Filed under: Personal Finance ? admin @ 7:46 am
Personal finance is a tricky but critical skill in today?s world. Unfortunately, it?s something that is not taught very well or even at all, by many parents and schools. If you want to learn some good advice on the subject, keep reading this article to discover a few pointers that you may not be currently aware of.
Taking advantage of a bank?s program to automatically make deposits into a savings account, can be a wise personal finance move. Many banks offer such programs. They take a fixed percentage of every deposit or a set monthly sum out of a customer?s checking account and deposit it in a savings account. This can help the customer build up savings without any hassle.
Track your bank balances and account information daily by making your bank?s website one of your everyday online stops. Most people already visit social networking sites like Facebook or Twitter at least once a day. It is just as easy to add your account homepage to your regular rotation of site visits.
To teach your children about personal finance, start giving them an allowance when they are young. This is a good way to teach them the value of money while also teaching them responsibility. Earning their own money will ensure that children will know the worth of working and saving when they are older.
As a college student, you will want to reduce the amount that you spend on books and supplies. Instead of purchasing books at the campus bookstore, which is usually at retail price, make friends with upperclassman who can give you these books at a discount. This can save you hundreds of dollars per semester.
If you want to be in good financial shape, you should stop eating out at restaurants. Eating out at a restaurant will cost you as much as ten times more than it would cost to make the same meal at home. Being tight with your money now, will help you to create security for later.
Protecting your financial records is important. These days, keeping a digital copy of them is a great idea. Take the time to scan your most important documents, and always save the financial information that you receive online. Once you have your records in an electronic format, burn them to a few CDs. You can keep one for yourself and give another to a friend or relative for safe-keeping.
The general lack of knowledge of personal financial management was mentioned earlier, but now that you have read this far, you have hopefully learned a few key tricks and tips that will make money management easier for you. Apply what you have read and you are sure to see results in the coming weeks and months.
Source: http://www.redhilllawgroup.com/blog/2013/01/dont-lose-sleep-over-your-personal-finances/
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