It’s said that money can’t buy happiness, but the peace of mind it can buy is priceless. Financial security can help us sleep better and will reduce the stress of everyday life. Many people do not have their personal finances in order, and this is a leading cause of unhappiness. Money can indeed buy happiness, and if you read on you’ll be able to buy into it too.
If you buy your protein sources in bulk, you can save hundreds over the course of a year. Buying product in bulk is usually much cheaper if you actually use what you purchase. If you cook meals for the rest of the week, it can save you a lot of time.
Look at the fees before you invest your money. Brokers that invest your money long term will charge money for the service. When you calculate your potential profits, these charges should be part of your equation. Brokers with unreasonably high commissions and funds that charge a lot for management are both things you should stay away from.
Try to avoid debt whenever possible to have better personal finance. Granted, there are certain debts that are necessary. However, there is rarely suitable justification for using a credit card to make daily purchases. The less you are borrowing, the less you’re going to have to spend on fees and interest.
Speak with your bank about setting up a savings account where a certain portion of funds transfer over to it from the checking account each month. This is a good way to put money away every month. This is extremely beneficial when you are saving money for something like a luxury vacation or wedding.
Health Insurance
Get health insurance to secure you and your family’s future. Everyone is going to face health problems. That is the reason it is important that you have good health insurance. Hospital and medical bills can climb as high as twenty thousand dollars or more in some instances. You will have a big issue if you cannot carry health insurance.
If your spouse has a great credit score, use this to your advantage. If you are someone who does not have the best credit, you should try to build the credit back up using a credit card with a small limit you can pay off every month. After achieving good credit scores, spread the debt between both of you.
Instead of maxing out one card, try to use a couple of them. If you go over your limit, you will be paying a larger amount in charges than the fees on smaller amounts on two or more cards. Keeping lower balances on two cards, rather than maxing out one card, protects your credit scores and can even improve your credit history if you keep both cards paid on time.
Consider getting a savings account to put money aside every month. With money in savings, you may be able to avoid getting loans, and will also be in a position to handle unusual expenses. It doesn’t matter if you save a whole lot each month or just a little; what is important is that there is a contribution each month.
While debt may eventually expire when it isn’t collected, it is advisable to get advice on repayment of old debts. Seek expert advice on the statute of limitations on debt. If a debt collector is trying to collect on an expired debt, don’t pay!
Credit Cards
Credit cards are convenient and more secure than a debit card. If you can be approved for credit cards, use them for small daily purchases like food and gas. Often times, these purchases provide great cash back rewards.
You may want to get overdraft protection with your bank if you are frequently struggling financially. You might be charged a little every month but you will save money on overdraft fees!
Keep your important tax related documents together in an active file. All important documents, receipts and records should be kept in one central location so that you can easily lay your hands on them when tax time rolls around.
Set an automatic draft from your main checking account into a savings account on a regular basis. It may seem painful at first, but in time, you won’t notice as much and you will love seeing your savings grow!
Know that when you do not maintain you home or car that you are not really saving cash in the long run. Preventative maintenance is necessary in order to take proper care of your possessions. The small expenses associated with maintaining your home or car are minimal when compared to what it will cost you to make any major repairs.
You should always have at least 10 dollars on you in cash. New laws give merchants the ability to set the purchase limit for credit card usage.
A liquid savings account is something that everyone should have. A high yielding bank account will fulfill this need. Online banks may have these high yield savings accounts available and they would also be insured by the FDIC.
Hopefully, you have gained useful information and insight into managing your finances, which will enhance your quality of life. Although getting your finances in order can take time, it can relieve today’s money worries and help you avoid disaster in the future. Both of those factors will greatly contribute to your improved happiness!