Here are some things that you must do right now to live a financially stress-free life.

1. Revise your budget.

Time has elapsed since you set your last budget. Revise your budget as your financial needs may be different now. It will also be a good opportunity to make your budget even more realistic. You will get an idea of expenses you need to cut down as well.

2. Don’t take the focus off your health.

Don’t let your health suffer because of money. Check different health insurance options that make the best of your health. Go visit a physician if you haven’t already. Ask your workplace about reimbursement or discounts on gym memberships. You will be surprised how easy it is to save money on health.

3. Calculate and pay your taxes.

It is your responsibility to pay your taxes. It is a lot easier for you to pay them in quarterly installments. If you are a freelancer, you are obligated to file and pay your taxes in quarters. The I.R.S will not fine nor penalize you if you pay your second quarter taxes by June 15 of the tax year. Paying your taxes quarterly is more beneficial than paying them annually, as it is easier and more convenient to calculate as well as pay them.

4. Review your performance at work.

It is one of the most important yet the most ignored to-do chore. You don’t realize that the better you perform, the greater benefits you will get. You can ask for a raise, flexible hours or even an office. So review your performance against your workplace benchmarks and then set up a meeting to check in and negotiate with your boss.

5. Involve your partner in setting a financial goal.

Your partner should be a part of all life-altering decisions. Involve them in making financial decisions as they will be affected by them too. You can both work together to form a financial plan. You can either maintain a single joint account, or decide to keep separate accounts. You could make either a short-term goal or a long term goal, such as saving for retirement, a house, kids’ college tuition or even a cruise holiday. Establish each others’ role and responsibilities that will discipline you into reaching that financial goal.

6. Save as much as possible.

Spend as little as you can and make as much as you can; that way you can save more. If you are enjoying retirement, spend carefully, but if you are in the peak of your youth save as much as possible. Create emergency funds so you can have a safety net to pull you through hard times.

7. Pay in cash.

The rule is: “If you can’t afford it, don’t buy it”; measure your affordability in cash so you don’t have to opt for a credit card and enslave yourself to debt. The “pay in cash” rule should be followed no matter what stage of life you’re in. Make wise choices when spending your cash because you could have easily saved that amount for emergencies or future expenditure. Featured photo credit: Ken Teegardin via flickr.com