Choices You Can Make for a Better Financial Future




Hello!  It’s been almost a month since I have published new content.  I haven’t quit.  Just been hiding in the shadows.  Today, however, I have some new content for you!  The following article is a guest post written by Good Nelly about making better financial choices.  As someone who has made terrible financial choices in the past, I understand how important it is to make better decisions to increase our chances of financial success.  Take it away, Nelly!

Generally, we always tend to think about what we will do in our lives next weekend, next month, or maybe next year. We might even make plans for celebrations like a vacation, or a wedding in the family, or son’s/daughter’s graduation day party. But, we often forget about our financial freedom and avoid financial planning for future goals.

It may sound harsh, but how many times did we seriously think about our financial future?

The real fact is you are cunningly and continuously making some vague choices in your daily life. What are these choices? Have a look at the examples:

  • Eating junk food more rather than a healthier homemade food.
  • Getting easy to eat salty or sugary snacks from a store instead of freshly made snacks at home.
  • Drinking at an expensive coffee shop frequently instead of having a good breakfast at home.
  • Planning an exotic vacation that you can’t afford instead of spending quality time with your family which will make you feel happy.
  • Buying too many new clothes instead of using the old good ones. It may trigger overspending habits.
  • Browsing the internet all day long instead of managing your overdue credit card bills and payment of debts.


You don’t have any idea where those “easy” choices are leading your life, isn’t it? Take a look:

# You’ll face high cholesterol, diabetes, low energy, hypertension, and much more general illness due to junk food intake. Thus, this may increase your medical expenses quite a lot.

# Overspending may cause you huge debts and loss of financial freedom.

# Avoiding your duties like overdue credit card bills, mortgage payments, utility bills, taxes, may cause you big financial damage you don’t even imagine.

These normal choices may make your life a living nightmare if you can’t control them now. You may need to evaluate your choices so that they can add value to your future. Go for long-term benefits rather than short-term fun.

Financial education gives you the light to get your financial freedom. If you know you what you actually need today, you can easily start planning for a better tomorrow.  


Here are some of the best financial choices you can make for a better financial future:

#1: Decide where you want to live

The place where you live and your current housing cost can determine your future financial situation. Staying in a relatively cheap locality of the countryside may help you to save money, as the houses are cheaper and the living cost may also quite affordable.
But you might experience the lack of good job opportunities that you might have in a larger city. So, it is up to you to select the best location for your living as per your financial priorities. Decide whether you want to save more or earn more, and choose the place.

#2: Decide your college

Choose your college wisely. The place where you are getting an education may have a greater impact than your friends. Choose a less expensive school if possible, rather than a costly one. As a result, you may complete your graduation with a smaller student loan. The lesser your debt amount, the sooner it can be paid off.

No matter what college you choose, your student loans will impact your chances to build your wealth. So, make sure you choose as per your affordability.

#3: Control your spending

In today’s consumer-oriented society, you are bound to spend a little more than what you can afford. But you must understand that your overspending can create problems to secure your financial future.

So, what are your options then? You must track your every dollar and think before making any purchase. Use cash instead of credit card to avoid credit card debt. Once you start managing your expenses, you’ll move forward one step towards your financial freedom.

#4. Stay out of debt

Debt is one of the major headaches that can ruin your financial life. So, being debt free must be your prime goal to achieve financial freedom. To get started, start focusing on your most expensive debt. Pay off your loans or opt for a credit card consolidation method to manage your high-interest debts. Don’t ignore your monthly mortgage payments. You can split your monthly payment in half or go for bi-weekly payments.

If you can’t manage your multiple debts at a time, you can choose popular debt repayment options like debt consolidation or reduce your debts through a debt settlement program.

#5. Clean your credit

Bad credit can make your loan application rejected. So, you must focus on repairing your credit as soon as possible. If you do not have any credit yet, start building your credit before you can apply for a loan. What do you need to do? Get a credit card, pay bills on time, stay current on your payments, and make sure you pay your balance fully. Financial freedom comes with great responsibility, so you should first maintain your credit responsibly.

If you have any errors in your credit report, dispute them with the credit bureaus and make them clean.

#6: Start saving for future goals

Start saving on a regular basis as soon as possible. You can start planning for your retirement and figure out how much you need to save for it. That money may also come handy if you suffer due to a sudden loss of employment.

Invest in an employer-sponsored 401(k) or an IRA account. Secure your retirement fund so that you don’t have to beg before anyone after retirement.

Do not forget to invest in insurance. Make sure you have enough insurance coverage to tackle any sudden financial loss without spending much.

#7. Build an emergency fund

An emergency fund is a boon which will support you to cover unexpected expenses in your daily life. Starting from the house to your health, every sudden expense can be handled if you have a good emergency fund in your hands. An emergency fund can even keep you away from debts.

One of the best ways to create an emergency fund is to maintain a separate bank account other than the usual account and start saving.

#8: Marry when you are ready

Studies reveal that married people have a higher income than the unmarried individuals. Staying married is good for your finances. Your spouse may support you with extra income and contribute in the monthly budget. Your spouse may also share your debt load by cosigning your mortgage. But you must remember, being married is also a responsibility that you should maintain respectfully. If one of you become rogue and do not follow a healthy financial life, both of your financial future might be at stake.

Now you decide, can you follow the path to financial freedom by following the list? The choice is yours.

Thanks for this wonderful post, Nelly.  As a single guy, my favorite item on your list is number 8.  Choosing a potential life partner is probably the most important financial decision I’ll ever make.  

If you enjoyed this post and would love to chat with Nelly, you can find her on the following digital platforms:

Community Feedback

  • What do you think is the best financial choice you can make?
  • How important is having an emergency fund?
  • Where are you on the path to financial freedom?
Follow by Email49

Author: Jerry

Jerry is a Business Insider Contributing Writer who is obsessed with personal finance. He believes you can improve your financial situation by applying principles taught by the financial independence community to your financial life.

If you are having trouble saving, he recommends that you join the SaverLife Savings program where you can get a $60 reward after six months (no income requirement). All you have to do is put a minimum of $20 a month into a savings account. Easy, right?

For a fun read, check out his article 10 Signs You’re a Personal Finance Addict to see if you are a personal finance nerd.

Before you go, check out the new From Broke to Financially Woke Interview Series.

Also, please subscribe below if you found his content valuable and want to continue following him as he documents his own journey from Broke to Financially Woke!

Subscribe to be one of the first people to get updates as I continue to document my journey from broke to financially woke 🙂

2 thoughts on “Choices You Can Make for a Better Financial Future

Leave a Reply

Your email address will not be published. Required fields are marked *

Name *

CommentLuv badge

This site uses Akismet to reduce spam. Learn how your comment data is processed.