Evergreen Financial Activities that Never Go Out of Style

Your clothes, shoes, cars and home furnishings will go in and out of style over the next 20 years as they have over the past 20 years. Music will change, television shows will end and dog breeds will fall in and out of favor. One thing that never changes, however, is how you should treat your money. And with that in mind, let’s take a look at some of the evergreen financial activities you should be doing all the time in order to create the most stable and healthy financial life that you can.


Don’t spend, save: Instead of spending your money on “stuff” that you will have no use for in 5 years, save your money. If you do, rather than depreciating in a general sense and a personal way over the years through the purchase of stuff, your money will appreciate and create an emergency fund that can give you confidence when you are down, help in an emergency and comfort in your retirement years.

Balance your checkbook: Unless banks become psychic in the near future and can show you the checks you’ve written that have yet to clear in your electronic balance, then you need to balance your checkbook at least weekly. This will prevent you from accidentally overspending and incurring fees that can snowball and create a really nasty situation.

Diversify your holdings: The market goes up, the market goes down—it’s a never-ending ride and you are on it. In order to soften the blow of those hard times, make sure that you diversify your holdings. Now, that doesn’t mean to just invest in both variable and fixed products, it also means that you should diversify the sectors that you invest in as well.

Have a budget: Not only can a budget keep you from over-spending and accruing debt, it can also help you under-spend and create savings. Without a budget you’ve got no real plan, no commitment, no accountability and no road map to success. So don’t overlook this important tool.

Reduce your debt: If you have debt you should always be working to reduce it. That way, you have less money going toward interest and more money going into your savings account. One of the best ways to make sure that you reduce your debt is to stop accruing new debt. Don’t buy today what you can save for and buy tomorrow.

Respect yourself and your money: In order to really treat your money the right way you have to respect it—but respecting your money alone is not enough. To hold yourself accountable and to want more out of your money than just, “some things” you must respect yourself. Because not only do you owe yourself respect for all the hard work you did to gain the money you have, you also owe yourself enough respect to want more out of your life than to make other people rich while you buy the products that they tell you it’s impossible to live without.

Photo credit: Finster

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Author Info

This post was written by Yolander Prinzel. Yolander is a financial writer as well as a series 7, 66 and 2-15 licensed representative. During her decade of financial industry experience she has been an insurance agency director of marketing and director of operations, a life insurance underwriter, and a trading service specialist for Raymond James Financial Services. She was a featured speaker at the 2006 Hartford National Sales Conference and the 2006 Brookstreet Securities Annual Conference. Check out her portfolio at YolanderPrinzel.com

2 Responses to “Evergreen Financial Activities that Never Go Out of Style”

  1. Jerry |  Jun 04, 2010 at 2:51 pm

    Get insurance is a good idea, as well. You don’t want to be stuck in a situation that would lead to a huge drain on your savings.