Financially speaking, focusing long-term is something that will never disappointment you. The sooner we start planning for our children, life-milestones, and retirement, the easier those phases of life are. There are many options for saving and preparing long-term such as a 529 college savings plan, a 401(k), an IRA, or Roth IRA accounts. Your retirement plan could depend on your employer and the benefits. The choice between a 401(k) or IRA will …show more content…
The logic we see typically is “buy now, pay later". This is why we are a country that’s severely in debt. Not only is saving first and then buying beneficial to our financial health, but it’s also rewarding. When we save and work hard for something, we are likely to appreciate it more. We’re also more aware of the value of money. When we use lines of credit to purchase materialistic items that decrease in value as soon as it’s purchased, we’re less likely to value the dollar, resulting in too much borrowing, spending, and living outside of our