Maybe money can’t buy happiness, but it can certainly prevent debt-related stress and anxiety. When our finances are in good shape, we are less prone to stress. A major cause of stress and unhappiness is money issues due to poorly planned finances. Essentially, money does buy happiness, so read on to learn how to get your personal finances in better shape!
Keep small amounts of cash on hand for small purchases and use your debit card for larger ones. Don’t solely rely on credit cards to make purchases. A lot of credit card companies require you to spend a minimum amount, and you can actually save money on the interest rate by using cash or a debit card.
Set out your budget before payday, give yourself a small allowance till next payday and bank your entire check. Don’t touch your new funds come payday. This will help you avoid foolish or impulsive spending on the weekend.
Save a bit day by day. Instead of going to the closest grocery store every week and buying the same things, or things that look appealingly packaged today, take a look at the circulars for a couple grocery stores and compare their prices. Be willing to switch to food that is currently on sale.
A program you can enroll into if you’re traveling by air a lot is a frequent flier mile program. Most credit cards have some sort of rewards program that allows you to redeem points for cash or gifts. Frequent flyer miles can also be redeemed for all kinds of rewards, including totally or partially discounted hotel rates.
Most electronics that have defects will show them within the manufacturer’s warranty for the product. The company who provides the extended warranty makes a lot of money on the deal and for you, it’s often not worth the price you pay.
You can save a ton of money just by being patient with your finances. People clamor to buy the newest electronics without even thinking about the cost. If they would just be patient and wait a bit, those prices will go down by up to 50%. You can use the money you saved on other, more useful items.
Don’t quit your day job, no matter how unhappy you are. Understand that maintaining any form of income is very important in the current state of the economy.
Your education is directly linked to your finances and your income. Statistically, people who earn at least a bachelor’s degree in college earn almost double the wages over their life time than people with a high school diploma or less. This kind of education is what will provide you with twice the income you would have otherwise had.
No one is perfect when it comes to personal finance. If you’ve only ever bounced one check or overdrafted once, ask the bank manager if they will waive the fee. This is for someone with a consistent record that avoids overdraft, retains balances, and will most likely only work once.
Wait until it’s a good time to sell. If a stock is earning good money, just let it stay as is. Instead, look at stocks that are doing worse and determine whether you want to move them around.
Consider whether items you are removing from your home might have value to another person. You can have a yard sale or bring items into a consignment shop to see whether you can get some money for them. People stand to receive a nice surprise when they discover they own something valuable and it’s worth a lot of money.
Have a conversation with a family member or friend who is knowledgeable about finance for tips on managing your own finances. If one does not know any people who fit that description a family member of friend who is good with their money can often be the next best thing.
Learn from your past financial mistakes. Spending years recovering from credit card debt can be a learning experience to discourage further credit card use. If you aren’t being paid enough for the knowledge and talent you bring to your job, let that inspire you to be more resolved when settling on terms for a new job. Experience is the best teacher, and that includes the realm of finances. Do your homework and take your lumps, and your monetary circumstances will get better until you find yourself in a life you never imagined.
The idea of this article is to give you the ability to improve your financial life. 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 things will both help you live a happier life
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