Monthly Archives: August 2018

Three Essential Personal Finance Tips

Personal finance is extremely important in today’s society. Whether you are looking to purchase a new home, pay for college or take a trip of a lifetime, personal finance can help you achieve these goals. While there are many ways to benefit from good money management, here are three essential personal finance tips that can truly help you achieve your goals.

Save and Invest

It is absolutely essential that you save as much money as possible and then invest it so that it can work hard for you. Saving money is vital to having a nest egg in the future for the purchases you desire. Saving requires a plan and usually lots of time. One of things that you should do once you receive your paycheck is to pay yourself first. Take a set amount of your pay check and put it away. Once you have money saved, the next step is to invest it and make it work hard for you. Over the years, you can earn hundreds of thousands of dollars off of just $30K to 50K in savings using the power of compound interest. There is no magic involved. In order to create a nest egg in 10, 20 or 30 years save money and invest it.

Create a Budget

Creating a budget is essential for anyone that has an income and expenses. Many of us are usually carefree and do not keep a record of all our purchases, however if we knew just how much we spent each year on junk or impulse purchases we would be aghast. Creating a budget is a great way to understand what we spend our income on, reduce spending on non essential items and discipline ourselves to save and invest our money for the long term. Creating a budget is extremely simple and requires only a few hours of time each month. A simple budget can literally save you thousands of dollars a year and give you true piece of mind.

Use Credit Wisely

Credit cards can be extremely convenient, but many times they are equally destructive. A credit card is not a license to spend; it is in effect a loan. Understanding how credit works and how to use it responsibly can make your life much easier. Credit cards can be a great option in certain situations, however using them properly is essential to proper money management.

Tips in Finding Free Credit Counseling Online

Free credit counseling is one of the best ways to learn about managing your expenses, handling your credit card, saving a considerable amount monthly and sparing a sum of money for credit card debt repayment. Free credit counseling would be rather advantageous if you try it at least before you select a debt relief program because your counselor will be the best source to give information and advice on debt relief methods.

Finding a reliable credit counselor is not at all a problem because there are many counseling companies that provide free credit counseling and at the same time there are ample amount of debt settlement and debt consolidation companies who are ready to offer you free counseling sessions even if you do not hire their service. Thus selecting free credit counseling is not a big deal but reliability is some thing that you need to think of.

If you are searching for a best and most reliable credit counselor your top priority should be given to world wide web because it is one of the most wide and accurate source. For instance you can visit online forums for credit counseling in which many people discuss their experience in this field so that you can gather many information. You may even find huge amount of advertisements on debt settlement companies which would perhaps provide you free credit counseling.
You can even search free credit counseling through your search engine. That would provide you with many a number of entries which you can fellow in order to visit companies which provide free counseling.

And additionally you can consult debt relief networks which would provide you with list of free counseling companies in their affiliation. You will be able to find a company which provides exactly what you need.

Every body needs advice especially when it comes to financial matters it would be rather beneficial if they are given by an expert. There are many expert debt relief companies who are ready to provide you with advice as a means of promotion you can use this opportunity to get your work done.

4 Easy Personal Finance Tips

Every month we end up spending more and feel the stretch over financial commitments. Often people think about saving more than doing it seriously. This recession period and subsequent lamed growth, has compelled us to give some serious thought to managing personal finance prudently in order to save enough. This article gives some significant input regarding administration of personal finance.

  1. The first step is to create a feasible budget that allows you to spend comfortably and meet your basic needs as well as save sufficiently. It should not just be put on paper to forget; instead the budget must be followed stringently. Keep a track of all your payments including electric, phone, fuel and your credit card bills. You can pay through direct debit which can ensure your timely payments and create good credit ratings for you.
  2. Good personal finance management requires some compromises and sacrifices on your end. Try to keep a check of your unnecessary food, snacks and alcohol expenditure. Even saving on them just once a month can make a big difference.
  3. Your outstanding mortgages, loan repayments and credit card bills must be a priority while planning your savings and investments. It is important to remember that even a few non payments towards your loan installments can lead to severe financial problems or even bankruptcy in worst cases. If you sense that your credits are mounting and it is difficult for you to pay them, it is advised that you immediately review the situation and consult creditors for a solution. You can ask for easy payment solutions or even raise money from other sources to get out of raising debt.
  4. Diversify your investments in insurance, shares and other policies that are safe and give good returns. Remember that wise financial planning can help immensely in solving many of the economic problems that you may encounter in your life.

