Simple Personal Finance Tips You Do Want To Memorize

When it comes to personal finances, every single person in the world has to be honest with himself and understand that there are better decisions that can be made. What we are used to is not necessarily the very best thing possible. Fortunately, there are numerous professionals like Crystal Clanton that help with free advice right now. Unfortunately, there is so much advice that you might end up overwhelmed by the vast amount of information you are going to receive. With this in mind, here are some financial tips that you might not know much about or that you did not hear till now but that can be really good for you.

Cars Can Last More Than 5 Years

There are so many articles all around the internet telling you that the life of a car is 5 years. This is completely incorrect. If you properly take care of your car, you can drive it for so much more than just that timeframe. Car payments that you would be faced with when you often change your vehicle are much better suited for building a good retirement account.

Understand What Financial Emergencies Can Appear

There are different financial emergency types that could happen. You want to be sure that you are ready to deal with them. The most common financial emergencies fall into the following categories:

  • Home-related problems – like having a leaky roof.

  • Funeral-related problems – like having to pay for funerals or having to travel to attend one.

  • Major car repairs – the minor car repairs are normally not included as they would not cost a lot.

  • Job issues – the most obvious such issue is job loss.

  • Medical issues – you never know when a medical emergency appears.

Actively Calculate Personal Finances

All that you really need is 5 minutes per day in order to fully know where your finances stand. Keep in mind that average TV commercial breaks actually take more time than that. During this time you can review the financial transactions you did during the day. See if there are some discrepancies that appeared and if you could have been smarter with your choices.

Small Money Goals Help

Instead of being focused on really large money goals, it is more effective to divide these into smaller goals. Also, you do want to set up some smaller ones anyway. As an example, you can have a goal like:

  • Spending $50 less on food during this week.

  • Saving $25 per week.

Such small money goals are really easy to achieve and you are going to reap the benefits on the long run.

Look For Free Entertainment Options

Most of the money you are going to spend will just have one real purpose: make you feel better. You do not want to buy things that you do not actually need so it is a much better idea to just look for some free entertainment options. There are so many that are going to help you out a lot to save money. Also, look for alternatives that are cheaper. As a very simple example, a book can offer entertainment for a long time frame as opposed to going to the cinema. Also, for some people, meditation is a great form of entertainment, one that is actually free.

Leave a Reply