Have a look at the 5 financial tips for the 2nd week of December 2011
Tip no 1 – Make extra money this holiday to stay within your budget.
Holiday is the time for shopping, family get-togethers, gobbling delicious meals, etc. It is also the time to plan a budget for having these things. However, the cost of the daily necessities has increased so much in the last few years, that it is quite impossible to celebrate holidays within a limited budget. You need extra money to stay within your budget and have a wonderful time during the holidays. If you have any special talent, then use it to make some extra bucks during the holidays. For example, you can design some t-shirts and sell them. You can sell some digital pictures online and earn money.
Tip no 2 – Automate your savings as much as possible.
Automation of savings can help you fulfill your financial dreams. Contact your HR manager and inform him/her that you wish your paycheck to be broken into different parts and sent to your retirement savings accounts. This way you'll never forget to contribute money towards the retirement accounts. In case, the HR manager can't comply with your request, then your can set up an automatic withdrawals system with your bank. The bank will withdraw a specific amount from your checking account every month and send them to your retirement savings accounts.
Tip no 3 – Don't see a budget as being about what you can't have, but instead, working out what you can afford.
Budget makes your financial life less complicated. It helps you lead life without inviting financial troubles. Don't think that budget prevents you from having the luxuries in life. Rather, think that budgeting helps you have things which you can really afford.
Increase your budget from time to time. For this, you may have to increase your cash-flow by taking up part time jobs or doing over time at your office. Nevertheless, it will help you have those things which your heart really desires.
Tip no 4 – Leave your credit card at home; the less temptation, the better.
Credit card tempts you to buy things that please your eye and heart. It makes you buy things which you can't realistically afford. For this particular reason, you should not go to a store with credit cards in your wallet. Rather, keep it in a safe box at your home. Carry sufficient cash in your wallet when you go to your office, college or some where else. This way you won't be able to purchase things which your financial health does not permit.
Tip no 5 - Don't be afraid to ask for a discount.
Whenever you go to a store to buy something, ask for a discount. Don't be afraid to ask for a discount. You'll lose nothing by asking for a discount. If the retailer agrees to give you a discount, then you can potentially save money. For example, if the retailer agrees to give you a 10% discount on a t-shirt whose market price is $100, then you can save as much as $10. You can use this $10 to purchase something else.
The bottom line is, never be afraid to ask for a discount for you've nothing to lose. At the most, the retailer may refuse to give you a discount. However, if the retailer consents to give you a discount, then you can grab a good deal.