It’s easy to bury your head in the sand by ignoring your financial situation. This article is helpful, since it gives you a number of ways you can better control your budget. Start managing your finances better today!
Have a little envelope with you at all times. Your envelope should be used to store items such as business cards and purchase receipts. You’ll need these later for your records. Keeping astute credit card statement records can help you if there is ever a dispute about payment or being overcharged.
Poor Credit
Be very skeptical about any guarantee that your credit history can be improved. Often, companies will make sweeping promises about what they can do to help you with your credit. However, this is a misleading claim because the cause of your poor credit may differ from the cause of someone else’s poor credit, and these varying factors require different treatment methods. No one can guarantee success, and to say otherwise is fraudulent.
Most products come with a guaranteed warranty that covers them for a certain period of time. Extended warranties are great for businesses, but they aren’t great for the customer.
It is in your best interest to keep track of important deadlines and dates for filing income taxes. To receive your refund quickly, file it as early as possible. If you owe money, then you may want to file your taxes closer to the April 15 due date.
Protect your finances by ensuring you have the proper medical insurance policy. Everyone gets sick during their lifetime. Because of this, it’s important to have good health insurance. An emergency room visit or short hospital stay, plus doctor’s fees, can easily cost $15,000 to $25,000 or more. This can damage you financially if you’re not insured, so you have to take care of this now.
Buying in bulk is only smart if you are using all of the product before it goes bad. It makes good sense to stock up on things that you use the most, but you shouldn’t buy more than you can eat if it will expire before you can use it. Shop for bargains, and don’t be afraid to buy 10 pounds of peanut butter if your family loves it, but use common sense.
There are plenty of free checking accounts, go for that option. Search local credit unions, community banks, and online banks.
Some people spend $20 to $30 each week in lottery drawings hoping to ‘win it big.’ Instead, invest that same amount of money in a savings account. This will give you a guaranteed gain, rather than losing to an overwhelmingly risky game.
Credit Cards
If you are new to financial independence, be cautious about using credit cards, especially if you are under the age of 21. It used to be that credit cards were freely given to college students. These days, you’ll be required to demonstrate that you have a reliable income or a cosigner to pay the debt in case you default. Before applying for any card, look into any necessary requirements.
Try to take the information you have learned and apply it to your own personal situation; you will find that managing your finances will become easier. Each tip represents an opportunity to optimize your personal finances and reduce the unnecessary stress associated with debt.