5 Strange But Creative Personal Finance Tips

 

f2I guess most of you are aware about the shrinking global economy unless you have been hiding in Himalayas since last two years or more. Money making, in today’s scenario, is not easy at all. You have to cut down on your groceries, work 15 hours instead of 8, stop partying, and yet you do not save a negligible amount to pay off your credit card bill.

You say “I am trying everything to perk up my financial stability.” I am sure you aren’t. Below are some strange but smart personal finance tips to earn quickly.

  1. Medical Research

No, I am not asking you to do a medical research. That will be done by doctors and physicians. You just need to lend your body for research. It isn’t as bloodcurdling as it sounds because all trials and test are conducted under expert supervision and they have to adhere to austere laws. I do not know about rest of the countries, but in US they make sure your body is safe while conducting the tests. Normal trials include drugs dosage testing which has already been scrupulously tested, but not on humans.

It is not necessary to be in good shape to get involved because drugs are not for healthy people. Although some research seek a healthy body, most of them are looking for smokers, or obese, or asthma patients. Those interested, be prepared for diminutive side effects.

  1. Trade in blood

Donating your blood is a virtue. But it is an opportunity in recession times. In US, you can earn up to $40 per donation. It is completely safe to give a bottle of blood from your body at any given time. Humans recover the lost blood within a day. That means you can earn $40 per day. However, it’s not advisable to donate on a daily basis.

These strange personal finance tips are quite useful and inexpensive, are not they? Read on.

  1. Trade in Hair

People try to earn money by using what’s under their scalp ignoring an indispensable source of income thriving on it. For those still wondering, I am talking about your hair. Instead of dumping it after cutting, sell it and earn up to $ 1,000. However, you can just collect crumbs and sell it off. You hair needs to be at least 25 cm long; say it’s one of the eligibility criteria. It also needs to be uncolored, clean, and healthy. These bunches of hair are used to make wigs which will be used by celebrities. Lucky hair! You can find purchasers online.

  1. Trade in sperms

Make money from your manhood is one of the few well paying personal finance tips that your financial consultant wouldn’t inform you. Probably because he might not know it. Selling your sperms once in a week or two is a great opportunity to earn money that women can never enjoy. However, it might be quite bothersome for those men who might think that their numerous off-springs will find them out in 16 years time.

  1. Disease in fad:

Any disease can be an earning opportunity for those who think creatively. For instance, many people earned money from the period affected by swine flu. They designed comical swine flu awareness t-shirts which were informative yet stylish. Others introduced branded flu masks for rich and modish people.

These are some of the few personal finance tips that you can use to earn a good part time income. Just remember to be creative and resourceful.

Six Personal Finance Tips to Money Wealth Financial Security and Personal Finances

Today everyone wants their money to be safe and secure. However, the financial world is growing more unstable and our needs are changing at a rapid pace. The necessity for individuals and families to save and manage their money has never been greater, harder and it is not getting any easier. Managing a budget, saving and investing your money wisely is the immense subject on everyone’s mind. Saving money has become extremely hard today. You should save for retirement, save for your kids’ college education, save in case you get laid off and save just to create a sense of comfort.

Have you looked at your finances lately? The process of saving money, create wealth and achieving all of your financial goals start with the awareness what personal finance is. Personal finances are not about cashing your payroll check, paying your bills and meeting all of your monthly obligations. It is about having enough money saved in order to meet all of your financial goals in life.

Money is a medium of exchange, but the lack of money adds to great emotional stress in our lives. Take control of your finances immediately by reviewing the following tips provided.

