What is the key to financial success? This is a question we all have an interest in, in some way or another. Read our guide to financial success in 2014 and we will relay some simple truths about financial success and show you how to achieve financial success this 2014. 1. Spending less than you earn If you spend less than you earn you are already halfway to achieving financial success. Spending less than you earn is hard though and it requires the discipline and the forethought to say no to things that you want but can’t realistically afford. It also requires that you monitor, record and constantly evaluate your expenditure and income, comparing these and ensuring that you continually spend less than you earn. 2. Getting paid what you are worth Another simple financial rule is to receive renumeration that reflects your worth. Are you stuck in a deadend job? If you are then you should create a list of your talents and qualifications and think hard about how you can get paid for these. You may find that there are jobs you can apply for that you would otherwise have ruled out, or it may be that you are due a promotion you are too shy to ask for. You may find that a career change is in order, or you might even decide to set up your own business doing something you love but may otherwise have been a hobby. canada-dollar 3. Emergency planning You always have to plan for a financial emergency and try to put some cash aside for a rainy day. If you can’t do this then there will always be a way to mitigate your losses. Instead of letting a cheque bounce or a payment bounce you could borrow money from a friend or relation, ask your bank to increase your overdraft or approach a reputable payday loan company for a short term loan. Use the calculator on the Wonga site to work out the costs of a payday loan and compare these to the costs of missing the payments. 4. Shopping wisely Shopping in the sales is something we all do from time to time, but if you plan your shopping to coincide with sales than you will save lots of cash by never paying for full price items. Always buy your winter coat in the summer time for example and try to avoid ‘high fashion’ clothes. Go for things that are durable and plain. You can spruce these up with high fashion accessories that don’t cost a lot. It also helps to shop online as when you do this you can examine the competition more extensively and make the wisest investments. 5. Fuel, travel and utilities Lots of us waste money unnecessarily on things we take for granted such as the electricity being there at the flick of a switch. We underestimate how simple efficiencies like drying clothes on a radiator instead of in the dryer, or washing clothes at 30 degrees unless they are heavily soiled can save us over the course of a year.