Finding ways to boost your financial well-being is one of the best ways that you can invest in your future and help improve your present. For a lot of people, the concepts of financial stability, literacy, or security might seem intimidating or mysterious, but they don’t have to be. In fact, it’s never too late to start learning ways to help improve your financial well-being and move toward the future that you want for yourself.
The great news is that it’s never been easier to find ways of improving your financial well-being and investing in your future. With powerful tools and even ways of making free money, you can start making moves today to help improve your financial stability. If you have been looking for the best ways to boost your financial well-being – here is everything you need to know.
1. It Starts With Inventory
So the first step to improving your finances is to take a thorough inventory of where you are at. This is something that for a lot of people is much easier said than done. Finances and money can seem scary and intimidating, and not only that, but the world of finances can also be confusing to navigate. The truth though, is that learning how to control and focus your finances is something that you absolutely can do.
While it may seem like a scary task to look at what you spend money on and how much comes into your bank account on a monthly bases versus how much leaves it – this is an empowering first step. Not only is it easier than you may think, but it will give you a sense of accomplishment and power because you can know what is happening with your money.
2. Make Achievable Goals
One of the most important aspects of boosting your financial well-being is by learning how to make achievable goals that can encourage your growth. No matter who you are, learning how to be more financially wise, grounded, and success will require a certain amount of hard work and sacrifice. This isn’t an easy task to accomplish. That’s why learning how to set goals that you can achieve is so important.
Don’t go into this journey with the same kind of energy that dooms New Year’s Eve resolutions to failure before the end of the first quarter. Instead, after taking a thorough inventory, pick a small goal that you are fairly certain you can achieve and go for it! This may be small – like cutting out one cup of coffee from your weekly routine or donating a small portion of your check to a charity.
Whatever these goals end up looking like, by practicing goals that can be achieved, you will encourage yourself to keep moving toward bigger and better accomplishments.
3. What About Free Money?
While you should always treat anything on the internet that’s talking about free money with a grain of salt, Yotta is actually flipping the script on incentivizing wise spending and saving through their lottery system. Yes, you read that right – a lottery system that encourages financial responsibility. How does this work? Great question.
Yotta is a company that is setting out to teach people practical life skills such as saving and wise spending by incentivizing these activities through their savings accounts. A Yotta savings account is free to open and requires a minimum of 25 dollars to stay open, and generates a large amount of interest. The interest that is generated from these accounts is put in a lottery system that is then used to reward Yotta account holders for wise spending and concentrated savings.
The more money that a person saves in their account and the more purchases that a person makes using a Yotta debit card, the greater their chances at winning actual free money. Every week the lottery is played and Yotta account holders have a chance at winning up to 10 million dollars. Since only the interest generated from the accounts is used for the lottery, and never the actual money in the savings accounts, a person is never at risk of losing the principle they invested.
This makes any money that is won through Yotta’s lottery system truly free money! This can help to encourage people to learn how to put more money into a savings account because the more you save, the more weekly tickets you get entered into the lottery. This is a fun, accessible option that anyone can use to help build the skill of saving and wise spending.
Boosting your financial well-being is something that you can do no matter what stage in your financial journey you find yourself at. The most important thing to remember is that it’s never too late to start improving your financial state and learning how to increase your financial literacy and stability.