Archive for the ‘Financial Manangement’ Category

Tips To Manage Your Money Wisely

Tuesday, June 14th, 2016

managing moneyManaging your money can seem like way too difficult thing but you feel like because you haven’t started managing your money. Managing your money is not at all difficult; the difficult thing is to start this process. In today’s time managing your money is quite easy by careful budgeting, paying attention to your income and expenses along with saving. Focusing on these important things will help you to manage your money in just and equitable manner. Here are some of the essential tips to manage your money.

  • List down your guaranteed monthly income

You must have exact idea about how much income you earn per month. This is very important for managing your money. If you want to manage your money wisely and want to make some savings then you should hide some of your incomes. Don’t include surprise income in your guaranteed income. Don’t include overtime salaries, bonus, tips or anything else which is not guaranteed. List down only those incomes which you and which are fixed. This will give you an exact idea as to how much money you are availed to spend each month and it will allow you to draft an exact and accurate budget. If you want to manage your money in best possible manner then include this additional money in your savings or you can include this in an emergency fund. This will help you to combat those surprise expenses which can come at any time.

  • Have a track on all your expenses

Always collect all your bills and keep it as it will help you to keep exact record of your monthly expenditures.  By storing them you will also get an idea of your spending habits. This will be a great help in managing your money. If you are into online banking then you are availed with the facility of getting to know your credit card activity. Most of the banks also differentiate these expenses by type like groceries, gas, rent, food etc. If you are spending anything in cash then you can keep the receipt or you can also note down the expenses of the things you bought. This can help you a lot in managing your money.

  • Break your expenses

This is the best way to manage your money as it can help you to decide where you can save your money and where to expend. You can divide your expenses into essential, non-essential and fixed expenses. Fixed expenses are those which do not change from month to month but remains fixed and has to be paid. Fixed expenses include expenses like rent, loan payments or mortgage. Essential expenses are those which you need in day to day life but its utilities and consumption change from month to month. Essential expenses include food, transportation and such other things. Non-essential expenses are those are not compulsory or even necessary. It includes expenses like movies, shopping, hobbies, dining out, drinks with friends and such other expenses. This is the best places where people can manage their money and can save part from this.

Important Things You Must Have In Your Checking Account

Saturday, July 25th, 2015

Checking AccountIn this fast running life, people don’t have that much time to go and do every banking thing. Supply of time is in short in this speedy life. So, most of the people prefer to have every possible thing which can help saving their time and give them the best possible facilities. Foe regular banking we use our checking account and there are many such things which you need to have in your checking account but you are unaware of those things. Here are some of the things which are very important and useful which you must have in your checking account.

  • Take the utmost advantage of automatic payments

Many of the times we forget to pay our bills on time and for that we need to suffer a lot. If you are such kind of person, then you can try out automatic bill payment system. There are certain bills which are recurring in nature. Set up an automatic bill payment system through online bill pay and make sure that your bills are paid on time without any hassle and hindrance. You can be free from many tensions and worries because of these feature in your checking. Stress like lost of check in transit, lost of check in mail, stamp requirements and spending time for all this payments are removed from your schedule by keeping this facility in your checking account. It is also very helpful in such cases when you are away from your home or you are in travel and still your bills are paid on time.

  • Keep a track on spending with online banking and alerts

Considered to a very efficient way for keeping an eye on the spending you do by keeping a alert on mobile banking. The process is very easy; you just have to sign in your checking account through your laptop or computer or even through your mobile phone and see all the details of your spending. You can get rid of paper work or mailing by electrically paying off your bills with your checking account. Many banks also have a system of giving a mail alert or SMS alert when there is falls of funds beyond a specified limit. They also give same alert when you have given a check and it is cleared from your account.

  • Secure yourself

There are many banks which possess features which help to overcome certain security issues. They have certain features which prove to be very useful when your debit card is stolen away or lost. It helps you save from these situations. These security characteristics are there on the card itself such as photo ID proof.  It also gives security if there is any fraud transfer or any fraud transactions. You can ask your bank where you have your checking account for extra security features.

  • Set up direst deposit

The simplest and easiest thing you must have in your checking account is to set up a direct deposit. By direct deposit of funds your money is very safely and securely transferred without any of your effort.


Financial management advice for college goers

Wednesday, March 20th, 2013

Financial management , financial tipsFinancial management is essential for all. It is the best way to utilize monetary resources in the long run. Most college goers require this in the US. On an average a college student in the US acquires a debt of $20,000 when he or she goes out from home to get a degree.

The first thing that most students who go to college must understand is that degrees are costly and while getting a degree acquiring new clothes and new electronic gadgets just to go with then trends is not particularly feasible. They must remember that spending money on unnecessary stuff will actually get the better of you when it is time to pay off the debts. An easy tip to avoid spending too much is carrying less cash. So that when you are actually planning to buy something you will have to convince yourself the need for it and walk back to get the money you require.

Effective economical tips for new parents

Friday, August 3rd, 2012

Economical tips, Financial ManangementHaving a child is not that an expensive affair you are thinking it to be. You will see that your baby is growing very fast in the first year. They will need a lot of clothes. If you were lucky to have been gifted with a number of clothes for the baby in the baby shower, you will have to be wise with them.

