In order to survive, you need to learn about money. While our grandparents became versed concerning their earnings, they learned from experience, and that taught them to be frugal, thrifty, and thankful for all they had. These are values that have gotten away from us today. If you use these personal finance tips, you can stretch every dollar further.
In these turbulent times, spreading any savings you have around multiple locations is sound strategy. For example, don’t put all of your funds into a savings account. Put some funds into checking or into stocks. The more diverse your investments, the safer your money is. Use these ideas to make sure your money is safe.
Carry a small envelope with you wherever you go. You can store receipts, business cards, and other important items in it. It’s a great way to capture these items in a safe place to record them later on. It is always a wise idea to compare your receipts to the bills that you receive to rule out any errors or overcharges.
Most electronics that have defects will show them within the manufacturer’s warranty for the product. Extended warranties are hugely profitable for the business, but not for you.
Whenever you can, avoid debt. This will result in healthy personal finances. Almost everyone has a home mortgage or loans for educational purposes, but every effort should be made to eliminate dangerous credit card debt. If you borrow as little as possible, you can avoid paying costly interest charges.
Credit Score
If you or your spouse have less than perfect credit, the partner with the healthier credit score should apply for any loans you need. If your credit is poor, build it back up with a new credit card account that you use and pay off each month. Once you are both happy with your credit score you’ll be able to get loans and spread the debt out more evenly.
Instead of using a single maxed-out credit card, aim to use two or even more cards. Interest on multiple cards with lower balances should be lower than the interest on a maxed-out card. This should not hurt your credit score; you might even be able to increase it if you always pay your bills on time.
Being educated about personal finance issues is invaluable. Knowing where your money goes, and how to stretch each dollar will make you happier and your life much easier. With the following tips, learn how to save and spend wisely. Your financial goals are within reach.
There are tremendous opportunities for small businesses and social entrepreneurs to support their communities through community foundations, donor advised funds and other means of giving back. Find the neighborhoods in Portland, Oregon where you can make the most impact on the environment in the community.