Month: August 2018

Smart Personal Finance in 10 Simple Rules

It is a good financial habit to manage personal finance and even teach your children young about it. This helps in any sudden situation of unemployment, disaster, loss of family member, etc. at least in little bit. There are several individuals, families, and others who manage the personal finance in a smart way. Some even buy Money Counter Machine РBill Counter Machine РPortable Money Machine Counter Р150 Straps & Counterfeit Detector Pen РMoney Counting Machine for Mixed Bills РCurrency Counter РDollar Cash Counter to assist with personal finance. There are 10 simple rules for the same so read on.

  • Try to save money each month which could be little as 10% or more. It helps in the long run.
  • Pay up all bills in full especially credit card bills as this helps to reduce or subtract interest.
  • This means you must not only pay the monthly minimum fee or amount but all purchases/bills that you have made with the bill in full.
  • Avoid purchase and sale of individual stocks.
  • Try and maximize savings accounts with tax benefits to whatever amount is allowed.
  • Make sure or try to get financial planners who agree to take just fees and not other incentives, products/schemes commissions, etc.
  • Plan about buying a house as this can get you a mortgage and there are many benefits like loans, house rent, staying in a house, etc.
  • Do the social safety as much as you are able to afford as this seems like spending when discussing managing personal finance but whenever and whatever you are comfortable in giving away.
  • Buy safe index bonds, and inexpensive mutual bonds, etc. once they are cheap so when the value goes up you can sell it and it may be a smaller profit but still it is a profit for you.
  • Make a list of all these rules and keep it as a priority list to check up time and again. Paste it on your bedroom, or your cash counting bench, or where you keep your money. It helps you to remember what to do.

How To Keep Your Finances Safe

There is high-risk today of a fraudster getting access to your bank account when you use your ATM card at the machine or when you swipe your credit card when you go shopping. Card frauds are not uncommon and they are happening every now and then.

The use of credit cards and digital wallets has increased and this is making our lives easier. But on top of that, these are also causing risks. It is thus important that you keep your finances safe.

A few ways that can help to keep your finances safe are listed below.

Have a system

Have a map of your finances. This should have details of all your accounts and how these are linked to each other. This will let you see how your money is moving and you do not need to bother about remembering each and every transaction that you do. You could also use some mobile apps that let you manage your finances. It lets you tack all your accounts.

This way you have an eye on what is happening with your money,

All your account should be linked to a single card

If you think that you are spending more than you can afford to then link all the accounts that you have to one card. You should also make sure that the digital wallet, as well as any apps that you use to transfer money, is linked to one card. This helps you to track your spending. This will also let you know in case of any theft.

Use all the security features

Your bank will be giving you many security features. Take advantage of these to protect your account. This is an added level of protection so that your account cannot be hacked if in wrong hands. Getting loans for loans shark is dangerous so make sure that you use the various security features to protect your account.