The choices you make today have a direct impact on your future. Most people are aware of this but fail to implement this concept in their lives. Take personal finances, for instance. Although money doesn't buy happiness, it does enable you to acquire the things you want and need to lead a satisfying life. Ultimately, poor financial decisions like mismanaging money, racking up debt, and failing to save and invest prevent you from living the life you want. 

Are you interested in financial stability? Perhaps you want to travel, buy a new wardrobe (without the guilt), or purchase a car. Maybe you're at a point in your life where you're passionate about submitting an offer on a house, starting a business, or extending your family? Whatever your goals are, the only way to accomplish them is to begin making financial moves such as these listed below. 

Develop a Realistic Budget

How do you manage your money? If you simply earn a paycheck and pay your bills, this isn't the best practice. No matter how much money you make, you should clearly understand where it's going. An adequate budget allows you to maintain control of your finances and make informed decisions related to your present and future. 

Whether you prefer an excel spreadsheet, budgeting app, or the old-fashioned pen and paper, develop a budget that works for your lifestyle. Use your paystubs, bank statements, credit card records, bills, and receipts to get a detailed total of your income and expenses. When established, implemented, and monitored regularly, you'll start to see whether you're making the most of your finances. 

Pay Down Debt

While debt is inevitable and sometimes positive, it can quickly get out of control. The more debt you accumulate, the more challenging it becomes to live the life you want. High balances, missed payments, and collection accounts lower your credit score and could result in other consequences like repossessions, lawsuits, wage garnishments, and bankruptcies. 

Experts say that keeping a debt-to-income ratio of no more than 36% is ideal, with 28% of that debt allocated to your mortgage. Tally your monthly recurring debt and divide it by your monthly gross income. If the percentage is higher than 36%, you need to develop a debt repayment plan. A debt repayment plan is also necessary if your outstanding balances ruin your credit or impact your quality of life. Whether you negotiate better deals with creditors, apply for a debt consolidation loan, or tighten your purse strings and pay off balances one at a time, it's imperative to your financial freedom. 

Multiple Income Streams

After analyzing your budget and reviewing your debt-to-income ratio, you may learn that you don't earn enough to live the life you want. As such, you may want to consider other income sources. Having extra money enables you to cover your monthly expenses, pay down debt faster, and ultimately, afford the things that make you happy. Fortunately, there are hundreds of ways to bring in more money. You can start a business, get a side gig, look for a higher-paying job, or get a second job. 

Save, Save, Save

It's nice to spend money when you want, but that doesn't mean you should spend every drop. There are things you want to acquire that cost more than you have upfront. Maybe you want to plan a destination wedding, have a sizeable down payment for a house, or put your kids through collect. If you haven't been setting money aside for these goals, you'll be forced to go into debt or live without them. Saving even $100 a month could work to your advantage in the long run. 

No one wants to live a life of mediocracy where you're constantly struggling to get by. You want the best of what life has to offer. You have goals and aspirations. The only way you're going to acquire any of them is if you get serious about your finances today. Start making the financial moves listed above, and it won't be long before you can enjoy the life you want.