Ten Points to help you stay on top of your finances
Ten Points to help you stay on top of your finances
1 Check your statements regularly.
If you are in financial difficulty, or even if you're not, it is easy to avoid reading your bank account and credit card statements. However, to do so, you may lose money. There may be bank charges on your bank statement or a transaction on your credit card statement, which is fraudulent or simply false. Examine
Your monthly statements and ensure you account for all of your expenses and all of its costs. If there is anything you do not recognize, or anything you do not understand then please contact your bank or credit card company and ask them for help.
2 - Do not hide from the debt
If you start to deal with debt, the worse thing you can do is hide from it. Believe it or not the credit card companies, loan companies and banks do not want to fight you to repay the debt. They are many, and how easy it is to be the way they continue to receive their payments and they are more likely to get repeat business. Thus, the first sign of trouble, they call or write to them and let them know what the problem is and how you intend to fix it. Some companies may even help you with a payment holiday for a month or two, but you get back on its feet. Sometimes they see it as it is in their best interest, as it becomes more expensive for them to try to recover the debt from the person who is struggling to pay.
3 - lower the interest you pay
If you have credit card debt, you may be paying more interest than you need. There are many credit card companies that offer zero percent introductory rate for new customers. These rates may continue for somewhere between six and 18 months. Up to move your debt zero percent deal and are paying as much as you can see each month to reduce debt rather than interest rates will not be added each month.
4 - Check your credit rating
Check your credit rating at least once a year to ensure you remain in good condition, as mistakes made by credit reference companies can be expensive, as a bad credit rating can mean that you can only get credit at higher interest rates. The UK the two main credit reference agencies, Experian and Equifax. Contact them and ask
for your file.
5 - Do not invest if you do not understand
If you are thinking about dabbling with investments follow this one simple rule - do not invest in something that you do not understand. This way you can make your own decisions about whether to invest in something. If you understand the company and the product or service they offer then you are much more likely to understand if they seem worth the investment.
6 - Do not lend to family and friends - consider the possibility of
This tip is really more about the importance of family and friends than it is about finances. The bottom line is that if you lend money to family or friends and you value the relationship, consider that the money is unrecoverable. Thus, when a friend or family member can not pay you back, it will not fall out. Family and friends are more important than money. You never know when you might need them.
7 - Create Passive Income
This may mean that you have additional work done in less time, but it may cause some extra income for very little effort for a long time. An example would be useful to set up a website or blog that contains useful tips for people. If this advice is expert in the field that you have knowledge or interest in, this will not be too boring to keep adding info on the site or posting to your blog. As your site gets more popular and people start visiting your advice to get you to start running ads, you pay the money when your visitors click on them. It can be quite profitable if done correctly.
8 - Get the Best Deals
Do not stick to a routine, and it can not be lazy, especially in utilities and other services that may be offered more than one company. Shop around and get the best deal. Do not be afraid to go to the new service provider to save money.
9 - Stop the waste paper
Okay, this is not about the environment than all, it is about saving money. Most credit card companies, loan companies, banks and even utility and mobile phone companies will now give you the opportunity to receive their monthly statements online. This will save your money, because they do not pay for submissions to be printed and they will also save you shipping. Some of these cost savings will be for you. Also you can save money by creating direct debits to your monthly payments are made electronically, on time, every month. It is also sometimes see the savings will be passed to you.
10 - Use of prepaid credit card
It is becoming more and more popular for several reasons. First, they can not be borrowed - they do not credit. The idea is that you load them with money in advance and you can only spend what they have been included and no more. This is a great way to budget. Pre-Credit cards are also good from a security point of view, if they are stolen or skimmed credit card scam, they can be used to run up huge debts in the same way that credit cards can. The most you will lose what has been loaded up front, and if you notify the issuer is fast enough, you may even lose that!
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