How You Can Make Smart Financial Choices
In these challenging economic times it is very important that we make the right financial choices that will help improve our financial situation
. We cant afford to maintain the extravagant life styles that we once lived. We have to do away with all the unnecessary luxuries and stick to the necessities. Here are a few suggestions on how we can improve our current financial situation.
1. With the high gas prices, try to take public transportation whenever possible, and if you have to drive to work, set up a carpool. This will help cut down your fuel expenses.
2. Buy generic prescription medication instead of name-brand medication when available. Ordering prescription medications by mail, or online and signing up for a discount prescription drug plan will save you a whole lot of money on your prescriptions.
3. Diversify your sources of income. The days when you could just rely on one job to meet all your financial needs are gone. Now youve got to have a back up financial plan. If you work for someone else, you might want to consider starting a side business such as selling Avon, Mary Kay or something like that. Or you could use whatever skills that you have to offer a service to others.
4. Save on your utility bill by using energy efficient light bulbs, turn off all the lights and appliances that youre not using, and dont turn your air conditioner completely off, its better to leave it at a set temperature between (74-84 degrees).
5. Avoid checking account overdraft and credit card over limit fees by not using your checking account as a line of credit, and not going over your credit card limit. Also avoid using ATMs that charge a fee. You dont want to end paying those ridiculously high fees its a waste of money and so not worth it.
6. If you want to make the most out of your finances, stay away from convenience stores. Although convenience stores are there for your convenience, avoid them at all costs and only shop there if you really have no other alternative. The products in these stores are over priced compared to department stores.
7. Cancel your newspaper and magazine subscriptions. These are unnecessary expenses that you can definitely do without. These days most local and major newspapers and magazines have an online version that you can access for free.
8. Dont waste your money on buying lottery tickets. Youre better off holding on to your money and saving it instead. You have a much higher chance of getting struck by lighting, getting involved in a car accident or plane crash than striking it rich by winning the lottery. Its a complete waste of your hard earned money!
by: Sandi M Lewanika
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