Getting your personal finances in order can be quite a challenge. Habits are hard to break and purchases are hard to resist but personal financial order is a necessary part of both short and long term success. So read on for some useful advice and tips on getting your personal finances in good shape!
Be careful not to make any long distance calls while traveling. Most cellphones have free roaming these days. Even if you are sure your cellphone has free roaming, read the fine print. Make sure you are aware of what “free-roaming” entails. Similarly, be careful about making calls at all in hotel rooms.
When managing your finances, focus on savings first. Approximately ten percent of your pre-tax income should go into a savings account each time you get paid. While this is difficult to do in the short run, in the long-term, you’ll be glad you did it. Savings prevent you from having to use credit for unexpected large expenses.
One of the tips that you can follow when you go to the store is to shop with a friend. Have them set a time limit as to how long you are going to stay in the store, which will reduce the chance of you spending money on items that you do not need.
Have an emergency savings cushion. Without one to fall back on, unexpected expenses unavoidably land on your credit card. Put away six to twelve months’ worth of living expenses in your emergency savings account so that if you have a huge medical expense or the car breaks down, you’ll be covered.
Many companies offer a matching program if you put money into a 401k. This is an excellent way to save money and gain some extra for the future. It is best to take free money whenever you can get it, and this is one of the best ways of doing that.
It’s often easier to save money if you don’t have to think about it, so it can be a good idea to set up your direct deposit so that a certain percentage of each paycheck is automatically put into your savings account. This way you don’t have to worry about remembering to transfer the money.
If you are looking to save money, one way to do so is by filling up your gas tank at a specific location. Let’s face it, gas prices are rising by the day but what most people do not know is that a gas station located two blocks from another one could be as much as .50 cents cheaper per gallon. Do your research and look for the lower prices.
Most people need some help in sorting their personal finances at one point or another in their lives and hopefully this article has provided you with valuable tips on how you can do just that, starting today. Personal financial health is vital to a happier and less stressful living and with the right advice, you can be on your way to it!