Effective financial management is not easy, but there are certain habits that are followed by investors around the world who have mastered the art of finance management. There are simple tricks that you can follow every day. Read on to know the 13 financial habits that you must start today if you want to lead a stress-free life.

• Pay your bills on time
  This is the most important rule that you need to follow in your life.

The more you delay your payments, the higher will be the penalty that you would have to pay. Therefore, ensure that your payments are done on time.

Set aside an amount for yourself
Do not get so anxious about savings that you forget to keep an amount for yourself. You have responsibilities towards your bills, but your primary responsibility is giving yourself what you deserve.

Enable automatic payment deductions
Automatic payment options are a great solution for people who find it difficult to make payments on time. Link everything to your bank account and let e-banking take care of it. You can also invest in savings automatically without worrying anymore.

Stick to your budget
This is one financial habit that has been repeated everywhere and is a golden rule. Don’t mindlessly swipe your credit card without having the means to pay back.

Make wise investments and pay off your debt
Invest in mutual funds and pay more loan amount than specified. This will reduce the interest amount as well as shorten the loan tenure.

Avoid spending your spare change
This is a useful habit and it works every time. Whatever spare change you get, do not spend it. Set the change aside and count it at the end of every month. You will notice you have saved a big amount.

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• Say no to credit cards and switch to debit cards
  Debit cards help you regulate and track your spending. Try to avoid spending with credit cards as it builds debt and if you miss paying a bill, it entails a high late-payment penalty.
• Have an emergency fund
  Emergency funds are important savings, so you need to start opting for them before you face a problem.
• Have two separate bank accounts
  One of the cleverest financial habits is having two bank accounts. Use only one debit card and keep the other one for emergency or special purposes.
• Control your impulsive shopping habits
  Both men and women have become impulsive shoppers since the inception of online shopping sites. Do not get carried away.
• Spend only how much you can afford
  Spend only what is needed and on what is necessary. You can treat yourself once a while but not every day.
• Divide your money for different purposes
  Keep a separate amount for going out and a separate amount for shopping. This will prevent you from using all the money at one time.
• Check your bank balance every day
  Spend at least one minute every day analyzing your expenditure and work towards setting them right all day.

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