Easy Ways To Get Control Of Your Personal Finances

Download Easy Ways To Get Control Of Your Personal Finances

Post on 14-Aug-2015

9 views

Category:

Documents

2 download

Embed Size (px)

TRANSCRIPT

<ol><li> 1. Easy Ways To Get Control Of Your Personal Finances For some, the consideration of personal finance never comes to mind. For those that do consider it, some will lack the knowledge to know where to start. This article will outline some of the most solid tips and advice available regarding personal finance options. Utilizing them could mean the security of your financial future. When using an ATM while traveling, make sure the bank itself is open. ATMs have an annoying tendency to eat cards. If your card is eaten at a bank that is hundreds of miles from home, this can be a major inconvenience. If the bank is open, you will more likely be able to retrieve your card. Keep up with your bills to have better personal finance. Many times people will pay part of a bill, and this gives the company the ability to tack on expensive late fees. By paying your bills on time, it can actually bring up your credit score, and put a few extra dollars in your pocket in the end. A student should always consider every option before taking out a student loan. Grants, scholarships, and savings funds can be great ways to pay for college. Student loans will saddle you with debt and can lead to a shaky financial future, should you default. Plan ahead and pay for college wisely. To teach your children about personal finance, start giving them an allowance when they are young. This is a good way to teach them the value of money while also teaching them responsibility. Earning their own money will ensure that children will know the worth of working and saving when they are older. Taking advantage of a bank's program to automatically make deposits into a savings account, can be a wise personal finance move. Many banks offer such programs. They take a fixed percentage of every deposit or a set monthly sum out of a customer's checking account and deposit it in a savings account. This can help the customer build up savings without any hassle. Student loan debt has fewer consumer protections than other kinds of debt, so make absolutely sure that you can repay any student loan debt you accrue. Private schools can be very costly to pay off. Helping someone move in to a new house or apartment can be a way to get some quick cash for ones personal finances. Even if one doesn't earn any money or only earns a small amount of money they will have at least earned a favor from the person that they helped move. When paying down your debt avoid unnecessary expenses such as credit monitoring services. You are able to attain a free credit report from each of the three credit reporting agencies each year. Apply the extra cash to your debt instead of paying a third party company to monitor your credit report. </li><li> 2. Old coins can sometimes be worth large amounts of money for one to sell and invest the http://finotax.com/income-tax/calc-next return back into ones personal finances. These old coins can sometimes be found in a relatives ancient piggy bank or in the most unlikely of places. If one knows what coins to look for they can be greatly rewarded if they find them. Start saving for emergencies. Budget your expenses so you will have money left over to pay for any emergencies that may arise. This will help cut out the chance that you may have to use a credit card in case of an emergency and will save you finance charges and interest. Car maintenance is essential in keeping your costs low during the year. Make sure that you keep your tires inflated at all times to maintain the proper control. Running a car on flat tires can increase your chance for an accident, putting you at high risk for losing a lot of money. Do more than just start a rainy day account to improve your personal financial situation define exactly what a rainy day means to you. If you put emphasis on the savings account and realize that you're putting the money back for only emergencies, you can handle it a lot better than simply treating it like an everyday in-case-I-need-it account. Go over your insurance coverage, see if the coverage you have fits your needs. Sometimes you have unneeded coverage in one area and not enough in another. You can always go over https://twitter.com/hbumbrella your policy with your agent and if possible try to get a better deal for being a good customer. If you find yourself in need of a personal loan, but are faced with banks that are generally unwilling to make them, you should gather documents that prove that you are a low-risk credit consumer. This can include favorable payment records on car loans or credit card companies, as well as paycheck stubs from a stable employer. Filing bankruptcy should be your last resort when dealing with personal financial issues that have gone out of whack. First look into other things like debt consolidation before you attempt to throw your hands in the air and give up on paying altogether. Honor your commitments unless you absolutely cannot. Get a copy of your credit report. You may not be in any real trouble, but keeping an eye on your credit report keeps you aware of your financial picture. You can also check the credit report for any mistakes so you can take care of them at your leisure instead of rushing to do so. If possible, avoid credit cards. Using a credit card makes keeping track of your expenses harder and a lot of people end up spending more than they can afford because of credit cards. Pay off your credit card with the highest interests and look for a credit card with a better interest rate and rewards that you will actually use. Whether is seems believable or otherwise, buying a home saves you a lot of money in the long run. If you buy, you need to pay for a mortgage, maintenance, property taxes and insurance each month, but you will own the property. When you rent, you are just spending money for a property you will never actually own. Our finances need to be dealt with on a regular basis in order for them to stay on the track that you set for them. Keeping a close eye on how you are using your money will help things stay smooth and </li><li> 3. easy. Incorporate some of these tricks into your next financial review. </li></ol>