Saturday, January 5, 2013


      1.      Tracking your expenses on daily basis.
2.      Making personal balance sheet and profit and loss account to know your own net worth.
3.      Being careful not to overspend.
4.   Never buying anything on impulse. One of the best ways to help prevent this is to make a shopping list and then stick to it.
5.      Opening your bills when you get them.
6.      Paying your bills online when possible.
7.      Doing your research before purchasing extended warranties.
8.      Ignoring credit card convenience checks that come in the mail. They usually come with high fees that make them extremely expensive.
9.      Saving part of your income for retirement. Try saving at least 10 percent from every paycheck; it’s never too late to start.
10.  Keeping the money in your wallet to a minimum.
11.  Spending less than you earn every month.
12.  Avoid spending on Credit. As long as when it come to take things on credit, do plan as to whether you can repay it or not.
13.   Taking advantage of automatic paycheck deductions. Not only does it ensure you pay yourself first, it’s an easy and painless way to save for retirement.
14.  Reading all contracts before signing on the dotted line.
15.  Reviewing your credit card statements for errors and erroneous charges.
16.  Keeping a budget. Because for most folks, when it comes to managing their money, failing to plan is the same as planning to fail.
17.  Sincerely following your budget. It’s one thing to create a budget, but if you don’t have the discipline to put it into action, why bother?
18.  Paying the bills on time. By doing so you’ll avoid spending money on needless late fees.
19.  Taking advantage of coupons and internet promotional codes as often as possible.
20.  Refusing to pay the minimum on your credit card bills each month. Here’s a credit card fact: making minimum payments each month will ensure you pay the maximum interest.
21.  Never hoping for an inheritance to solve your money problems.
22.  Avoiding the lottery. 
23.  Setting, and then regularly reviewing and updating your savings goals.
24.  Never overpaying for insurance.
25.  Fully understanding stocks and other financial instruments before investing in them. Never assuming past performance guarantees future results.
26.  Negotiating whenever the opportunity presents itself.
27.  Ensuring your retirement needs are taken care of prior to providing for your children’s future. What good is saving for the kids’ college education if you’ll be eating cat food in your golden years?
28.  Occasionally rewarding yourself by spending lavishly.
29.  Maintaining an emergency fund. Everyone should have between three and six months of living expenses in the bank.
30.  Treating your household like a business. By taking an active role in managing your finances — and looking at ways to maximize your income — you’ll ensure a brighter financial future for you and your family.

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