It’s been a tough economy situation. I hope the tips I have helped you to go through the situation. My collection of tips consist of how to manage money, save money and invest it, and relief from debt. All of them are related and because our goal here is to live a debt-free life.
In recent economy situation, it’s always important to manage our money smartly and save more money whenever we could, not to mention to take care of our debts so we can achieve financial freedom in the future.
For the beginning, here are simple things you can do:
- Get serious about the business of money.
- Keep a list of your goals to remind yourself why you don’t want to overspend.
- Keep your checkbook up to date.
- For highest earnings on savings, get highest interest paid, most frequent compounding, least amount of service charges.
- The longer you borrow money, the more interest you will pay.
- Use one bank for as many services as possible, to develop a “Preferred Customer” status.
- Minimize number and usage of credit cards. Minimizing accounts will also minimize postage.
- Keep track of credit card purchases so you can pay bills in full before you are charged interest.
- Never sign anything you do not understand.
- Plan how to spend your money before you get it. When money for any budget category is gone, stop spending in that category.
- After paying off a loan, contribute your new excess to savings.
- Never buy any big ticket item the same day you choose it.
- Keep savings account deposit slips with bills to be paid, so as you pay your bills, you pay yourself, too.
- Learn to manage your own investments.
- Examine your attitude! Consider budgeting as a reward system, not a deprivation system.
I hope you can start applying the tips to your daily life. Remember, discipline is the key. Please write me your constructive comments so improvement to this site could be made.
Thank you for visiting. Read more Managing Money Tips here.
Sincerely,
