There’s more to personal finance than nickles and dimes. It has a lot more to do with common sense than anything else. Managing your finances the right way is a behavior that is learned and most individuals learn the tough way. Take the following advice seriously and learn to implement positive changes to your personal finances in order to live a happier and less stressful life.
Never sell unless circumstances suggest it is wise. If a stock is earning a good amount, it is best to allow it to sit a little longer. If certain stocks are doing poorly, decide if you want to sell them.
File your taxes as soon as possible to abide by the IRS’s regulations. To receive your refund quickly, file it as early as possible. On the other hand, if you know you will have to pay the government additional to cover your taxes, filing as close to the last minute as possible is a good idea.
Your car and house are very likely going to be your biggest expenses. The payments and interest rates on these things is likely going to be a large portion of your budget. Try to pay them off quickly by making extra payments or applying your tax refund toward the principal.
Frequent Flier
Signing up for a frequent flier reward program is a great way to save money or be rewarded if you fly often. Most credit cards have some sort of rewards program that allows you to redeem points for cash or gifts. Your frequent flier miles add up quickly and can be used for services and products other than flights.
A good grocery store sale isn’t so good if you end up wasting the items you bought. You can save money by stocking up on things you know you use regularly and those you will eat before they go bad. Be realistic, so you can enjoy a good bargain when you find one.
Find a checking account that is free. Some places to look for free checking that you might not have considered include credit unions, local banks, and online banks.
It may be more beneficial for you to use credit cards than debit. Once your card is approved, you can use it for every day purchases, like food and fuel. You’ll earn points or cash back on those purchases when you use a rewards card.
Credit Card
If you want to avoid ruining your finances with credit card debt, the best method is to just avoid using them. Take a step back and think before making purchases on your credit card. Think about the length of time a particular purchase will take in order to be paid. You should stay away from any credit card charge that can’t be paid off within 30 days.
Personal finances are handled differently by everyone, and you are the only person who knows what is right for your life. With any luck, you now possess sufficient information to handle your financial situation with aplomb, and will soon reap the rewards of your wise decisions. Keep reminders of what you have learned in handy places like your wallet, desk or refrigerator door. Using this information will give you great results!