Tips For Getting A Handle On Your Personal Finances - 0 views
started by Vito Jacobs on 22 May 12
started by Vito Jacobs on 22 May 12
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started by Vito Jacobs on 22 May 12
Single dollar bills received in change can be used for entertainment and possibly increasing a person's finances. If the dollars are used to buy scratch-off lottery tickets, there is a possibility to win more than is spent.
Many spend significant sums on a weekly basis thinking they will win the lottery, but it makes more sense to put that amount into savings instead. This will guarantee that you will increase your income over time, instead of throwing your money away.
Learn to put aside a small amount everyday, even if it is just the change from your pocket. Avoid grocery shopping when you are hungry; make a comprehensive shopping list that will cover at least a week's worth of food, stick to that list and take advantage of the sales to stock up. If an item is on sale, buy it instead of food that is at the regular price.
Eliminate credit card debt as soon as possible. Even if you have very small debt, this debt is still being paid to a creditor. That is extra money which should be in your pocket! If you have the ability to pay your credit card balance each month, then do it.
Rather than using a credit card that is close to being maxed out, use two or more credit cards. Paying interest on two lower balances will be cheaper than paying on a single card that is close to your limit. Keeping lower balances on two cards, rather than maxing out one card, protects your credit scores and can even improve your credit history if you keep both cards paid on time.
Learn how to go about your life free from credit cards. Look for ways to avoid paying interest at all, whether it is on a loan, for your car, or for your home. Interest is money wasted and you should work at avoiding any interest payments if you intend to live frugally.
Saving money for emergencies can prove a better priority than paying down debts, especially in cases where debts happen in the first place because of emergencies. When you think about how much you want to save back, you need to think about what may cost you a lot of money. This can be a medical problem or maybe something like a car or house fix that must be done.
Avoid taking out huge student loans unless you are certain you will be able to make the payments on it. Choosing a costly private college without having declared a major is a good way to land yourself in perpetual debt.
Do everything possible to pay down credit card balances rapidly. You may only owe a small amount, but rolling it over would still accrue you interest charges from the bank every month. You don't want to spend that money! Try not to have a credit card balance at the beginning of each new month.
Wait until it's a good time to sell. If you're getting good money from a certain stock, leave it alone for a period of time. Take a look at all your stocks and consider doing something with the ones that aren't doing so good.
Don't get overwhelmed with the pile of bills every month; give yourself a budget and make shopping lists that use your money in a wise way every month. This article will help you in your money management endeavors.
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