By Keith Gilabert
When your finances are in bad shape, it reflects on your life in general.
Read on to pick up some personal finance know-how.
Look at what you no longer use to free up some cash. Your old laptop
can make you some extra money if you need it. Used electronics that are
working can net a decent chunk of change. If it's broken, it can still
be sold for some extra change. Remember, getting a little bit of money
is a lot better than getting nothing.
Avoid investment opportunities that have high fees attached. It is
common for investment managers to assess substantial fees for the work
they do on your behalf. These fees majorly affect your total return.
Stay away from brokers who make too much money off of commissions or a
fund that costs too much to manage.
Always check the fees.
Think about purchasing store brand foods over name brand foods. In
most cases, there are no major differences between a store product and a
costly brand name one. It usually consists of the same ingredients too.
Do not be afraid to try these foods, they can save you a lot of money
in the long run. The average person spends about $780.00 per year on
Starbucks.
Replace older incandescent bulbs with high-efficiency CFL bulbs. This
will lower the cost of your electricity bill, and also help out the
environment. CFLs also last longer than traditional light bulbs. You
will spend less money by buying fewer bulbs. Making small adjustments
in your life will help in the long term.
Don't try to save money by skimping on home or vehicle maintenance.
Preventative maintenance is necessary in order to take proper care of
your possessions. Over the long term, taking care of your property will
save you money.
Try to hold a garage sale, where you can sell all of your unwanted
goods for additional cash. Your neighbors may even let you sell items
for them. Creativity is one of the most important factors towards a
successful garage sale.
Make sure you have a checking account that works for you. A lot of
people stay with the accounts they have always had, but you should see
if there is a better one with less fees! Find out what fees you are
being charged at your current bank and make an effort to find a checking
account that charges you less, so that you can keep more of your own
money.
Write it Down! A written budget is valuable to having successful
personal finances. The first of each month, compose a list which
describes every expense. Remember to include all expenses due, such as
rent, lights, cars, phones and food. Try to take all expenditures into
consideration. Add up your anticipated monthly expenses, and make sure
you don't spend more than what you have left after paying them.
If the whole family wants an expensive item, then ask each member to
contribute to buying it because this will show kids the value of money
and make them appreciate what they have. When the purchase is for
something the whole household can enjoy, like a new television, try
convincing everyone to donate towards the purchase.
If you take the time to get your money in order, your life will run
more smoothly. Having a firm grasp on your finances gives you peace of
mind and relieves stress. It allows you to focus on more rewarding areas
of your life.
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