Step-by step way to manage your money
From ArticleWorld
It will be ill advised to ignore the way you deal with your personal finances. Although, many of us have not had much education in handling our money that is no excuse. It won’t be easy but the way you learning to handle your finances properly will give you a feeling of relief and security. Here are a few pointers that will help you to get started.
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Strategy
It is best if you have some essential strategy that could will help you start to handle your money better.
- Put away a portion of your paycheck every month. If you are not very discipline, see if your bank have a way to take a part of your paycheck and put it in your savings account automatically.
- You don’t always have to buy, you can borrow also. At the library you can borrow books, and you can also rent DVD’s.
- When purchasing something, opt for the a large down payment and low monthly installments.
- Get sound insurance coverage. It is good to have it in a crisis, and you can never predict when you will need money during a crisis.
- Establish a credit history and get a credit card. Only one will do and you don’t even have to use it.
- Get a book on personal finance management, it could teach you a lot about finance and from people who know what they are talking about.
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Know this
- Know that a credit card is better than a debit card. A debit card allows direct access to your bank account, while a credit card acts as a go between. Also, the credit card keeps your money temporarily from merchants, a good thing if you want to return something.
- Know that you need to review your experience and education in terms of your career, and always try to improve them. By do so, you will be ahead of your peers, and will have a better chance of making more money in the future
- Know that it is alright to turn down credit cards, especially from banks. It is awful to have banks going after you for your credit card debt.