How you manage your finances ends up affecting every part of your life. Take charge of your finances. Managing your personal finances is easier than you think.
If you bought a defective item, chances are you will notice it within a few weeks only. Extended warranties might not be the best thing for you, but they are lucrative for companies.
Always know when to file your income taxes with the IRS. If you will be receiving a refund, file early to receive your money more quickly. If you owe the IRS money, file as close to April 15th as possible.
Your credit score might even go down as you work to increase it. This is no fault of your own, since it happens to everyone. Repairing bad credit to get your personal finances in order can be well worth the time and effort.
Frequent Flier
If you are someone who travels the friendly skies often, it may be a worthwhile investment to enroll in a frequent flier program. Most credit cards have some sort of rewards program that allows you to redeem points for cash or gifts. Your frequent flier miles will constantly increase and are redeemable at thousands of hotels or airlines across the world.
Don’t waste money on lottery tickets; invest it wisely instead. You will then know the money will be there and grow instead of flushing your money away!
Your FICO score is affected greatly by credit card balances. The higher they are, the more it will negatively impact your score. Paying the balance down can make it go back up. Keeping a balance of 20% or less of the credit maximum is something you should try to do.
To maintain good spending habits and controlling yourself from blowing too much money, allow yourself a certain amount of cash each month to spend on personal items. You should feel free to buy whatever you like with your allowance, but exercise self-control and never give yourself more after you’ve reached your limit. Being on a budget doesn’t have to mean deprivation. So, go ahead and enjoy a meal out, or some other small expense once in a while.
As you know, money management affects every aspect of your life. By using these tips, you will be successful in your journey toward financial stability.