Tips on Money Management
Tips on managing your money, or how to manage or improve our personal finances:
Buy spot
The first tip is to always buy in cash, never credit a few exceptions such as when we want to buy our house or invest.
Buy on credit not only enormously expensive product to permeate our personal finances, but eventually can bring big financial problems are unable to repay debts.
We must acquire the habit of buying after getting the money, not buy and then get it, if we cannot buy something, simply should not buy it.
Always look for a better deal
Another tip is to get into the habit of looking and always ask for a better deal, whether a better price, a discount, better benefits or better condition.
We should not be afraid, be shy or feel less by ordering better treatment more difficult than it seems that we heed, do not lose anything by trying.
For example, do not hesitate to ask for a lower price for a house, a discount department store, a better interest rate, a reduction of our debt, etc.
Pay yourself first
Pay yourself first means to use part of our revenue from our pocket money savings before making any payment, the more urgent it is or even when it seems that then we could not meet him.
For example, if saving for our stock we have determined that we spend each month on 15% of our income, we must always comply with this payment, before paying any service tax or debt.
The pay yourself first allows us to acquire the discipline to save, and also forces us to strive for more money to deal with suppliers, government or creditors.
Automated payments
To pay us to ourselves and not be tempted to use the money before, one tip is to automate this payment, namely, ensuring that this payment is made automatically without our having to worry about it.
To do this, we can ask the company where we work to deposit part of our salary to our stock of savings in the bank, or ask the bank each month take a percentage of the money from another account that we have and are intended to be our saving bag.
They can also use automatic payments for other payments, for example, to pay the mortgage, services, investments, etc.., and thus achieve more efficient management of our money without worrying about it.