Here's expert advice on finding the value of your money and your most precious asset, your time.
You work hard for your money. Unfortunately, crooks work hard as well, attempting various tactics to take your money. Here are red flags and smart advice to know to avoid losing your money to financial scams. Learn what you need to do by reading the full Medium article here.
When you made your resolutions at the start of the year, was saving money one of them? How’s that going? Here are 6 ways to save more by saving smarter.
Your ability to keep more of your money greatly impacts every aspect of your life. If you’re like many people, then you probably wish you had more money than you do right now. The good news is by taking the following steps, you’ll be on your way to keeping more of the money you earn.
Watch Your Credit
The state of your credit score has a big effect on your buying power as a consumer. It determines whether or not you can buy a car or a home or even whether or not a landlord will rent to you. One way you can increase your credit is by repairing your credit, which can help you get a loan. An improved credit score also means you’ll have an easier time getting credit cards, renting apartments and sometimes, getting certain jobs. Making your payments on time, reducing your debt-to-income ratio and keeping your new credit inquiries down are just a few of the ways that you can increase your credit score.
Find a Budgeting System That Works for You
It’s nearly impossible to get a handle on your money situation without a budget. In this situation, it’s easy to overspend without realizing it, in part because digital tools, like debit and credit cards, make it easy to do so. However, having a budget forces you to keep track of the small purchases, like your daily latte, that can add up quickly. One simple budgeting method that works is the 50/30/20 method. Under this plan, you spend 50 percent of your money on your necessities, like housing and food. Thirty percent goes toward entertainment, shopping, and other “fun” activities. You then spend 20 percent of your income on savings and debt.
Get Out of Debt
Having a lot of debt weighs you down financially. It seriously curbs your spending power, and if your debt load is significant enough, you’ll spend most of your time working to get out of debt. This severely impacts your ability to save money for a new home, vacations or retirement. If the debt is an issue for you, then make sure you do everything you can to pay it down, using either the debt snowball or debt avalanche systems.
Getting control of your finances has many benefits. It allows you to get loans, pay off debt and save for important events, like retirement. However, it’s not enough to just take care of your finances only occasionally. To have a lasting impact on your finances, you must keep track of them regularly over the course of your life.
Here’s another article you might like: 5 steps that can improve your credit score in 100 days or less
For a good portion of Americans, life insurance is a critical component of financial planning. However, when a life insurance policy becomes too expensive to maintain due to premium increases, the owner can be faced with some difficult decisions.
Social Security Disability Insurance (SSDI) is a vital safety net for former workers with disabilities. You should be aware of these top 5 reasons to seek disability benefits and learn about the resources available to you to assist in the application process.
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