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Finding Your Financial Groove

13 September 2010 4 Comments

Personal finance is an interesting topic.  While the main principles of saving, budgeting, investing, etc are pretty much standard principles that make sense for all, each and every person’s individual situation is very unique.  What works for me might not work for you.  What is easy for you might not be easy for me.  As such, you should seek to find what I call your “financial groove.”

Spending Habits

Nothing is more different from person to person like spending habits.  I like to splurge on things like Starbucks and maybe a nice meal every now and then.  You might like to splurge on clothing.  Either way, we all have different preferences.  What your spending habits look like don’t matter; what matters is that you’re spending less than you’re making.  If you can’t accomplish this, then not much is going to work for you and you’re not likely going to move forward financially.

So, find your groove in your spending habits.  Find what is easy to cut back on and really hit it out of the park.  If you have expensive tastes in other areas, find ways to reduce them but still allow for the splurge every now and then.

If you’re married, finding a common ground in spending areas might be tough.  Be sure to have lots of communication and figure this one out together.

Investing & Saving

Investing looks different for lots of people.  This might vary greatly depending on your skills, your experience, your tolerance for risk and your understanding of investing.  Some of you might just want to put your money in cash and are happy generating next to nothing.  Others might be active investors & traders.  The key is to be put money into something (something being an investment vehicle generally accepted as a good investment).  The more then better.

Getting Ahead

How are you getting ahead?  Is it by managing your expenses and savings?  Is it by getting ahead in your career?  Is it by doing some work on the side?  Is it by creating and running your own business?

For me, I feel like I’ve really found my groove with some side income streams on the internet.  It’s something I talk about at length here on this blog.  Creating an extra income stream has done wonders for my finances, especially since we went to a single income as a result of having a baby.  The extra income stream has enabled us to spend less than we earn, regularly save and regularly invest.  Plus, I’m building a viable business that at some point down the road could potentially replace my regular income.

So, where is your groove?  What’s worked for you?  Maybe your experiences might help someone else find their sweet spot and really improve their financial situation.


  • Ken@SpruceUpFinance said:

    Cutting back on being an impulse buyer. When I want to buy something and I got really excited, I would normally give myself a cooling period such as a 24-hour period and then go back at it again to see if it really makes sense. Sometimes I ended up not buying the item.

  • Loyd Holmes said:

    Hi, this is my first time visiting your site. Thanks for this information 🙂

  • ike said:

    i like to invest as an annuitie but not chincy charges.fgp has paid 50 cents a quarter for 15 years and is a great mlp.there are others that rely more on oils ups and downs.steady as it goes.i take a flyer once in a while but know i could do as well at a crap table.
    azn is a great investment but suffers the regulators vagaries of europe and usa.

  • ike said:

    mlp's and disciplne will work similar miracles//