Financial growth is something many people plan for but rarely achieve.
People know they should have a financial plan. And they know they should be saving for their retirement and investing their money and living on a budget that makes sense. But it’s always easier said than done.
Measuring financial growth can be a little confusing sometimes because there are a lot of caveats that need balancing.
Below are three ways you can measure financial growth:
Live Below Your Means
Financial growth comes from lowering your living standards to fit your income. Once you are able to pull this off, then your finances will greatly improve.
Paid Off Your Debt
Debt is the biggest obstacle standing between you and financial freedom. If you have managed to cut a substantial amount of your debt, then you are already on the right track.
One of the hardest things to overcome is the temptation to spend your money, especially, on things that don’t matter.
With finances, we set a lot of goals and promise ourselves to drop certain habits that are dragging us behind. However, only when you have discipline and dedication will this happen.