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185 Mind blowing financial tips you should be aware of

The community is coming up with interesting financial tips for the consumers each week. These tips help consumers to have a grip on their finances and avoid making costly mistakes. The consumers are likely to be on top of their finances with the help of these tips. Here are the 185 interesting financial tips published by the community for the benefit of the consumers:


20 Tips on debt

  1. Don't always accept the initial settlement offer.
  2. Try to pay off your debts and save money at the same time.
  3. Lower the usage of credit cards to avoid incurring huge debts.
  4. Never co-sign for a loan if you can't afford to pay it off.
  5. Self help is debt help.
  6. Rather go to bed without dinner than to rise in debt.
  7. Always send a debt validation letter to the collection agency before starting to make the payments against the account.
  8. Make love not debt.
  9. Know about the FDCPA laws to prevent debt collectors from playing dirty tricks
  10. Check your credit report after repaying a debt.
  11. Understand the importance of money in order to stay away from debt
  12. Defer student loan debts when you are unemployed.
  13. Consolidate and pay off debt as soon as possible.
  14. Be debt free in your holidays, to be stress free later.
  15. Consider how much you are saving, before you sign up for a debt consolidation program.
  16. When you're married, try to work together to end debt.
  17. "Shop till you drop" is not the mantra you should follow if you want your credit card debts to drop.
  18. Beware of debt consolidation scams if you don't want to end up losing instead of saving.
  19. Settle your debts on your own and avoid being scammed.
  20. If a settlement company asks you to pay an upfront fee, don't work with them.

9 Tips on credit

  1. Check your credit reports from time to time in order to maintain good credit.
  2. Do not use too many credit cards.
  3. Don't use your credit card like your third hand, these are for purposes that are important.
  4. Beware of 0 percent teaser rates.
  5. If you have multiple credit cards, then use a pay-down strategy to reduce your debt.
  6. Don't hide your credit problems from your spouse.
  7. Have at least one credit card for emergencies.
  8. Leave your credit card at home; the less temptation, the better.
  9. Check your credit reports at least 4 times a year. It helps in maintaining good credit rating.

23 Tips on saving money

  1. As every drop of water makes the ocean, every penny you save can add up to a huge amount of saving..know more.
  2. Understand the importance of money and spend it only when needed.
  3. Save regularly.
  4. A penny saved is a penny earned..know more.
  5. The best place to start saving is from home.
  6. Use gas credit cards to save money on gasoline.
  7. Use electricity judiciously to save money on utility bills.
  8. Go green and save money.
  9. Maintain your health in order to save money.
  10. Use public transport to save money on gasoline and also save nature.
  11. Save, regularly or irregularly.
  12. Get rid of services you don't need.
  13. Saving money is a vital part of being responsible.
  14. Automate your savings as much as possible.
  15. Don't be afraid to ask for a discount.
  16. Make your own Christmas cards, not only will it add a personal touch, it will also help you to save money.
  17. Try out some new forms of growing the money other than saving through the traditional options.
  18. Save money and spend family time – rent movies instead of going to movie halls.
  19. Think local, not global.
  20. Discover savings under your own roof.
  21. If you like watching movies at the theatre, go before 6:00 pm.
  22. Save so that you can spend.
  23. Disconnect land line if possible.

10 Tips on mortgage

  1. Seek your lender's help if you have difficulty making your mortgage payments.
  2. Consider refinancing your mortgage loan if you're paying more than the current market interest rate.
  3. Shop around to get the best mortgage deal.
  4. Consider a lesser mortgage amount than the maximum you can afford.
  5. Use mortgage calculators before getting a mortgage in order to decide on your affordability.
  6. Wait before you sell your home as the real estate market has yet again tumbled.
  7. Live with your friends or parents when your house is foreclosed.
  8. Know your borrowing limit by using an online mortgage calculator and then decide how much you may take out.
  9. Check your credit report before applying for mortgage.
  10. Make payments in cash while purchasing a foreclosed house.

