In order to survive, you need to learn about money. While our grandparents became versed concerning their earnings, they learned from experience, and that taught them to be frugal, thrifty, and thankful for all they had. These are values that have gotten away from us today. If you use these personal finance tips, you can stretch every dollar further.
Keep a small envelope in your wallet or purse. You can store all your receipts in one place with this envelope. Keep them around so that you have a paper trail. It is always a wise idea to compare your receipts to the bills that you receive to rule out any errors or overcharges.
Buy lean protein at a store that offers it in bulk to save both money and time. If you plan to use all you buy, the best way to save is by bulk purchases. If you set aside one day to cook, you can make meals that you can enjoy all week.
You personal financial health depends on keeping your debt under control. Almost everyone has a home mortgage or loans for educational purposes, but every effort should be made to eliminate dangerous credit card debt. If you do not borrow any money, you will not have to pay any interests or fees.
Use two to four credit cards to have a good credit rating. Using one card can take a while to improve your credit, while using over four cards can represent a lack of being able to manage finances effectively. Start with two cards and build your credit by adding new cards when needed.
Replace old incandescent light bulbs with CFL light bulbs. If you replace your bulbs, you can lower your electricity costs and benefit the environment. CFL bulbs have the added benefit of lasting a much longer time than traditional bulbs. You will purchase fewer bulbs, so you will not spend as much money.
Frequent Flier
Frequent flier programs are great for people who travel by air a great deal, whether it be for business or recreation. There are many credit cards that offer rewards for purchases that you can use to get discounted or even free air fare. You can use frequent flier miles at hotels for discounts, or even free stays.
It’s important for everyone to understand personal finance. By making smart financial decisions you will be able to use your money more effectively. Use these tips to help you get a handle on your money and put it to work for you.
There are tremendous opportunities for small businesses and social entrepreneurs to support their communities through community foundations, donor advised funds and other means of giving back. Find the neighborhoods in Rhode Island where you can make the most impact on the health of the community.