5 Surprise Tricks Make You Smarter With Your Money

There are no tricks to either making or spending money. There can be, however, tricks to make you think smarter about your money, some of which are just plain common sense more than anything irreverent or strange.

Below is a list of five very solid, open-minded actions one can take in order to not just save their money, but in the long run, potentially make more money.

Take Expert Opinion With A Grain of Salt

Not everyone is correct all the time. Whether from medical to legal issues, there is always room for error no matter who says they are without mitigation as a qualified expert.

This holds true for so-called financial experts or any other person who seeks to give financial advice. With finances, subjectivity is the key. What might seem right for one person may not be the case another. In this event, you should do your own research on the investments in which you have an interest. 

Also learn about yourself as an investor. The more you know, the more power you will have for your form of investing and not someone else’s.

Be Calm About Things

All things financial and/or money related, whether it’s saving or spending money, can come with bucket loads of emotional baggage. 

Impulse buying acts as an impetus for many of the items purchased in any retail setting, while the slightest variation on Wall Street can send the typical investor into a frenzy.

Try to think things out before a big purchase or a big financial adjustment to your portfolio. Consider the consequences as well as consider if it is something you can live with long-term. Happiness is fleeting, particularly when it comes to money. But regret can last a life time.

Eat, Sleep, But Don’t Be Merry

Many things in life can’t be done on an empty stomach. So what would make a person think they can undertake major financial decisions without proper nourishment to help them along? 

Not only does food increase your focus, stamina and most importantly, your brain, when one hasn’t eaten, they become subject to poor decision making, based in part on the fact they are thinking more about food than the implications of what’s at hand.

This falls in line with sleeping as well, simply from the fact that some horrible decisions can be made when a person hasn’t had enough rest. They can be tired, distracted or irritable, leaving them, just as is the case with food, unable to think clearly in regard to the importance of their decision, be it financial or otherwise.

As to merry, one drink may be one too many in light of financial decisions. A good bet here is to simply not drink before venturing out to make a large purchase or alteration to your finances.

Jealous? Don’t Be

Just as was earlier said with one size does not fit all financial advice, one size does not – or should not – fit two people when it comes to their finances or purchasing power. 

Just because person A has an expensive vehicle should never mean person B should go out and buy likewise. A similar notion needs to be employed with financial arrangements. 

So many factors can be involved between two individuals and their own money making journeys, it’s wise to stick simply to your own path, and realize in that what’s best for you.

Don’t Burn Out

Before the 2008 Crash, some people torched themselves with thought alone as they obsessed over their finances. Now, post-crash, a portion of those same people are engaged in the same type of obsession. 

This can lead to over-thinking the situation, where before long, a person has a mental meltdown regarding their money. Sure, think about it. But don’t obsess. 

If you do think about stocks, bonds, portfolios etc, too often, there might stand a chance where you begin to hate thinking about them, which when money is concerned, could be the most dangerous scenario of all.