3
Here Is Everything You Need To Know To Handle Your Personal Finances If you can't afford the aspirin to soothe the migraine that your finances are causing, don't panic. Just go over this article and you'll be able to find ways to fix your financial situation. With the right financial tools, you can flip your situation around quickly. Be careful not to make any long distance calls while traveling. Most cellphones have free roaming these days. Even if you are sure your cellphone has free roaming, read the fine print. Make sure you are aware of what "free roaming" entails. Similarly, be careful about making calls at all in hotel rooms. Always look for ways to save. Audit yourself and your bills about once every six months. Take a look at competing businesses for services you use, to see if you can get something for less. Compare the cost of food at different stores, and make sure you are getting the best interest rates on your credit cards and savings accounts. Coffee is something that you should try to minimize in the morning as much as possible. Purchasing coffee at one of the most popular stores can set you back 5-10 dollars per day, depending on your purchasing frequency. Instead, drink a glass of water or munch on fruit to give you the energy you require. To improve your personal finance habits, project all of your expenses for the coming month when you make your budget. This will help you to make allowances for all of umbrella company uk your expenses, as well as make adjustments in real-time. Once you have recorded everything as accurately as possible, you can prioritize your expenses. An important tip to consider when working to repair your credit is that if you are going to be filing for bankruptcy as a certainty, to do it as soon as possible. This is important because you need to start rebuilding your credit as soon as possible and ten years is a very long time. Do not put yourself further behind than you need to be. In regards to your personal finances, one of the worst things that you can do is gamble a lot of money at a casino. Casinos are geared to have an advantage, as you can lose your life savings on a bad day. If you do go to the casino, bring a couple hundred dollars in and leave your credit and debit cards behind. Have your premium payments automatically deducted electronically from your checking account. Insurance companies will generally take a few dollars off of your monthly premium if you have the payments set to go automatically. You're going to pay it anyway, so why not save yourself a

Here Is Everything You Need To Know To Handle Your Personal Finances

Embed Size (px)

Citation preview

Page 1: Here Is Everything You Need To Know To Handle Your Personal Finances

Here Is Everything You Need To Know To Handle YourPersonal Finances

If you can't afford the aspirin to soothe the migraine that your finances are causing, don't panic. Justgo over this article and you'll be able to find ways to fix your financial situation. With the rightfinancial tools, you can flip your situation around quickly.

Be careful not to make any long distance calls while traveling. Most cellphones have free roamingthese days. Even if you are sure your cellphone has free roaming, read the fine print. Make sure youare aware of what "free roaming" entails. Similarly, be careful about making calls at all in hotelrooms.

Always look for ways to save. Audit yourself and your bills about once every six months. Take a lookat competing businesses for services you use, to see if you can get something for less. Compare thecost of food at different stores, and make sure you are getting the best interest rates on your creditcards and savings accounts.

Coffee is something that you should try to minimize in the morning as much as possible. Purchasingcoffee at one of the most popular stores can set you back 5-10 dollars per day, depending on yourpurchasing frequency. Instead, drink a glass of water or munch on fruit to give you the energy yourequire.

To improve your personal finance habits, project all of your expenses for the coming month whenyou make your budget. This will help you to make allowances for all of umbrella company uk yourexpenses, as well as make adjustments in real-time. Once you have recorded everything asaccurately as possible, you can prioritize your expenses.

An important tip to consider when working to repair your credit is that if you are going to be filingfor bankruptcy as a certainty, to do it as soon as possible. This is important because you need tostart rebuilding your credit as soon as possible and ten years is a very long time. Do not put yourselffurther behind than you need to be.

In regards to your personal finances, one of theworst things that you can do is gamble a lot ofmoney at a casino. Casinos are geared to have anadvantage, as you can lose your life savings on abad day. If you do go to the casino, bring a couplehundred dollars in and leave your credit and debitcards behind.

Have your premium payments automaticallydeducted electronically from your checkingaccount. Insurance companies will generally take afew dollars off of your monthly premium if youhave the payments set to go automatically. You're going to pay it anyway, so why not save yourself a

Page 2: Here Is Everything You Need To Know To Handle Your Personal Finances

little hassle and a few dollars?

Sign up for a rewards credit card if you qualify. You may be able to turn your expenses into thingsthat you need. However, you must be able to pay your card balance in full to take advantage of thebenefits. Otherwise, the rewards card will just become another debt burden.

If you come across extra money, whether you got a bonus at work or won the lottery and you havedebts, pay the debts first. It's tempting to use that money to splurge on such things as, new gadgets,eating out or other luxuries, but you should avoid that temptation. You'll do yourself more favors, ifyou use that money to pay your debts. If you have money left after you pay your debts, then you cansplurge.

Look at the fees you are paying to institutions like your bank and any bills that you pay. You may bepaying for services you don't need or that you could get for less with another company. Your bankmay be charging you all sorts of fees for convenience payments, paper statements, etc. See whereyou can knock off just a few dollars from each bill and that can add up to a lot.

Even if your home has decreased in value since you bought it, this doesn't mean you're doomed tolose money. You don't actually lose any money until you sell your house, so if you don't have to sell atthe moment, don't. Wait until the market improves and your property value begins to rise again.

Whenever possible, pay with cash. Carrying cash is a tangible reminder of how much or little moneyyou have remaining, to meet your upcoming needs and expenses. Unlike debithttp://employment.nychhc.org/careers.html and credit cards, cash is accepted practicallyeverywhere and is perpetually free of annoying surcharges, fees and confusing fine print.

One of the things that you can do in order to maintain a good personal financial standing is to havegood medical insurance. If you become sick, ill or injured the medical bills associated with thesehave the capacity to ruin you financially. It is important to plan for these things.

Managing your finances can be especially difficult if you have children. Reduce unnecessaryexpenditures by setting aside a predetermined amount that is to be spent on each child for themonth - you may want to put it in an envelope labeled with the child's name. Fast food, treats, andentertainment are limited to the amount set aside in the envelope; once it's gone, it's gone.

Make sure that you're never purchasing an item you cannot afford, even if you do have a high creditlimit. There is no reason that you cannot make do with a 32-inch TV instead of that 60-inch mega-screen. Why spend the extra $1,000 on luxury when you know you'll have to pay back $2,000-pluswith interest?

Compounding interest is a great way to grow your finances, particularly for young people juststarting out. Open a savings account; make it a priority to save some money from your earnings eachweek.

If you are working to try and track your budget, consider using your debit card, instead of cash.Debit card purchases can easily be tracked. Many banks even offer their own software to do this, orwill integrate with commercially available budgeting software. This might allow you to keep anaccurate record of where your earnings are going.

By getting the information right for you and using it for your money situation, you can be more readythan you were before. Over time you will be able to have better finances and rid yourself of any

Page 3: Here Is Everything You Need To Know To Handle Your Personal Finances

stress that debt can cause.