Today is an excellent time to start reviewing your finances and put together a good financial program with goals that fits your financial needs. After you review your finances, take immediate action and make some positive adjustments. Do not try to take care of it by yourself. Make sure all of your family members know about your plans and they can assist you in meeting all of your financial goals. An important issue is to measure your results and make all possible changes needed. When you and your family achieve all of the goals, reward yourselves. Rewards are always great motivators. Start Today.

Six Personal Finance Tips

  1. It is not what you earn, it is what you save. Save at least 10% or more of your net earning from every paycheck. The important issue is to spend less than what you earn. Do not go beyond your means.
  2. To maintain a good savings account take control of your spending. A good spending plan, not a budget, will let you know where you are spending. Decide on what you want to spend your money on in advance and keep track of all of your monthly transactions. From there you will know what your spending habits are.
  3. Is your Bank meeting your needs? Possibly you might need to look at another bank that offers a much greater savings and or investment program. Today, Online Banks offer great investment programs.
  4. Apply and use credit cards that offer 0% for 12 months or more. Every monthly payment that you make will go directly to the balance and not to the high interest. When the 0% intro program is about to expire review what the interest rate will be. If the rate after that period is 10% or more, apply for another 0% credit card and transfer the remaining balance. Keep this process and you will never make an interest payment.
  5. Buy a home. Your best investment is your home but only if you get a low interest rate mortgage. If the current interest rate is 2% lower than your present rate, refinance and lower your monthly payment.

 

5 Tips on Selecting a Good Credit Counseling Service

Credit counseling is by far the most popular debt relief option approached by millions of households who are facing debt problem. However, not all credit counseling services are legitimate; there are even bad companies who provide little or no actual “counseling”; instead, they are in business just to make money from debtors who have suffered financially by getting them to sign up with a debt management plan that comes with huge hidden costs, make their debt situation worse.

Therefore, if you are deciding to approach a credit counseling service to help you in resolving your debt problem, here are a few tips to help in your selection:

Tip #1: Move on if you are asked to sign up a debt management plan right away

When you approach a credit counseling service, a credit counselor will be assigned to work with you. He needs to get understanding on your debt situation and your budget first before he proposes a solution that fits your financial situation. If it is not the case, instead, the credit counselor wants to sign you up right away into a debt management plan without first understanding your debt & financial situation, then move on.

Tip #2: Read the contract carefully before signing up

Don’t put down your signature onto the dotted line of a contract before you really understand what have been written inside, in details. You have right to ask the credit counselor to provide with copies of the contract and bring back home to read the contract thoroughly before signing up. When you go through the contact, make sure you understand all the fees involved, such fees may include enrollment fees, monthly fees and extra fees per account. These hidden fees can add up to big lump sum and may cause your debt worse.

Tip #3: Make sure the credit counseling service works with all your creditors

Although a credit counseling company works with many creditors, but there are creditors excluded from their list. Therefore, make sure they work with all the creditors on your list so that a debt management plan can cover for all debts.

Tip #4: The service is not totally free

Many credit counseling services are operated under the name of non-profit organization with the purpose of educating and advising debtors on how to resolve their debt issues in proper way. However, don’t be fooled by the “non-profit” status and think the service is totally free. Although it may be free in counseling and education portion, there is always a monthly fee if you choose to and you always advise to enroll into a debt management plan. In fact, it might involves a sign-up fee and other costs, so be carefully to read the terms and conditions before you sign up a debt management plan.

Tip #5: Check the company with Better Business Bureau

Although credit counseling and DMP enrollment can be done online, it is a good idea to visit the company and talk to the credit counselor face-to-face. Make an extra precaution step by checking the company with Better Business Bureau to see if there are complaints filed against the company.

Personal Finance Tips While Traveling

Traveling around the world is my passion, hobby, pastime, or whatever you want to name it. I just love traveling and I take my family where ever I go. So even they love it, al least that’s what they say. Over a period of time, I have developed a habit of saving enormous amount while we are on a trip. This helps us to save some amount for the next trip. Let me get to the point and help you with few personal finance tips while traveling that can really save some money.

