If there’s one thing there is no shortage of it’s financial advice, so much so, that it can be overwhelming. So, let’s take it back to some basics that often get overlooked. Let’s have a look at some financial tips that you need in your life. Are you ready?
- Trick yourself into saving if you must. It’s okay – there’s no shame in it. Put your credit card in the freezer so you can only use it with a great deal of effort, have more than one bank account, skip that daily Starbuck’s stop and put the money into your account instead.
- Credit cards can be as dangerous as they are useful. Packing credit cards around takes the thinking out of purchases and drastically increases impulse buying. Chances are many of these items you don’t even need. So freeze the credit cards, and get those credit cards paid off. The interest is negatively affecting your financial well being.
- Have a close look at just what insurance you really need. Make sure the insurance you are spending money on every month is really needed. For example, if you are a single income earner you should have disability insurance or if someone else depends on you, then you should have life insurance. By the same token buying extended insurance on appliances or smart phones is a waste of your hard earned money.
- Investing is a great way to save for your financial future. If you hope to beat the market, you’ll likely be very disappointed but if you hope to add to your retirement fund, you can be pleasantly surprised. Just don’t invest in things that promise returns that sound too good to be true with little risk, because that’s just not how it works.
There you have it – 4 basic financial tips that you need in your life. Put them to work today.