Maybe money can’t buy happiness, but it can certainly prevent debt-related stress and anxiety. Money can help us get a good night’s rest and reduces stress in our lives. One of the biggest causes of frustration is a lack of control of personal finances. Essentially, money does buy happiness, so read on to learn how to get your personal finances in better shape!
Track all your spending through the day. Even the small, inconsequential purchases. You may be surprised at what you spend. Simply jotting down your expenditures in a notebook may make it easier to avoid confronting them by pushing them to the back of your mind. Instead, create a big chart or board at home and use that to list all your expenses. That way, you see it more frequently.
Always have a small envelope on your person. Store any receipts or business cards you receive in the envelope. Saving these will provide you with a record of items purchased. It will be good to have them on hand, so that you can verify all the charges on your credit card statement and contest any that are incorrect.
There are generally 90 day or year long warranties on products, so usually if something is going to go wrong, it will do in within that time period. The only one who benefits from an extended warranty is the warranty company, not you.
Avoid excessive fees when investing. All investment brokers charge you to invest your money and choose investment options for you. These fees can eat into your returns. Avoid brokers who have high overhead or take a huge cut for themselves.
Try using the automatic withdrawal plan at your bank so that you will automatically have money transferred into your savings account at regular intervals. This is an excellent strategy which helps you to manage your money much better each month. It’s extremely helpful if you have an expensive life event that you’re saving money for, like a vacation or a wedding.
Houses and cars are usually the most expensive purchases you will make. Paying the interest on these things often eats up a lot of money each month. You can pay them off faster if you add an extra payment or put any of your tax refund toward it.
If you want a measure of security in your financial situation, put a specified amount of money every week or month into a savings account. If you do this, you can use your own money to cushion against unforeseen financial problems without having to take out a loan. You may not be able to save a ton each month, but save what you can.
Signing up for a frequent flier reward program is a great way to save money or be rewarded if you fly often. Many credit card companies offer rewards made on purchases that can be redeemed for free or discounted air fare. Your frequent flier miles add up quickly and can be used for services and products other than flights.
This article will have hopefully helped you understand more about finances and how to manage them. Achieving a good financial state in your life requires you to make changes and put forth some hard work, but it is well worth it when you consider the increased peace of mind, and decreased stress, you will have. These two factors will help contribute to improving you happiness.