Are You Heading Towards Credit Card Debt?
When credit cards are used irresponsibly they can lead to a mountain of debt.
Here are some signs that you should watch out for before you end up in credit card debt
according to www.alliedcreditsolutions.com.
Meeting Basic Needs with …
Are You Heading Towards Credit Card Debt?
Credit Card VS Personal Loan
When you need to cover an expense then you might consider a credit card or a personal loan. Your situation will decide which of these is the best option for you.
Credit cards are better for short-term balances that you are able to pay each month and personal loans…
How to Get Out of Debt Faster
No matter what debt you are in, it can take years to pay off debt. However, there are some strategies that you can use to help pay debt off faster.
Pay More than the Minimum
If you have credit card debt, personal loans or a student loan you are able to pay them…
The Pros and Cons of Public Vs. Private Hospitals
There are two main types of hospitals, public and private. Public hospitals are usually larger than private hospitals.
Public hospitals are funded by the local, state and federal funds. This means they are not able to turn…
Money Saving Bank Account Perks That You’re Not Taking Advantage Of
There is quite a lot of paperwork involved when you open a new checking or savings account, but like most people you probably don’t really read the paperwork.
When you do not read the fine print or ask questions then it can be ea…
Reasons to Get a Payday Loan
Payday loans are loans that allow you to get cash quickly with a higher interest cost. However you get the money that you need quickly and they are flexible. So why would you get a payday loan?
Get Cash Quickly and What you Need
If you need some money right now, whom…
Good Personal Finance Habits Everyone Should Follow
When it comes to personal finance there are some good habits that you need to employ.
Live Within Your Means
There is no point in setting good financial goals until you learn how to live beneath your means. This habit is not strategic in any sense; it just means that you learn to live with what you have and bank the rest. Your financial situation will improve as your savings and investments grow.
This means that you do not buy the cheapest goods or the most expensive. You should look at buying the best value for money. It can be worth to pay a little extra for a product that you know will last rather then buying something that you know you will have to replace.
Keep in mind though that not all products are better just because they are more expensive.
If You Have to Borrow, then you Can’t Afford It
Credit is a great thing when you are making a big purchase like a car or a house. People don’t generally have that amount of money in cash to buy these things, so borrowing does make sense. Good financial habits though means that you should avoid schemes that stretch your paycheck.
Pay Your Bills Before they Due
Paying bills late is another way to stretch your paycheck. This will just give you a false sense of how much money you have and this will put you under strain to cover the difference later.
Paying your bills ahead of time will give you more control over your finances so this will make it easier to have good financial habits.
Track Your Spending
If you do not have a budget then you will probably not have a clue where your money is going.
You then need to track your spending so that you can identify the areas of excess.
Shop Without Your Credit Cards
This will stop you from running up credit card balances, so you need to learn to shop with cash or your debit card. This will generally lead to you spending less as you don’t have the option of paying it off later.
Pay More than the Minimum on Your Credit Cards
If you are carrying a balance on your credit card then you need to start paying more than the minimum on time. This means that you will be able to pay off your credit card quicker.
This is important when you are shopping or out and about. You need to get in control of your impulse buying. When you start to shop online or buy something that doesn’t cost much, but do this a few times a week then the cost will really start to add up.
You can use the 72-hour rule, which is where you wait this amount of time for an item before you buy it. This will give you an idea of you really needs the item or if you just want it.
Refresh Your Emergency Fund
Everyone should have an emergency fund, but this should also be refreshed and replenished once you have taken the money.
Review your emergency fund every year and determine if it is able to cover your living expenses for 3 to 6 months. If it can’t then you need a plan to refresh it.
Cut Down on your Spending Allowance
Even those that budget can become slack when it comes to their personal spending and what they have allocated. This is the money that you use for entertainment and other casual spending.
Everyone needs a certain amount of free spending but you need to ensure that it doesn’t get out of control.
These are just some of the things that you can do, but there are plenty of more habits that you can employ.
If you would like to know more about personal finance, head to FinanceMan.
How Unsecured Personal Loans Work
Unsecured loans allow you to borrow money for anything that you want. The funds that you receive from an unsecured personal loan can be used to start a business, consolidate debt or to make an expensive purchase.
Before you decide to take an unsecured loan you…
The Best Way to Finance Buying a Car
It is not a simple decision to buy a car whether you buy outright or buy a car on finance.
A car is actually one of the most expensive things that you will buy, so it’s important that you ensure you get the best deal on financing.
Cash or S…