Use a smart payment method. Are you a sales shopper who loves to boast about the great deal you got on a new pair of shoes? Did you pay for them with a credit card? Well, consider this: a pair of shoes on sale for half price will probably cost you more than full price, if you charge it and make minimum payments on the credit card! Pay cash instead, or pay-off your card each month to avoid finance charges.
Being a smart shopper can enable one to catch onto money pits that can often lurk in store aisles or on the shelves. An example can be found in many pet stores where animal specific products will often consist of the same ingredients despite the animal pictured on the label. Finding things such as this will prevent one from buying more than is needed.
One job is a Forex money manager. These people charge a fixed percentage of the profit. A Forex money manager will be able to keep his eye on the market for you, and make all the financial decisions. Hiring a manager would be a good idea if you are really not sure how the trading world works, and don’t feel like learning it.
As a person acting responsibly and trying to get a hold on his or her personal finances, you can look to many areas in order to trim the fat. Try knocking out that subscription to Time Magazine and watch the news instead. Ditch that Netflix monthly premium and wait for your movies to come on cable. There are many areas to trim.
You can save money by tweaking your air travel schedule in the small scale as well as by shifting trips by days or over seasons. Flights in the early morning or the late night are often significantly cheaper than mid-day trips. As long as you can arrange your other travel requirements to fit off-hour flying you can save a pretty penny.
When saving money, most experts agree that it’s best to have at least 3 months’ salary put away for an emergency. This can help you cover all kinds of disasters like car accidents, medical bills, driving tickets, a fire, expensive equipment like a computer or refrigerator needing to be replaced, or any other expensive unfortunate event.
Refer to the Federal Housing Administration’s guidelines before your borrow. These guidelines will help you determine what your borrowing limit is. Your limit will depend on how much money you earn. Follow the FHA’s advice and you should be able to avoid taking on a loan that will drive you to excessive debt.
Save a little money every day. This can be as simple as skipping your morning drink. A frappuccino can cost $4; that’s a small indulgence, right? Pocket change? Well, that $4 on your way to work every day costs you over a thousand dollars a year. That could buy you a great vacation.
Learning about finances is a neverending task. Our monetary needs and problems are always changing and evolving. Make a commitment to being a lifetime learner of money and how you can best stay on top of any financial issue. Don’t keep your head in the sand.
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