13 Things You Must Do for More Financial Success

To celebrate my 13th anniversary writing and hosting the Money Girl podcast, I've compiled a list of 13 things that are critical for financial growth. Creating your own definition of success and being proactive about reaching it is a surefire way to accomplish more with your money.

Here’s more detail about each of these money tips:

Tip #1: Protect your ability to earn an income

Protecting your income or creating additional sources of income is probably the best thing you can do for more financial success. Not only does an extra income stream help you pay the bills and eliminate debt faster, but it helps you stay safe if one of them dries up.

Consider how you can use the skills you already put to work in your job to create a profitable side business. What interests do you have that other people would pay for, such as online tutoring, gardening, driving for rideshare apps, caring for pets, or writing?

If you don't have time to create an additional source of income, could you ask for a raise or promotion at work? Taking a higher-level job may be the ticket to earning more or staying as relevant as possible to your employer. 

Tip #2: Maintain a healthy cash reserve

If you've been following the Money Girl podcast, you've probably heard me discuss the importance of building a cash reserve, also known as an emergency fund. It should be a top priority, so you're never backed into a corner, financially speaking.

Having savings is one of the best ways to have more financial success because it protects you from hardship, such as having a significant unexpected medical expense or losing your job or business income. If you don't have a financial cushion to fall back on, it could force you into debt and take years or decades to recover.

If you get a raise at work or have a profitable year in your business, it can be tempting to spend the excess. But the trick to building a healthy cash reserve is to save diligently when times are good.

The trick to building a healthy cash reserve is to save diligently when times are good.

Before you book a vacation or buy a coveted luxury item, make sure you have plenty in the bank. I know saving isn't as much fun as splurging. But the best way to make sure you're ready when bad luck strikes is to prepare for it today....

Keep reading on Quick and Dirty Tips