Finance Management

Saturday, March 20, 2010

Personal Finance Money Management Guide For 2010

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Saving more than a couple of thousand dollars is not as difficult as it sounds. I am not going to harangue you on "you can do it", or "importance of saving", or "why not saving can kill you before the world ends in 2012." No. Nothing like this. Here are few suggestions on how you can actually save few dollars, if not couple of thousands, next year.

1. Calculate the amount of money you spend buying kitchen paper. It may not be quite substantial, but why waste money on these papers when you can replace them with cloth napkins. Spending even a dollar on disposable papers seems to be a waste. Buy a cloth that can be washed and reused. You can save approximately $85 a year.

2. If your family comprises of you and your spouse, both working, why spend so much on cable. Unplug it and save anywhere round $600 per year.

3. Digital camera is perhaps the only device where we use batteries. If you use it a lot, switch to rechargeable batteries. Doing this will save not much, maybe $24. But every penny saved in this kind of economy is 3 pennies earned.

4. Why do we need a landline when all the family members own a mobile phone? I have disconnected it and I sometimes use Skype instead of landline, and mobile most of the times.

5. If you are still left with any gold after, after the "sell gold" advertisements, sell it off. Even if it is small gold scraps, sell it. But do not mail it across. It is better to sell it at the neighboring jewelry shop. You can earn some amount here.

6. Chopped and shredded vegetables, cheese, and fruits cost much more than the un-chopped, fresh ones. Instead of spending more, you can get the fresh ones and slice it at home. Doing this for a year can help you to save $250. Isn't it worth a try?

7. Stop going to the gym and find a way to exercise free of cost. If the only reason you go to gym is losing weight, there are numerous ways to do it without a gym. By doing this you can save as much as $420 in a year. Till now, this is the biggest contributor to your saving.

8. Get rid of your printer. Okay, may be that's not possible, you can at least promise yourself not to print unless necessary. Ink cartridges, color or black & white, can burn a hole in your pocket. I have to replace the cartridge once a year. However, it still costs me around $80 to $100.

Remember these points while preparing a budget for 2010. These are just 8 examples of saving money. We, together, can come up with probably hundreds of them, and imagine the amount we could save. If you have any such suggestion, please comment and suggest, for me, for all the readers. Let's derive the most comprehensive and precise personal finance money management guide for 2010.

Carl M Thomson is an author of this article on personal finance money management.

Find more information about personal finance information here.

Article Source: http://EzineArticles.com/?expert=Carl_M_Thomson

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Importance of Personal Finance Management

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In today's world, money is an essential part of our life. In a way, we can say that money is the life blood that lets us live a comfortable life. True, money can't buy us happiness, but it certainly gives us the assurance of a secured future and freedom to purchase things which make us and our loved ones happy.

But despite all this, most people are either too careless about managing their personal finances or just don't know how to do it efficiently. As a result, most people start caring about their money only when they have left with very less of it. In the 21st century world, it has almost become a norm.

The so-called double income families love to a life of every luxury possible in the world and they don't even think twice before digging into their savings or taking loans to get it. As a result, 8 out of 10 people have at least some loans on their head.

Until two years ago, the effects of bad personal finance management was only seen on a small level. But the current recession has turned the demon of badly managed personal finance into a national calamity.

The failing banks, closing businesses and cost cuttings left a large number of people without a job.

But the unemployment was just a push to create a whole domino effect on the economy. Devoid of any personal savings and buried under loans, people started losing their homes, cars and even health insurance. So many people defaulted on their insurance payment that many insurance companies declared bankruptcy and many others were on the brink of going out of business.

We can blame so many factors for this - the government, the corporates and most of all the banks who gave easy loans to people who could never afford them. But the truth is that it's the job of banks to encourage us to take loans. That's how their business. It's only up to us to make complete sense of the situation.

Your banker would love to get you the huge loan for your second luxury car or a holiday home because he will benefit from it. He will even convince you that you are making the wisest decision by making a bigger purchase than you could ever afford to.

But you must understand that managing personal finances is extremely important. Make sure that you don't make any purchase that's out of your reach. We are not suggesting that you don't take loan, but take it only when and only as much as essential. Try to create a savings account and keep an equivalent of three months of expenses in it, at all times.

In the end, I would say that bad times come in everybody's life. We all have to go through our shares of difficulties whether its unemployment, sickness, or injury. All we can do is to make sure that we are prepared for it (at least financially).

Author is an expert in matters related to finance, financial software and online marketing. He has years of experience in writing articles on such subjects.

Article Source: http://EzineArticles.com/?expert=Ciprian_Gingha

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Getting the Finance Management You Are in Search Of

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When you are looking into getting finance management, you want to make sure that you get the most, and best help that you can possibly receive.

When looking for the best management, it shouldn't be hard to tell which one to go with by the options that they offer you, and also by the type of customer service that you receive when you ask questions about their services.

The professionals that this company will make sure you feel secure by letting the professionals help sort out the bills you have, so you can get back to your life without having to worry about what gets paid on which day.

This allows you to feel more accomplished when you have someone else who has been doing this type of work for a while, and they know exactly how to organize your bills in the way that is easy for you to cover them all.

Financial management services can be inexpensive, so this may be a plus when you need someone to help you a bit.

This can be reassuring to know that you are not spending more money then what you are trying to put towards bills, and hopefully have a little extra at the end of each week.

Since you have to figure out how much you have each week, you should keep in mind that you should low ball your income, and put your expenses higher than what they are to make sure you are covering everything you have to pay every month.

This will also give you more money to do stuff with out of every paycheck. This can be the perfect opportunity to start saving for things that you want such as vacations, or a brand new big screen TV.

Why wait any longer than you have too, you can visit them Financial management services today by going straight to their site at coraldebthelp.com.

The professionals will let you know how they are able to help you manage your finances management, and help you get your life back on track, and to saving the money you want for the extras in life that you never thought you would be able to save for.

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