13 Tips on shopping

  1. Use coupons for shopping grocery items.
  2. Try to buy items in bulk so as to get items at discount price.
  3. Stop to shop, when your budget drops.
  4. Always make a list while going for shopping items and don't buy anything that's not in your list.
  5. Scan your cupboards, pantry and fridge before hitting the store.
  6. Buy generic items whenever possible instead of going for brands.
  7. Don't shop when you're hungry or sad.
  8. Don't buy things new when used will do.
  9. Buy things out of season when they are cheaper.
  10. Take advantage of discounts before shopping for Black Friday.
  11. Create a "want" waiting list before making purchases.
  12. Do not purchase things in a hurry. Look for all possible options.
  13. Be a smart shopper and spend money only on most essential things.

3 Tips on payday loans

  1. Check whether or not your pdl lender is legal in your state.
  2. Before repaying a payday loan, make sure payday loans are legal in your state so that you. Don't make extra payments than you're supposed to make. If they're illegal, you just need to pay the principal balance of the loan.
  3. If a payday loan company is making unauthorized withdrawals, then close your bank account.

56 Tips on personal finance

  1. Always make sure you know how much money is there in your bank.
  2. Distinguish between needs and wants and learn to prioritize your needs.
  3. In order to control your finance first understand where you are.
  4. Stick to a frugal budget - Eliminate stuff that you can do without./li>.
  5. You only have to do a very few things right in your life so long as you don't do too many things wrong.
  6. We can tell our values by looking at our check book stubs.
  7. Practice thriftiness before preaching...know more.
  8. Prioritize expenses to tackle your personal budgeting problems.
  9. Opting for online documents can help you monitor your accounts regularly as well as save environment.
  10. Pay yourself first.
  11. Always read the "fine print" section of the contract minutely.
  12. Always borrow money from a pessimist; he doesn't expect to be paid back.
  13. Try to make your home appliances last longer so that you can avoid buying big-ticket items frequently.
  14. Use cash to purchase things instead of swapping your credit cards unnecessarily every time.
  15. Once you get an accurate picture of your personal finances, you should figure out your short and long term goals.
  16. Do not use too many credit cards.
  17. Build an emergency cushion on which you can fall back as the credit downgrade will push up the interest rates on loans.
  18. Visit multiple stores to get the best deals.
  19. Live within your budget so that you can manage your expenses and save a considerable amount.
  20. Check out any leakage that may have been caused within your car pipes.
  21. Understand the importance of money and spend it only when needed.
  22. Get paid what you're worth and spend less than you earn.
  23. Learn self control to establish solid financial footing.
  24. It is not necessary to have common financial goals in a marital relation, but both should work together to achieve them.
  25. Making payments on time can save you from a major financial crisis.
  26. Know where your money goes.
  27. Use smart meters to monitor your electricity usage.
  28. Get help of unemployment benefits when you are unemployed.
  29. Use an online spreadsheet to plan a suitable budget.
  30. Take full advantage of Thanksgiving sale! Buy items at a relatively cheaper price!
  31. Update your will.
  32. Try to use the Internet to the optimum, when using an unlimited plan.
  33. Get advice from trusted sources to decide which loan option will be best suited for you.
  34. Avoid financial blues by increasing the flow of your income.
  35. Do Christmas shopping year-round.
  36. Book a hotel room with a kitchen.
  37. Make extra money this holiday to stay within your budget.
  38. Don't see a budget as being about what you can't have, but instead, working out what you can afford.
  39. When you receive a windfall - a raise or a tax refund, you should contribute it towards the retirement savings accounts.
  40. Be aware of your bank balance and avoid over draft fees.
  41. Avoid buying a new car when you have one already.
  42. Grow your own food.
  43. Procrastination is the enemy of your financial success.
  44. Make your own Christmas cards, not only will it add a personal touch, it will also help you to save money.
  45. Ignore all offers that sound t?? good to be true.
  46. Before you buy something new, sell something old.
  47. A little risk is good, too much risk is foolishness.
  48. Prevention is better than cure even in personal finance.
  49. Take advantage of federal student aid to lower your child's education cost.
  50. Have regular "financial" family meetings.
  51. If you have dependents, get disability/life insurance, a will and an estate plan!
  52. Practice the habit of buying things in bulk so as to manage money efficiently.
  53. Keep distance from lavish and high-roller friends.
  54. Before getting married, open your communications regarding money.
  55. Learn self control.
  56. Be up front with your children regarding your financial situation when you’re a single parent.

