5 things financially successful people do differently

Sep 27, 2018

In our pursuit of helping South Africans make better financial decisions, we're happy to share great articles like these from our friends over at Switch2.Make sure you check out their solution and give them a follow!

5 THINGS FINANCIALLY SUCCESSFUL PEOPLE DO DIFFERENTLY

With continuous petrol price hikes and the ever-rising cost of living, many feel as though they are drowning. From expensive debt repayments to living from hand to mouth, South Africans must act fast if they are to take back control of their finances.

Despite the challenges South African’s face, there are some people that seem to be in total control of their financial futures. Typically, these people have worked hard to get to this point and follow five key steps to financial freedom:

1. They know exactly what they spend on and where

People who are successful know where their money is going and why. They never allow themselves to be over-charged; they know what fair value means and how to get it. They keep track of their spending, budget carefully, and stick to their financial plans.

2. They act responsibly and insure their future

Building wealth means more than having money left in your account at the end of the month. It means being in total control of your future too. This can only be achieved through planning, and ensuring that you have the right cover in place to protect your lifestyle (and that of your family) in the event of death, disability, retrenchment or maternity. Switch2, a Division of Clientèle Life Assurance Company Limited, for example, focuses on helping clients get cover that meets their unique needs at fair value. With the potential for monthly savings, it won’t cost them an arm and a leg to insure their future.

3. They focus on long-term financial goals

Sometimes, focusing on the long-term result means making short term sacrifices, but it’s always worth it in the end. Planning, budgeting and making strategic financial decisions for the long-term are key elements of success.

4. They breed positivity and motivation

People who are struggling financially tend to complain, a lot. Yes, the economy may be floundering, but there are still wealthy people in every part of the world. The difference is, financially successful people focus on what they can change to benefit their financial situation, while staying positive and motivated to keep working towards their goals.

5. They lean on expert knowledge

Successful people know they don’t know everything. They rely on mentors and knowledge partners for good advice and input on their wealth strategies.

Contact Switch2 Credit Life for reliable, affordable and trustworthy cover.

Switch2 is a division of Clientèle Life Assurance Company Limited, an authorised financial services provider and registered insurer, FSP No. 15268. For terms and conditions visit www.switch2.co.za. This article and its contents do not constitute financial advice.

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