Food

If you are on a short vacation, say for a couple of days, remember to pack your snacks. When I am driving out for few days I carry string cheese, apples, and carrots.

A note on apples: To avoid sleep while driving, not is as effective as apples.

If you can manage to pack a lunch that can last a couple of days and lots of snacks, much of your money spent on eating in expensive restaurants can be reduced.

A day before you commence your trip, visit an eatery or a grocery store near your house and buy lots of snacks. Same foodstuffs at a tourist location or a crowded place or even a convenience store near gas pump will cost much more.

If you don’t like eating packed food, or carrying them, get some coupons. These discount coupons are quite inexpensive way to eat while traveling.

Carry lots of water with you. Something that’s freely available at home costs much outside. Lastly, be proactive and not reactive.

Gasoline

If your trip involves lots of driving, carry a cash-back credit card with you. I have also found that better quality of petrol provides better mileage. Probably, this is the only way to save money in this category. You cannot replace gas by anything else like water or beer.

Sometimes, my employer reimburses the amount spent on gas. So I get the whole amount back plus 3% cash back.

Hotels

Living in hotels is very expensive while on a vacation. For me, hotel was a major factor affecting our travel budget. Not any more. I reserve my rooms online well in advance. Several portals like MyPoints or Ebates offer a cash back scheme.

If you are a regular traveler, it’s wise to become a member of holiday clubs, or loyalty clubs that offer discounted stay.

Most of the time when we are traveling, we halt at any hotel on the way. However, since last year I have developed a new strategy that has helped me save a lot. Before going for a tour, I jot down the names and numbers of all the hotels in and around the place we had decided to halt at. I also jot down the details of hotels that are about one hour’s distance from our expected halt. This way, we have started to get the best deal.

Also, while selecting hotel, check weather it includes a free breakfast. When I travel with my family (5 members), it saves a great deal of money.

Additional suggestions

This is not a very frugal suggestion, but I am ready to pay $20 to $30 extra for cleanliness. I wouldn’t opt for a hotel that has creepy cockroaches and long hairs on the bed, just because it’s cheap.

If your family includes a kid or two, do make a note of malls on the way before starting your journey. The play area in a mall is the best refreshment you can offer your kids while traveling.

It’s good to save money while traveling but not at the cost of your life. If you are very sleepy while driving, get yourself a room to sleep, if not for whole night, at least for a couple of hours. Okay, if you want frugality here, get an energy drink and get going.

Useful Tips on Credit Counseling

Everybody reads articles on credit counseling but I want you to be different. Unlike others, I want you to really grasp what it means and how it can help you for the rest of your life. We are not talking here about someone taking your will power away from you or keeping you from making decisions on your own. We are talking about empowering you with the confidence you need to make the right choices.

A credit counselor is what you need when things are no going the way you want. You need to get counseling from someone who knows much better than you and can therefore advice you on the right steps to take to bring things to order. He or she is in good position to proffer financial advice that will help you get out of your financial quagmire.

There are lots of credit counselors out there for you. Lots of people are realizing that obtaining credit is the way to go when things are not going well with them financially. Also, many people realize that given the situation they found themselves, they may not be in the right sphere of mind to make the right decision concerning their finances. Hence, they need to turn to credit counselors for help.

You can experience a dramatic turn of events in your finances after a thorough discussion with a credit counselor. However, there is need for you to discuss everything there is with him or her before you draw up your debt management plan that would bring about that dramatic change.

With a good debt management plan, it is quite possible for you to get out of debts. This is what a credit counselor should help you to draw up. With it, your creditor will have no choice than to be lenient with you. This will make him or her to charge lower interest than the regular rates out there. This is enough good reason why you should go for credit counseling.

You are aware that life is too short. It should not be lived miserably. Hence, look for solutions to debt problems. The obvious answer is credit counseling. Why not go for it and be free from the clutches of your creditors? A stitch in time, they say, saves nine.