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| Personal Finance (Photo credit: 401(K) 2012) |
Saving
money is easier than what most people think. Here are some valuable tips for
you to save up easily for the future:
Savings before expenses
Come
payday, immediately deduct money for your savings before taking on expenses.
That way, you automatically save twice each month. It would be best if you also
have a set amount for expenses so you have a value you can stick to. This in
turn will help you in sticking to your budget. If you happen to spend less than
the usual, the excess should go to your savings.
Download personal finance apps on your gadgets
The
emergence of tablets and smartphones has paved the way for developers to come
up with useful applications for both iOS and Android platforms. One good
example of a personal finance app on Android is MoneyWise. This app allows you
to add and even automate additions and deductions from the balance you have
provided. You can also have multiple accounts which are easy to track and
manage with its intuitive interface. Similar apps are available on Google Play
and on the Apple iTunes Store.
Never spend money that you do not have
A
credit card is deemed important so that an individual can build his credit
history, but most people often succumb to the powerful plastic because they
cannot help it - it is all too tempting to spend. You can make the most of a
credit card by using it when you know you can pay the full amount come next
billing date. If you plan on purchasing something that you know you cannot pay
the following due date, think twice of buying it. The interest rates for credit
cards are higher than ever, and you might be wasting hundreds, if not thousands
for interest rates.
Go shopping when there are discounts
Be
frugal when it comes to shopping by only going to the mall when there are
mall-wide sales. You can save as much as 50% off items when you buy them during
sale season. Avoid impulse splurges. A good thing to do when attracted by an
object is to think it through for a week. Most of the time, people forget about
what they have seen in the mall. It only means that wants are fleeting unlike
needs which are important and cannot be avoided.
Invest your money
Investing
is one way to make your money grow. For starters, it is best to start with
investment options that are low risk and requires just a bit of your money. A
short-term time deposit in your bank is worth a shot. From that point, you can
observe and analyze the trends in business and finance. Read books pertaining
to mutual funds, stocks and equities and even attend seminars before gambling
in these more high-risk investment options.
Curbing
spending behavior is a lot easier when you know what to do, and when you know
how to set priorities. These tips are small ways down the line to a prosperous
life ahead of you.
Written
by Peter Coppola, a personal finance and insurance researcher. He enjoys
writing for various personal finance blogs. Click here to get your credit report.
really this are small things which we can follow then we can save more money in daily life.All are simple rules /habbits that can really change your investment .
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