Tips On How To Make The Most Of Your Money

How you manage your finances ends up affecting every part of your life. Taking control over

your personal finances can be a great self esteem builder and stress reliever. With the tips

provided, you can help you help yourself become better at managing your personal finances.

Almost everyone at some point in time makes a mistake with their finances. You can request

a waived fee for a one-time bounced check from your bank. This courtesy is usually only

extended to customers who are consistent in avoiding overdrawing their checking account,

and is usually offered on a one-time basis.

Having a higher credit score can get your further when trying to apply for a loan. There are

many different options that you have to pay off your vehicle, whether you choose loans to

credit cards. Always make a payment that is higher than the minimum due on any balance

owed.

Try to set up an automatic pay plan to pay credit card balances with a debit card every

month. This will make it a little harder to forget.

Keeping a written notebook on your daily expenses can be a real eye-opener into where your

money is going. However, if you put this into a notebook that you can just shut and put away

until you deal with it later, you may find it just gets ignored. A better option is to track

expenses on a large whiteboard that sits out in full view. You will see it often throughout the

day so the message stays fresh.

Credit cards can be a wonderful replacement for debit cards. If you have a card that offers

rewards, use it on your daily purchases, such as groceries and gas. Some credit card

companies even offer you the chance to earn rewards that can be used for cash back.

Older incandescent bulbs should be replaced with newer CFL bulbs, which are much more

energy-efficient. This kind of bulb will help you reduce your electric bills significantly. The

lifespan of CFL bulbs is much longer than the traditional bulbs. Despite the higher initial

price, they pay for themselves, since you needn't purchase new bulbs often.

Create a budget and learn to adhere to it. While you might think that you're spending within

the money that you have, there is a possibility that you could be blowing the bank. Write

down every purchase, no matter how small. When the month is almost over, carefully go over

each item on your list. This helps you see what needs to be cut.

As you work to establish yourself as a financially responsible person, you will find that the

littlest things can produce the largest results. For example, stop buying coffee in coffee shops

and make it at home. That alone can save up to $25 a week. Consider public transportation

over driving your gas guzzling vehicle. That could add up to hundreds of dollars a month in

savings. Each bit of money adds up, and can go toward an investment or add to your

retirement fund. That will certainly be worth more to you than a cup of java.

Don't pay big fees to invest your money. Brokers do collect a fee for their services, of course.

These fees majorly affect your total return. Do not use brokers who take big commissions,

and stay away from funds with high management costs.

As this article has spelled out, proper money management affects every area of your life.

Some simple steps can help you manage your personal finances.

Entrepreneur