Here are the last 5 financial tips for the first month of January 2014.Tip no 1: Simply say no to your friends when they force you to have a meal at an expensive restaurant.
Make smart excuses when your friends force you to have meals at costly restaurants. If your financial situation is bad and you need to save money, then stop going to pricey restaurants. In case you're tired of making excuses, then state the fact to your friends. Don't feel shy as it won't help you to save money. Real friends will understand your situation and cooperate with you. Others will laugh at your back for a few days and then forget the matter completely.Tip no 2: Debt settlement is just like a business. So, take the emotion out and be practical.
Be strong and practical when you're negotiating with creditors to settle debts. Don't be ashamed to reveal your true financial situation to creditors. Don't feel guilty because you couldn't pay your bills on time. Banks are well aware of the fact that a certain number of creditors won't be able to pay debts on time. If you feel too much guilty, then creditors will just take advantage of your situation and try to grab a meaty deal. Be bold, strong, polite and resolute. Negotiate smartly so that you can get out of debt by paying only a fraction of what you owe to your creditors.Tip no 3: Give up the temptation to have movie theater foods to cut down expenses and save money.
Who doesn't like to watch to munch delicious foods while watching movies? Everyone does, but you've to pay a good amount for having snacks and drinks. The cost of the movie theater foods is almost as much as the movie tickets. Instead of spending a sizable amount upon movie theater foods, bring your own snacks discreetly and eat them while watching the movie.
If you have kids who love to eat movie theater foods, then feed them well before heading to the cinema.Tip no 4: Read money saving blogs to get fresh ideas on how to thrive on a frugal lifestyle.
The web world is flooded with blogs on frugality and different ways to save money. If your financial life is not going well due to bad spending habits, then just type "blogs on frugality" or just plain "frugal tips" in a popular search engine box. You'll get hundreds of blogs on frugal living tips and ideas. Just go through the blogs and get some tips on how to thrive on a frugal lifestyle.
If you need more inspiration, then just buy books on money-saving tips and strategies. Read the book in your free time and follow the tips in your real life.Tip no 5: A judgment can make you go through hell for several years. Be wise and pay it off quickly.
A judgment can create significant problems in your life. Creditors will start garnishing your wages once judgment is issued against you. They'll levy your bank account and debit money till the judgment is paid in full.
Apart from wage garnishment, judgment may pose problems when you're trying to obtain a credit card or a rental apartment. Judgment stays on your credit report for 7 years. Lenders check your credit report before approving your loan or credit card application. They'll be skeptical to lend you money after seeing that judgment has been updated on your credit report.