Money management has an affect on almost every part of your life. Taking control over your personal finances can be a great self esteem builder and stress reliever. Incorporate these tips into your financial plan and you’ll be on your way.
Eat like a local would to save money in a foreign country. The restaurants in hotels and tourist areas have “tourist trap pricing,” which can be substantially higher than what locals pay. With this in mind, eat where the locals eat! From local restaurants, you will find more ethnic food for less money.
With this recession, having multiple spending avenues makes sense. A savings account, check account, high interest account and stocks will help you make the most of your cash. Protect your money with whichever of these ideas appeals to you.
Carry a small envelope with you wherever you go. Use the envelope to stash receipts, business cards, and other small pieces of paper you want to save. You want to hold on to these so you have a record later. Try comparing credit card statements to see if they contain double charges.
Buying your lean protein in bulk will allow you to save time and money. If you use everything you purchase, buying in bulk can be much cheaper. It is a time saver to spend time in one day to use this meat and set aside some for a meal each day.
You can automatically have a set amount of money moved to your savings account via your checking account as often as you choose. This will help you save money every month. It can also be useful for when you are trying to save enough money for a major event, such as a cruise or a wedding.
Once the statute of limitations passes for certain kinds of debt, collection agencies and creditors cannot legally threaten to sue you for old debts. The statutes vary by state, usually ranging from 3-10 years. If you think that a debt has expired, consult an expert. You may not need to pay the collection agency for the expired debt.
Money management influences all that you do. These tips can show you the path to good money management, and the satisfaction that comes from having your personal finances in good order.