Money alone will not make you happy, but having it can give you a sense of security. Money can help us get a good night’s rest and reduces stress in our lives. A lot of people are stressed and unhappy because their personal finances aren’t in order. It’s not money alone that makes you happy, read ahead and find out what you can do to position yourself financially better.
Keeping a written notebook on your daily expenses can be a real eye-opener into where your money is going. If you are writing things down in a journal and you slack off it will never work for you. Try listing how much you spend on a whiteboard set up in your office or den. As noticeable as it will be, it will be a constant reminder of your situation.
The standard warranty is usually either 90 days or a year, which is plenty of time for most defective parts to quit on you. Extended warranties are great for businesses, but they aren’t great for the customer.
Are you married? Let your spouse apply for loans if he or she has a better credit score than you. Build your credit up by using and paying off your credit card regularly. This is especially important if you are trying to repair bad credit. Once you have both improved your credit scores, you can share the debt responsibility for future loans.
Credit Cards
Instead of using a nearly maxed out credit card, try using a couple credit cards. The payments on two smaller balances can be lower than trying to pay off a card that has reached its limit. Having two credit cards can actually hurt your credit less if you manage them properly.
To be truly financially stable, you should have a good deal of savings. If you do not have much saved up yet, open a savings account and get the ball rolling. Having enough savings on hand means you won’t have to use your credit cards or take out a loan in cases of an emergency. Contribute what you can every month, even if it is very small.
If you need to buy more product than you need, a grocery store sale may not be so great. Even if the items you stock up on are ones you regularly use, you have to be able to consume them all before their expiration dates. So, make sure you use caution when you find a good deal on something to make sure it really does end up saving you money in the long run.
Utility bills are an expense that you must stay on top of to improve your credit rating. If you don’t make timely payments, it can have a detrimental effect on your credit. In addition, you could incur a late fee, which would cost you more of your hard-earned cash. Paying your bills in a timely manner is the best way to use your money wisely and avoid costly fees and complications.
Sell an old laptop. If it still works, or can be fixed, it will sell much better than one that is broken. Even an un-repairable laptop is likely worth enough money to fill up a car’s gas tank if one finds the right place to sell it.
To guarantee that you are not late on any payments have them withdrawn from your checking account automatically. You may not be able to pay off the whole balance each month, but automatic payments establish a good payment history. This looks good on your credit report. You are sure to make your payments on time every month if you have an automatic payment set up through your bank. Any month that you have some extra money, you can always make an additional payment on the credit card account.
It’s always best to plan for the unexpected, sometimes unexpected expenses occur and have to be prepared for. Find out what late fees are charged, and how late you can pay your rent without getting into serious trouble. Shop around before you sign up for a one year lease.
If you have to live paycheck to paycheck, make sure you have overdraft protection. Although you may have to pay a little extra each month, the fee for overdrafting could be as much as $20.
Talk to friends about your financial situation. This will help them understand why you are not going out with them as much. Failing to inform others of your situation may cause them to wonder why you do not want to take part in their lives. Keep your friends and be sure to let them know about the things that are happening in your life.
Evaluate your attitude toward your money. If you would like to better your own personal financial situation, you will only be able to do so once you understand the money decisions you’ve made so far. Sit and list what you truly believe about money, material items, and earning money; try to work out where your ideas came from. This will help you move on from the past and start your future with positive feelings.
The tips in this article should have educated you about how to manage both your finances and life in general. Achieving a good financial state in your life requires you to make changes and put forth some hard work, but it is well worth it when you consider the increased peace of mind, and decreased stress, you will have. These factors will improve your quality of life.