Happiness can be considered an elusive goal, but there are certain steps you can take that will definitely reduce the amount of stress in your life. Most people would agree that living a stress-free or close to stress-free life definitely ups the happiness level!
There are two main suggestions I have that will lead to a happy life. The first is managing your debt. By keeping a low debt-to-income ratio, you free up more of your money to do other things with. In addition, if you do have a high DTI ratio, it can be depressing to see 50% or more of your gross income go right back out to pay off your debt! My second tip to a happy life is to implement a savings plan. Experts agree that the average person should have between 3-6 months’ worth of income in savings. Let’s say you make $1000 a month, to keep the math simple. Experts suggest you should have $3000 to $6000 in savings. Now, this may sound like a lot, and it takes time to build this amount up.
Having this cushion in your savings account can really take a large stress burden off your chest because you know it will be there in case of emergencies. Life sometimes throws us curveballs, and if your AC goes out in the middle of the summer, it sure would be nice to have some money in savings to front the bill! Both of these tips will reduce stress in your life… or your money back!