27 Tips on insurance

  1. Get contact information of all witnesses following a car accident.
  2. Purchase insurance policies according to your capability.
  3. Visit your State Dept. of Insurance website to remain compliant.
  4. Maintain your state minimum coverage requirements.
  5. Before purchasing an insurance policy, go through the policy exclusions.
  6. Don't ever drive under the influence of alcohol.
  7. Get multiple insurance policies with the same insurer to earn a discount.
  8. Install security equipments to achieve a low car insurance premium.
  9. Always wear your seat belts while driving to avoid penalties.
  10. Have some idea on the myths associated with health insurance before getting a policy.
  11. Opt for short term disability coverage if you go out of work temporarily.
  12. Don't always go for life insurance without medical exam.
  13. Be patient when your insurance claim goes through an investigator.
  14. Avoid smoking to attain the best life insurance rate class.
  15. Don't apply for unemployment benefits if you leave a job on your own.
  16. Shop for your life insurance when you are young and healthy.
  17. Purchase adequate insurance policy to get the required coverage.
  18. Check your insurance coverage so that you don't pay for what you don't need.
  19. Get insured and guard your health.
  20. Buy flood insurance if you stay in a flood prone area.
  21. Buy required car insurance for used car so as to save money.
  22. Get your house evaluated before buying and applying for home owner's insurance.
  23. Review Your insurance coverage.
  24. Drop collision & comprehensive coverage on your old car to save money on auto premiums.
  25. Do not waste money buying any extra coverage that you may not need.
  26. When you're a single parent, make sure you have adequate insurance coverage.
  27. Have enough coverage in your auto insurance to provide necessary compensation in case of a mishap.

4 Tips on kids and money

  1. Ask your child to plan the family budget.
  2. Let kids be responsible for their own money.
  3. Show your child how to pay bills.
  4. Gifting 3 piggy banks to your child to teach the concept of spending-saving-donating.

3 Tips on identity-theft

  1. Do not give easy-to-guess passwords while banking online.
  2. Hide your credit card PIN while swapping it.
  3. Never reveal your financial details to anyone over phone.

11 Tips on investment

  1. Diversify or die..know more.
  2. Sip into SIPs..know more.
  3. Fourth Law of Motion and universal law of investing: For investors as a whole, returns decrease as motion increases.
  4. Know the basics of forex trading before investing your money in this trade so as to earn good revenue out of it.
  5. Invest your savings so that they can grow.
  6. Have payment protection insurance for any emergency which disables you from working.
  7. Invest in forex market wisely to gain profits.
  8. Purchase an annuity.
  9. It's smart to save, it's smarter to invest.
  10. Invest in forex market wisely to gain profits.
  11. Wait for a few weeks before making any investment plan this year.

6 Tips on retirement

  1. Contribute to a Retirement Plan - 401k or IRA.
  2. Contribute to a retirement plan.
  3. Maximize your employment benefits.
  4. Start saving from now for your retirement.
  5. Invest in annuities rather than simply going for 401K retirement funds.
  6. Find part-time jobs after retiring.

Weekly financial tips archive

All the financial tips shared by the community members on weekly basis are listed below

Keep visiting this page to get acquainted with the latest financial tips published in DebtCC blog.





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