You should keep some of the clothes and get the rest of them exchanged for bigger sizes. This will save you a lot of money. You should not be hesitant about buying clothes from the thrift stores for your baby. It is myth that only the expensive diapers would be safe for the babies. As long as the diaper company is a registered one, the inexpensive ones would do just fine for your baby. Little babies do not know what toys are. Therefore, there is no need to buy toys that are expensive. They might as well play with the box in which the toy came.

Smart budgeting tips

Wednesday, August 1st, 2012

Budgeting tips,Budget planningPlanning and using our money in an economical and flexible manner is the key to live a balanced life. Budget planning your finances is very important in all aspects of your life – investing, working, buying for occasions and even shopping. Here are a few smart budgeting tips which will help you plan better. Avoid negative thinking. Instead of dwelling upon the things you don’t have, think and plan with what you have. You may have had losses in the past but now it is time to put that all behind and make sure that doesn’t happen again.

Plan your annual and monthly budget systematically. Keep money for saving, paying bills, groceries, insurance, rent, and gas and obviously keep some for going out, having fun and shopping as well. But make sure that you save enough monthly to be able to have enough at the end of the year. When starting with a new financial plan, always pay off your debts at first. If you don’t have enough, take a loan with low interest rates and set yourself a target to pay off the debt in a given period of time.

Common questions about stamp duty mitigation

Friday, July 20th, 2012

Stamp duty mitigation, financial tipsYou must have heard a lot about stamp duty mitigation? However, have you ever wondered what it actually is? Well, in simple terms, stamp duty mitigation is the mitigation or the doing away with the expenses that one has to bear for stamp duty. Purchase of all kind of properties is subjected to Stamp Duty Land Tax and the duty fee has to be paid if you make a purchase above a stipulated amount. This can become a huge financial burden to those who purchase property hence the means for mitigation.

Some of the questions that are usually related to stamp duty mitigation are how does stamp duty mitigation work and how to choose a good stamp duty mitigation plan. Knowing the answers to these key questions will help you a lot to reduce your financial burden as far as paying for stamp duty is concerned. You can talk to your financial adviser to get answers to these questions.

Easing stamp duty charges

Saturday, July 14th, 2012

Stamp duty mitigation, stam duty chargesIf you are trying to get a mortgage loan approved it is important to make sure that the process becomes as smooth as possible. Each program is different from the other. However few questions are always same for any kind of mitigation involving stamp duty. It is imperative for an individual or groups to go through the pros and cons along with the other terms and conditions and clear out all queries. One should proceed only if he or she is satisfied with the answers or knowledge about the particular stamp duty mitigation.

It is imperative and prudent to learn beforehand if there any upfront costs. In fact all lenders ask for an application deposit before fetching the mortgage. There is always a question if one can ensure stamp duty mitigation. Many profess that stamp duty mitigation is illegal therefore it is better to pay what is being asked and rather than go into all the hassles of legal stamp duty mitigation. A professional advice is must as it is impossible for an article or a single individual to educate one comprehensively on the concerned topic.

When does one be eligible for a PPI reclaim?

Wednesday, May 16th, 2012

PPI compensation claim, payment protection insuranceFinancial systems that are meant to be helpful to the common people have some eligibility criteria. Thus to take advantage of any such scheme it is very important for one to know the exact eligibility criteria for the same. PPI or Payment protection Insurance is one such helpful scheme and here in this article we will talk about the eligibility criteria for the same.

A PPI is generally sold along with any loan that one takes from any bank or financial institution. However one must understand that these are over and above the original loan and there are certain terms and conditions that are riding with the scheme. There are certain illnesses which are not covered by this PPI scheme. Also there are restrictions as to the number of transactions in which one can pay the charges to be eligible for the loan. One must take all this into consideration before going for the same.

An account on financing apartment buildings

Monday, May 7th, 2012

Financing apartment buildings, finance for apartmentsFinancing apartment buildings could be tricky in the current situation. There a number of conventional financial institutions like the banks who are showing a certain disinterest in the borrower who are looking for finance for apartment building. Therefore, more and more seekers of loan are turning to the private financial institutions for apartment building financing. These private firms are equipped with menders whoa re quite creative and have the capability of structuring the loan for apartment building. They may even help you regarding rehabilitation and refinancing of the apartment building. The rates of interest of these private institutions are quite competitive that will give you a low rate. There are different schemes of payment and the validity period of the loan from which you will be able to make choice for meeting your requirements in the best possible way. There are many private institutions that could help you in this matter but you should stay from the frauds.

Three simple steps of wealth creation

Saturday, May 5th, 2012

How to create wealth, wealth creationIt is a general belief that you can create wealth under any circumstances and from anywhere in the world. Strange as it may sound but the validity of this belief can be more validated by analyzing the practices and the strategies of the wealthy and successful people. There are three basics of being able to create wealth. Invest on a project that you would want to handle. If you venture in a subject that does not appeal to you, you will probably not be able to give your hundred percent in the endeavor. It is important to apply the full capacity of the heart and the mind in the project for creating wealth.

Secondly, you have to learn every aspect of the work. If you are investing on real estate, you should know every part of the field. You have to be confident and sure about the field so that nobody can con you in the process. Finally, you have to make sure that the dedication and the focus for the goal is not lost at any time.