Daniel Calugar Sheds Light on 5 Money and Wealth Tips Anyone Can Use

Making money isn’t easy. It won’t happen accidentally, but anyone can do it — as long as they approach their goals methodically. In this article, Dan Calugar, a data-driven investor, will outline five things anyone can do to make it easier to achieve their financial goals.

Save more than you think you can

The saying “It takes money to make money” is accurate, and unless you were born with the proverbial silver spoon in your mouth, you will need to learn to save as much money as you can. The principle of saving money should be the foundation of your financial outlook. If you don’t discipline yourself to save when you have little, you will not be able to when you have more. So, no matter how little you have, put more than you are comfortable with into savings. For many, a set percentage is a worthwhile goal. When you hit a rough financial patch, the amount you save will reflect that, but you will significantly increase your savings when you realize some success. This plan will allow you to multiply your success exponentially. 

Know where you can be frugal

Living a frugal life will help you save more and thereby achieve your financial goals sooner. It is a good idea to live as economically as you can without increasing your risk profile. Too much risk can upset any gains achieved by frugality. For example, avoiding the cost of at least basic health insurance will expose you to risk that could easily be disastrous. A significant health issue or accident could erase years of earning and saving. Spend where you need to keep your risks manageable. 

Automate your finances

Financial automation enables you to make money with less stress. Some things, like automatically saving money, allow you to decide how much to save each month only once. You don’t need the stress of revisiting that question each time you get paid. Just set it up to happen automatically and then forget about it. Paying bills automatically frees you up to focus on making sure you have sufficient funds to meet the automated payments you’ve set up. The automation drives a form of financial goal setting. The goal is not to need to modify the auto-payments. 

Set financial goals

Like anything worthwhile you want to achieve in life, without a set of goals to get you there, what you have is nothing more than a wish. Wishing rarely works. Set big goals like having a certain amount of money in your bank account by the end of the year and small incremental goals that will result in achieving that larger goal. Saving a certain amount each month to achieve your larger goal is the pattern to adopt. This pattern can be applied to more than just saving; it can be adapted to any financial plan. 

Give back to the community

Giving back is the financial wealth tip that too many people fail to understand. Giving back to the community can, but doesn’t necessarily include, making cash donations. Sharing your time and talents will achieve the same goal. Giving back to those that have, or ever will, help you along the way will cause several fundamental forces to work in your life. Your self-esteem will skyrocket. Remember, self-esteem is earned by doing esteemable things. It is more than just a positive self-image. Giving will also help others see that you are the kind of person that warrants their trust and investment; emotionally, socially, and financially. What you receive in return for your generosity is far more valuable than what you give. 

About Daniel Calugar

Daniel Calugar is a versatile and experienced investor with a background in computer science, business, and law. He developed a passion for investing while working as a pension lawyer and leveraged his technical capabilities to write computer programs that helped him identify more profitable investment strategies. When Dan Calugar is not working, he enjoys spending time working out and being with friends and family and volunteering with Angel Flight.

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