Tips for financial success

For many people, financial success is one part hard work and another part discipline. While there can also be a lot of privilege and luck involved, knowing what not to do when it comes to money can have a huge influence on your long-term financial wellbeing.
Whether you’re looking for ways to lower your bills, cut things out of your budget, or just want some money tricks to save cash, remember these 15 phrases as things money experts will never say when it comes to making smart financial moves.
“It’s too expensive to save when you have kids”

Even though having children means many new expenses – from childcare to medical bills to extra groceries – that doesn’t mean it’s safe to stop saving money.
“Having kids who depend on you means you have even more reason to build up savings and create financial security for now and in the future,” says consumer-finance expert Andrea Woroch.
Providing financial security for your children may mean saving for emergencies, retirement, school or university, and unexpected healthcare bills such as braces. “Finding extra room in your budget may seem impossible when you have kids, but there could be areas in your monthly spending where you’re wasting money without realising it.”
Don’t miss these personal finance tips you were never taught – but need to know.
“Money management strategies are one-size-fits-all”

Your mental health can have a big impact on various aspects of your life, including your finances. The idea that everyone should manage their money the same way sets many people up for failure.
Daniella Flores, Founder of ILiketoDabble.com, says that failing to acknowledge the impact of mental health struggles on a person’s finances is a mistake. “It can be very damaging to someone trying to get their financial ducks in a row, but struggling in a way that others don’t experience.”
Flores spent years struggling and feeling shame for the way her own mental health issues (PTSD, ADD, and bipolar disorder) impacted her financial life. “I thought the way I handled money throughout my life meant that I was bad with money,” she says. But her therapist showed Flores how her mental health affected her finances, and she was able to change her financial management strategy to suit her needs.