Transcript
Page 1: Learn The best ways to Manage Your Finances For A Better Life

Learn The best ways to Manage Your Finances For A BetterLife

Understanding your personal finances isn't going to happen overnight. You have to take your time toread and understand what it involves, as well as, just how everything affects you. As you start out inmanaging your personal finances, take the time to go over these tips and learn more about what youcan expect.

To avoid debt, you should keep your credit balance as lowhttp://www.paycheckcity.com/calculator/salary/ as possible. You might be tempted to accept theoffer you qualify for, but you should borrow only as much money as you actually need. Spend sometime to determine this exact amount before you accept a loan offer.

Keep a daily checklist. Reward yourself when you've completed everything on the list for the week.Sometimes it's easier to see what you have to do, than to rely on your memory. Whether it's planningyour meals for the week, prepping your snacks or simply making your bed, put it on your list.

To find out where your money is going record all of your spending. For at least a month, write downevery single time you spend money, and what you are spending the money on. After you have donethis for the month, review your spending habits and make changes as necessary.

To help you keep better track of your money, be sure to categorize all of your expenses. Have onecategory for fixed expenses like the mortgage payment, another for variable expenses like the phonebill and credit card payments, and a third for things like shopping trips or meals out.

Do not buy anything unless you really need it and can afford it. This way you will save your moneyfor essentials and you will not wind up in debt. If you are discerning regarding what you purchase,and use cash to buy only what you need (and at the lowest possible price) you will not have to worryabout being in debt.

Stay away from white or beige colored fluffy carpets when you rent. They may be stylish and nice tolook at during the first few months, but it is almost impossible to clean them perfectly. At the end ofthe lease period it will look much worse than it looked when you rented the place, which may causeyou to lose some or all of your security deposit.

Find a free checking account. There are some accounts that will charge you a fee to hold your moneythere, and you want to stay far away from those. Why spend money when you don't have to? Havinga checking account with fees can end up costing you hundreds of dollars every year.

Unless it's an actual emergency, stay away from the ER. Make sure and locate urgent care centers inyour area that you can go to for after hours issues. An ER visit co-pay is usually double the cost ofgoing to your doctor or to an urgent care clinic. Avoid the higher cost but in a true emergency headstraight to the ER.

Teaching children early will help their personal finance improve and enable them to have a strongidea of the value of things. Teaching ones children will also help the parent brush up on their basicpersonal finance skills. Teaching children to save can also help enforce the idea on parents.

If you want to save money, avoid eating out all the time. Eating at a restaurant is okay once in while

Page 2: Learn The best ways to Manage Your Finances For A Better Life

but doing it all the time will really hurt your pocketbook. Not only do you have to worry about payingthe bill, but you have to pay a tip and you are using gas to get there.

Use kitchen limited company set up scrubbies as substitutes for expensive aquarium filters. Get theflat fibrous kind and make sure they aren't treated with any kind of toxic chemicals or impregnatedwith soap. Cut them to the size of an old aquarium filter and slip them right down into your pump.They work great and save you lots of money!

Maintaining good credit lets you buy the stuff that's hard to buy with cash, such as a car or home. Ifyou find that you can't get a good interest rate for a big dream item, don't just wish for a miracle. Fixyour credit. Begin by reviewing your credit report and investigating any anomalies.

Use a credit card only if you pay it off in full each month. If you don't, the interest on an item thatcost you $10.00 could end up costing you $50.00. You never want to pay more than you have to foranything!

If you're living paycheck-to-paycheck, you should apply for overdraft protection at your bank. Thisminimal fee can save you a lot of money on overdraft fees in the long run.

Make sure to keep track of every single expense when you write a check or use a debit card.Keeping track of what's in your bank account can help, as sometimes a payment can be taken outand it won't be reflected in your bank account until much later. Keep track of your finances andavoid those pesky overdraft fees!

Do not trust any salespeople or customer service reps when it comes to buying something fromthem. They are there to make a sale and the more you spend, the more they benefit. You should dosome comparison shopping online before you head to the store so that you know what the best dealsare.

If you run into a snag while repaying your federal student loans, ensure that you know all of therules surrounding deferral or forbearance for your loans. There are a variety of circumstances underwhich you could have your loan payments reduced, placed on hold, or even forgiven, but you mustcontact the lender and keep up with your payments until you receive official word otherwise.

As you can see from the above article, it becomes very difficult for many people to know exactlywhere their money is going each month. There are lots of different ways to help you become betterat managing your money. By applying the tips from this article, you will become better organizedand able to get your financial situation in order.

Page 3: Learn The best ways to Manage Your Finances For A Better Life

Recommended